834 Admiral Street Providence, RI 02904
Thriving restaurant property in a prime Providence corner lot.
Property Features for 834 Admiral Street
General Information
- Standard status
- Active
- Size
- 1,912 SF
- Property subtype
- Land, Retail
Building Details
- Year Built
- 1940
Listing office Residential Properties Ltd.
Listing date May 24, 2024
Source Crexi
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 Residential Properties Ltd.
Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key restaurant business opportunity.
- Prime corner lot location equidistant to Smith Hill, Oakland Ave., and Elmhurst.
- Adaptable layout with options for expansion and customization.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $24.60 |
| − Vacancy | −$1.8k | −$0.93 |
| EGI | $45.2k | $23.67 |
| − OpEx | −$11.3k | −$5.92 |
| NOI | $33.9k | $17.75 |
