Two-Level Auto Shop with Garage
For Sale
$1,099,000
904 Manton Avenue, Providence, RI 02909
Existing automotive service facility with lift equipment, high ceilings, and off-street parking.
Property Size3,000 SF
Price / SF$366.33
Days on Market56
Property Features for 904 Manton Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
30
Property subtype
Commercial
Warehouse & Industrial
Drive-In Doors
4
Voltage
220 V
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,197
Building Details
Building Size
3,000 SF
Year Built
1992
Buildings
1
Stories
2
Units
1
Listing Agency:
Wm. J. Lynch & Sons
(401) 435-3601
Listed By:
John Lynch
(401) 435-3601
Source:
Liongatere
Added: Jun 16
Changed: Aug 10
Last Checked: Aug 10 at 4:21AM
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 Wm. J. Lynch & Sons
Investment Insights
Based on property information with market context.
Built in 1992, this two-level auto shop provides nearly 3,000 square feet of flexible commercial space for automotive operations. The building includes 15–17-foot ceilings, four oversized garage doors, 220-volt power, and multiple lifts that will remain with the sale. The current configuration supports continued use as an auto repair and related services facility.
Located at 904 Manton Avenue in Providence, the property offers 30 off-street parking spaces and convenient proximity to major highways. Its combination of service-oriented improvements, vehicle access, and adaptable interior space provides a practical setup for an automotive business or another use suited to the existing building features.
Located at 904 Manton Avenue in Providence, the property offers 30 off-street parking spaces and convenient proximity to major highways. Its combination of service-oriented improvements, vehicle access, and adaptable interior space provides a practical setup for an automotive business or another use suited to the existing building features.
Key Highlights
- Nearly 3,000 square feet across two levels
- 15–17‑foot ceilings and four oversized garage doors
- 220‑volt power and multiple lifts included with the sale
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
$44,662
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
4.06%
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%
$893,240
$893.2K
Cap Rate 7%
$638,029
$638.0K
Cap Rate 9%
$496,244
$496.2K
Market Conditions
NOI Build-Up for 3,000 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
$66.6K $22.20/SF
− Vacancy
−$2.8K −$0.93/SF
EGI
$63.8K $21.27/SF
− OpEx
−$19.1K −$6.38/SF
NOI
$44.7K $14.89/SF
Area
Providence, RI
Vacancy
4.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$893,240
Cap Rate 7%
$638,029
Cap Rate 9%
$496,244
Alternative Uses
Best Use
Retail
$638.0K
$558.3K – $744.4K
NOI $44,662 @ 7.0% cap · market cap 4.06%
Second Best
Flex RnD
$575.1K
$503.3K – $671.0K
NOI $40,260 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.00M
$878.2K – $1.17M
NOI $70,256 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Industrial in Providence, RI
Questions? Ask Rey
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Similar Off Market Nearby
- Sonny´s Auto Repair — 31 Oakdale Ave, Johnston, RI 02919
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- MR.WRAP — 16 Alcazar Ave UNIT 3, Johnston, RI 02919
- Quetzal Auto Repair — 1075 Atwells Ave, Providence, RI 02909
- DCJ Auto Repair — 559 killingly st, johnston, ri 02919
Frequently Asked Questions
What type of property is this?
Auto shop - Existing automotive service facility with lift equipment, high ceilings, and off-street parking.
Where is this auto shop located?
The property is located at 904 Manton Avenue Providence, RI.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Nearly 3,000 square feet across two levels; 15–17‑foot ceilings and four oversized garage doors; 220‑volt power and multiple lifts included with the sale
