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    214 Broadway Providence, RI 02903

    Sponsored
    For Sale
    $1,050,000

    High-yield retail property, 100% leased.

    Property size:
    4,320 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional retail investment opportunity presents a 4,320 square foot, two-unit building situated on a prominent 14,130 square foot corner lot in Providence, Rhode Island, at 214 Broadway, zip code 02903. The property boasts excellent curb appeal and is currently 100% leased to two high-quality tenants: D'Angelo's, occupying 75% of the space on a triple-net (NNN) lease, and Metro PCS, leasing the remaining portion on a gross lease. Both tenants have established a long-term presence. The building features ample on-site parking with 23 spaces and three convenient curb cuts, enhancing accessibility and visibility. Strong pylon signage further contributes to the property's marketing potential. The property offers a compelling 8.77% capitalization rate with a net operating income (NOI) of $92,035.72 and is zoned MO. Annual property taxes are $7,944.48. This investment is ideally positioned within a high-traffic area, benefiting from proximity to major thoroughfares including Broadway, Exchange Street, and I-95, with a combined population density exceeding 115,500 people. The asking price for this exceptional retail investment is $1,050,000.

    Property Features for 214 Broadway

    General Information

    Property type
    Retail properties
    Square Feet
    4,320 SF

    HighLights

    • Excellent retail investment opportunity available.
    • Fully leased with two high‑quality tenants.
    • Ample parking with 23 spaces.
    • Three convenient curb cuts for easy access.
    • Attractive 8.77% cap rate.
    • MO zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4244763
    Latitude
    41.8207535

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    FAQs

    What type of property is this?
    Retail property - High-yield retail property, 100% leased.
    Where is this retail property located?
    The property is located at 214 Broadway Providence, RI.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: Excellent retail investment opportunity available.; Fully leased with two high-quality tenants.; Ample parking with 23 spaces.
    (401) 751-3200
    Request Owner's contact information
    214 Broadway Providence, RI 02903
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    Providence, RI 02903
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    Realmo Value Estimation

    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.

    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.

    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
    214 Broadway Providence, RI 02903
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