Two-Unit Storefront
For Sale
$495,000
699 NE Willett Avenue NE #1, East Providence, RI 02915
Both suites are currently leased, and the property offers off-street parking.
Property Size3,900 SF
Price / SF$126.92
Days on Market179
Property Features for 699 NE Willett Avenue NE #1
General Information
Standard status
Active
Size
3,900 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
R3
Occupancy
100%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,716
Building Details
Building Size
3,900 SF
Year Built
1960
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Paiva Realty Group
(401) 438-7149
Listed By:
Richard Thomas
(401) 474-1504
Source:
Berettarealty
Added: May 12
Changed: Nov 4
Last Checked: Nov 6 at 5:06AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,900-square-foot storefront property contains two units, both leased at present. The building dates to 1960 and is zoned R3. Off-street parking is available for the property.
Located at 699 NE Willett Avenue NE #1 in East Providence, the property occupies an area described as high traffic.
Located at 699 NE Willett Avenue NE #1 in East Providence, the property occupies an area described as high traffic.
Key Highlights
- Two storefront units, both currently leased
- 3,900 square feet; built in 1960
- Off‑street parking available
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?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Under-served
Demand for This Use
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
$317,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Storefront properties in Providence County, RI
Properties on Market for Storefront properties in Providence County
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Tiffany Weddings — 47 palmer ave, riverside, ri 02915
Frequently Asked Questions
What type of property is this?
Storefront property - Both suites are currently leased, and the property offers off-street parking.
Where is this storefront property 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 storefront units, both currently leased; 3,900 square feet; built in 1960; Off‑street parking available
