Mixed-Use Building with
New
For Sale
$759,900
858 Broad Street, Providence, RI 02907
Two apartments, each with three bedrooms, sit above two commercial storefronts in a flexible income-producing configuration.
Property Size3,925 SF
Price / SF$193.61
Days on Market4
Property Features for 858 Broad Street
General Information
Standard status
Active
Size
3,925 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
ERA Empire Real Estate
(401) 217-4442
Listed By:
Ashly Monteiro · License #RES.0044144
(401) 588-4101
Source:
Lockandkeyre
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 4 at 7:15AM
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 ERA Empire Real Estate
Investment Insights
Based on property information with market context.
This 3,925-square-foot mixed-use property contains two commercial storefronts and two residential apartments. Each apartment has three bedrooms, updated interiors, and off-street parking. Built in 1910, the building combines retail and residential space in one property.
The property is located near Downtown Providence, with highways, shopping, dining, hospitals, schools, and public transportation in the surrounding area.
The property is located near Downtown Providence, with highways, shopping, dining, hospitals, schools, and public transportation in the surrounding area.
Key Highlights
- Two commercial storefronts and two residential apartments
- Both apartments have three bedrooms and updated interiors
- Off‑street parking serves the residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,532
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,640
$1.2M
Cap Rate 7%
$850,457
$850.5K
Cap Rate 9%
$661,467
$661.5K
Market Conditions
NOI Build-Up for 3,925 SF
Gross rent
$115.4K $29.40/SF
− Vacancy
−$7.2K −$1.82/SF
EGI
$108.2K $27.58/SF
− OpEx
−$48.7K −$12.41/SF
NOI
$59.5K $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 Rate 5%
$1,190,640
Cap Rate 7%
$850,457
Cap Rate 9%
$661,467
Alternative Uses
Best Use
Apartment 5plus
$850.5K
$744.2K – $992.2K
NOI $59,532 @ 7.0% cap · market cap 7.83%
Second Best
Retail
$834.8K
$730.4K – $973.9K
NOI $58,433 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,919 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,598
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments, each with three bedrooms, sit above two commercial storefronts in a flexible income-producing configuration.
Where is this mixed-use property located?
The property is located at 858 Broad Street Providence, RI.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: Two commercial storefronts and two residential apartments; Both apartments have three bedrooms and updated interiors; Off‑street parking serves the residential units
