Mixed-Use Building with
New
For Sale
$715,000
858 Broad, Providence, RI 02907
Two commercial storefronts and two apartments combine business space with residential rental units.
Property Size3,934 SF
Price / SF$181.75
Days on Market6
Property Features for 858 Broad
General Information
Standard status
Active
Size
3,934 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,656
Amenities
Baseboard Heating
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
THE NETWORK
(401) 467-3303
Listed By:
BRAULIO DIAZ
Source:
Corcoran
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 7:02AM
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 THE NETWORK
Investment Insights
Based on property information with market context.
This mixed-use building at 858 Broad includes 3,934 square feet arranged with two commercial storefronts and two residential apartments. The configuration supports a combination of commercial occupancy and residential rental use within one property, with the storefront component positioned along Broad Street.
The commercial spaces have street-facing exposure and are described as suitable for retail, office, service, or professional businesses. The property is near shopping, restaurants, schools, hospitals, public transportation, and major highways, with access to downtown Providence also noted. Built in 1910, the building offers a compact multi-use layout for an investor or an owner-occupant seeking business space alongside residential units.
The commercial spaces have street-facing exposure and are described as suitable for retail, office, service, or professional businesses. The property is near shopping, restaurants, schools, hospitals, public transportation, and major highways, with access to downtown Providence also noted. Built in 1910, the building offers a compact multi-use layout for an investor or an owner-occupant seeking business space alongside residential units.
Key Highlights
- 3,934‑square‑foot mixed‑use building at 858 Broad
- Two commercial storefronts and two residential apartments
- Street‑facing commercial spaces along Broad Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,669
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,193,380
$1.2M
Cap Rate 7%
$852,414
$852.4K
Cap Rate 9%
$662,989
$663.0K
Market Conditions
NOI Build-Up for 3,934 SF
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.
Gross rent
$115.7K $29.40/SF
− Vacancy
−$7.2K −$1.82/SF
EGI
$108.5K $27.58/SF
− OpEx
−$48.8K −$12.41/SF
NOI
$59.7K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,193,380
Cap Rate 7%
$852,414
Cap Rate 9%
$662,989
Alternative Uses
Best Use
Apartment 5plus
$852.4K
$745.9K – $994.5K
NOI $59,669 @ 7.0% cap · market cap 8.35%
Second Best
Retail
$836.7K
$732.1K – $976.1K
NOI $58,567 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,130 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,819
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
9,491 visits/mo
0.4 miles
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
Market
Vacancy Rate% for Retail in Providence, RI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial storefronts and two apartments combine business space with residential rental units.
Where is this mixed-use property located?
The property is located at 858 Broad Providence, RI.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 3,934‑square‑foot mixed‑use building at 858 Broad; Two commercial storefronts and two residential apartments; Street‑facing commercial spaces along Broad Street
