Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Providence Retail Opportunity Title is generated by Realmo AI

    45 Newport Ave, East Providence, RI 02916

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail spaces available on Newport Ave with high visibility.

    Type:Retail
    Property size:
    2,600 SF
    Added:
    Jan 25, 2024
    Days on Market:
    856
    Last Refresh:
    May 12 at 9:56 pm

    Property Features for 45 Newport Ave

    General Information

    Standard status
    Active
    Size
    2,600 SF
    Property subtype
    Retail

    Spaces For Lease

    at 45 Newport Ave Contact us

    We can help!

    Listing Contact
    Eric Szczepkowski

    Listing agent Eric Szczepkowski License #MA 9067351

    Listing office Tri Town Retail Advisors

    Listing date Jan 25, 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 Tri Town Retail Advisors

    HighLights

    • High traffic count of 33,000 vehicles per day ensures maximum business exposure.
    • Signalized access shared with CVS enhances customer accessibility.
    • Two available spaces (1,560 sq ft and 2,600 sq ft) offer flexible options.
    • Spaces can be combined to create a larger retail area.
    • Located on Newport Ave, a bustling thoroughfare.
    • One space is a former Little Caesar's restaurant, potentially suitable for similar businesses.

    Overview

    Located at 45 Newport Ave in East Providence, RI, this property offers a retail opportunity with two available spaces. One space is a 1,560 sq ft former Little Caesar's restaurant, and the other is a 2,600 sq ft retail space. These spaces can be combined. The property is situated on Newport Ave, which experiences a traffic count of 33,000 vehicles per day. The property shares signalized access with CVS.
    Property Profile Location Intelligence

    Current Use by Public Records

    Newport Plaza Shopping Center & Mall Chelo's Hometown Bar ... Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.354426
    Latitude
    41.858827

    Nearby Similar for Lease

    • $3,000/Mo
      1,000 SF

      High-Visibility Commercial Space Available

      First-floor commercial unit ideal for retail, office, or service-based use.
      208 Warren, East Providence, RI 02914
      View Details
    • $25 SF/Yr
      2,376 SF

      Updated Corner Office Space Available

      Newly updated office space in a convenient location.
      400 Massasoit #307&308, East Providence, RI 02914
      View Details
    • $1,300/Mo
      535 SF

      East Providence Retail/Office Space

      First-floor unit with parking and street visibility on Warren Avenue.
      494 Warren, East Providence, RI 02914
      View Details
    • $3,000/Mo

      High-Visibility Commercial Space on Warren

      First-floor commercial unit ideal for retail, office, or service-based use.
      208 Warren Avenue, East Providence, RI 02914
      View Details
    • $8,995/Mo

      Auto Shop with Highway Access

      Commercial space with auto repair equipment and highway access.
      741 N Broadway, East Providence, RI 02914
      View Details
    • $2,000/Mo

      Renovated Commercial Space For Rent

      East Providence commercial space with excellent street visibility and easy access.
      158 Roger Williams #1, East Providence, RI 02916
      View Details
    • $18 SF/Yr
      3,200 SF

      Retail/Office Space in East Providence

      Well-maintained plaza with retail/warehouse tenants, ideal for retail/office.
      1235 wampanoag, East Providence, RI 02915
      View Details
    • $1,300/Mo

      East Providence Retail/Office Space

      First-floor unit with parking and street visibility on Warren Avenue.
      494 Warren Avenue, East Providence, RI 02914
      View Details
    • $8,995/Mo

      Auto Shop with Loyal Customer

      Commercial space with equipment and established customer base available for lease.
      741 N Broadway, East Providence, RI 02914
      View Details
    • $5,000/Mo
      3,795 SF

      East Providence Retail Space Available

      First-floor retail space with drive-up window and ample parking.
      999 South Broadway #1, East Providence, RI 02914
      View Details
    • $18 SF/Yr
      3,200 SF

      Retail/Office Space in East Providence

      Well-maintained plaza with retail/warehouse tenants, easy highway access.
      1235 Wampanoag Trail, East Providence, RI 02915
      View Details
    • $10 SF/Yr
      52,592 SF

      Former School Building For Lease

      52,600 SF former school building with kitchen and parking.
      55 Turner, East Providence, RI 02915
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail spaces available on Newport Ave with high visibility.
    Where is this retail space located?
    The property is located at 45 Newport Ave East Providence, RI.
    What are key features of this property?
    This property features: High traffic count of 33,000 vehicles per day ensures maximum business exposure.; Signalized access shared with CVS enhances customer accessibility.; Two available spaces (1,560 sq ft and 2,600 sq ft) offer flexible options.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eric Szczepkowski
    Real Estate License ID: MA 9067351
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    45 Newport Ave, East Providence, RI 02916
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!