Retail Units with High
For Sale
$495,000
699 NE Willett Avenue Ne 1, East Providence, RI 02915
Two retail units in good condition with ample parking.
Property Size3,900 SF
Price / SF$126.92
Days on Market160
Property Features for 699 NE Willett Avenue Ne 1
General Information
Standard status
Active
Size
3,900 SF
Building Details
Year Built
1960
Listing Agency:
Paiva Realty Group
Listed By:
Richard Thomas
(401) 474-1504
Source:
Alpernandmesenbourg
Added: May 19
Changed: Oct 12
Last Checked: Oct 7 at 2:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Paiva Realty Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features two retail units situated in a high-traffic area. The building is reported to be in good condition and offers ample off-street parking. Both units are currently leased. The property size is 3,900 square feet.
Key Highlights
- Two units provide immediate rental income potential.
- Ample off‑street parking available.
- Located in a high‑traffic area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,029
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,580
$880.6K
Cap Rate 7%
$628,986
$629.0K
Cap Rate 9%
$489,211
$489.2K
Market Conditions
NOI Build-Up for 3,900 SF
Gross rent
$70.2K $18.00/SF
− Vacancy
−$7.3K −$1.87/SF
EGI
$62.9K $16.13/SF
− OpEx
−$18.9K −$4.84/SF
NOI
$44.0K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,580
Cap Rate 7%
$628,986
Cap Rate 9%
$489,211
Alternative Uses
Best Use
Retail
$629.0K
$550.4K – $733.8K
NOI $44,029 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$927.7K
$811.7K – $1.08M
NOI $64,937 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Two retail units in good condition with ample parking.
Where is this retail space located?
The property is located at 699 NE Willett Avenue Ne 1 East Providence, RI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two units provide immediate rental income potential.; Ample off‑street parking available.; Located in a high‑traffic area.
