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    134 Thurbers Ave Providence, RI 02905

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    For Lease
    Contact for pricing

    Prime location, renovated mill building, 7,708 SF available.

    Lot size:
    66,242 SF

    Property Features for 134 Thurbers Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    66,242 SF
    Class
    B
    Total Rate
    110403.33

    Building Details

    Year Renovated
    2000
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 134 Thurbers Ave, Providence, RI 02905 Contact us
    Unit Suite 201

    $24 /Mo

    Size
    7,708 SF
    Contact us

    We can help!

    Listing Contact
    Thomas Sweeney
    Thomas Sweeney

    Listing Agency: Sweeney Real Estate &Appraisal Listing Agent: Thomas Sweeney

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 66,242 square foot creative office building, located at 134 Thurbers Avenue in Providence, Rhode Island, presents a unique opportunity. The property, a converted mill, underwent renovations in 2000 and boasts a Class B rating. Currently, 7,708 square feet of space is immediately available, with a minimum divisible unit size of 2,500 square feet and a maximum contiguous space of 7,708 square feet. The two-story building features two passenger and freight elevators, ensuring efficient movement throughout the space. Conveniently situated just off I-95 at the intersection of Thurbers and Eddy Street, this location offers easy access to downtown Providence. The property sits on one acre of land and includes ample on-site parking, enhancing convenience for tenants and visitors. Security features include a secure lobby, adding to the overall safety and peace of mind. The building is also handicap accessible, promoting inclusivity. This property is ideal for businesses seeking a blend of character and modern amenities in a highly accessible location. The building consists of a single suite, offering a unique opportunity for a single large tenant or the possibility of subdividing the available space. Contact us today to learn more about this exceptional opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Women & Infants Hospital Medical Clinic Fertility Solutions Medical Clinic Family Service of Rhode ... Social Service Agency Gatsby Housing Associates Property Management Company Xiomara Rivera Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4052339
    Latitude
    41.7998146

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    FAQs

    What type of property is this?
    Office space - Prime location, renovated mill building, 7,708 SF available.
    Where is this office space located?
    The property is located at 134 Thurbers Ave Providence, RI.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: 66,242 SF Class B creative office building in Providence, RI.; 7,708 SF immediately available, divisible to 2,500 SF minimum.; Two-story building with two passenger/freight elevators, ample on-site parking, and secure lobby.
    (401) 331-9300 Call to check price and availability
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    134 Thurbers Ave Providence, RI 02905
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    Providence, RI 02905
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    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
    134 Thurbers Ave Providence, RI 02905
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    Contact for Pricing
    Please call us for current price
    and status of this listing Thomas Sweeney
    Thomas Sweeney
    (401) 331-9300
    Learn more
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