Mixed-Use Property in Hope
771 Hope Street, Providence, RI 02906
MULTI_FAMILY - Providence, RI
Property size:
7,820 SFLot size:
0.11 AcresPrice / SF:
$278/SF- Added:
- Apr 14, 2026
- Days on Market:
- 33
- Last Refresh:
- May 16 at 3:06 pm
Property Features for 771 Hope Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C2
- Bedrooms
- 5
- Bathrooms
- 7
- Rooms
- Bedroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 4, Bathroom 6, Bathroom 1, Basement, Bathroom 9, Bedroom 1, Bathroom 2, Bathroom 7, Bathroom 8
- Parking features
- Garage
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 7,820 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 32885
Utilities
- Heating system
- Baseboard, Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1930
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Laminate, Tile - Ceramic, Hardwood
- Building materials
- Brick, Wood
Listing agent Stephen Gaskin License #RES.0048283 (401) 439-7705
Listing office Residential Properties Ltd. 140 Wickenden Street, RI (401) 274-6740
Listing date Apr 14, 2026
MLS# 1409701
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Highly visible corner location in the heart of Hope Village with exceptional exposure and steady foot traffic.
- Ground‑level restaurant space currently leased to a highly anticipated culinary destination (Ciao Ciao).
- Four residential units (3 one‑bedroom, 1 two‑bedroom) providing a strong income stream.
- Three additional commercial spaces occupied by neighborhood‑serving businesses (tailor, pet groomer, tattoo studio).
- Diverse mix of restaurants, cafes, and boutiques nearby, close to Seven Stars Bakery and Blackstone Boulevard.
- Well‑maintained building with desirable features such as central air, hardwood floors, and garage parking.
Overview
This mixed-use property is located in the heart of Hope Village and offers exceptional exposure and steady foot traffic. The property consists of two parcels positioned on a corner. The ground-level commercial space at the corner of Hope and Burlington is a restaurant with a full bar and adaptable layout. There are three additional commercial spaces along Burlington Street, currently occupied by a tailor, pet groomer, and tattoo studio. Above, there are four residential units, including 3 one-bedroom, one-bath units and 1 two-bedroom, two-bath unit. The location benefits from proximity to restaurants, cafes, boutiques, Seven Stars Bakery, Blackstone Boulevard, College Hill, and the Pawtucket line. The property is positioned in one of Providence's dynamic neighborhoods. The property size is 7820 square feet and the lot size is 0.1145 acres. The zoning is C2.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.54M
NOI $138,796 @ 9.00% cap · cautious / downside scenario
Moderate
$1.98M
NOI $138,796 @ 7.00% cap · market / base-case scenario
Aggressive
$2.78M
NOI $138,796 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $192.4k | $24.60 |
| − Vacancy | −$7.3k | −$0.93 |
| EGI | $185.1k | $23.67 |
| − OpEx | −$46.3k | −$5.92 |
| NOI | $138.8k | $17.75 |
7,820 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,796 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,610 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$2.62M
$2.29M – $3.05M
NOI $183,135 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
KG Kitchen
Restaurant
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.395307
- Latitude
- 41.847798
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Highly visible corner property with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 771 Hope Street Providence, RI.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Highly visible corner location in the heart of Hope Village with exceptional exposure and steady foot traffic.; Ground‑level restaurant space currently leased to a highly anticipated culinary destination (Ciao Ciao).; Four residential units (3 one‑bedroom, 1 two‑bedroom) providing a strong income stream.
