Versatile Commercial Property For
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904 Manton Avenue, Providence, RI 02909
Commercial property ideal for investors or business owners looking to expand.
Property Size3,000 SF
Price / SF$383.33
Days on Market636
Property Features for 904 Manton Avenue
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
30
Property subtype
Special Purpose
Building Details
Year Built
1992
Buildings
1
Listing Agency:
Century 21 The Seyboth Team
(508) 726-3492
Listed By:
Kyle Seyboth · License #RI, MA
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:09AM
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 Century 21 The Seyboth Team
Investment Insights
Based on property information with market context.
This commercial property, currently operating as an auto repair and related services shop, offers nearly 3,000 square feet of flexible space across two levels. The property features 15-17 foot ceilings and four oversized garage doors, providing accessibility for various business types. It is equipped with 220-volt power and includes multiple lifts that will remain with the sale. Ample off-street parking is available for clients and staff. The property's location near major highways and essential amenities enhances its accessibility. This space offers potential for repurposing or continuing its use as an automotive facility.
Key Highlights
- Turnkey auto repair shop with multiple lifts included in the sale.
- Nearly 3,000 square feet of flexible space across two levels.
- Four oversized garage doors and 15‑17 foot ceilings for excellent accessibility.
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
3.88%
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 3.88%
Second Best
Industrial
$423.9K
$370.9K – $494.6K
NOI $29,673 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$1.00M
$878.2K – $1.17M
NOI $70,256 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
70k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 37%
Electronics 1%
Wendy's
Dining
22,768 visits/mo
0.1 miles
Dunkin' Donuts
Dining
18,842 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
18,472 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,976 visits/mo
0.1 miles
Hometown Pizza
Dining
1,930 visits/mo
0.4 miles
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 Retail in Providence, RI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sonny´s Auto Repair — 31 Oakdale Ave, Johnston, RI 02919
- 44 Auto Concepts inc — 21 Oakdale Ave, Johnston, RI 02919
- 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 - Commercial property ideal for investors or business owners looking to expand.
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 $1,150,000.
What are key features of this property?
This property features: Turnkey auto repair shop with multiple lifts included in the sale.; Nearly 3,000 square feet of flexible space across two levels.; Four oversized garage doors and 15‑17 foot ceilings for excellent accessibility.
