Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Building in North Providence Title is generated by Realmo AI

    977 Mineral Spring, North Providence, RI 02904

    View on Map
    Claim this Listing
    For Sale
    $337,999

    Versatile commercial building with two units and parking.

    Type:Commercial
    Property size:
    1,500 SF
    Price / SF:
    $225/SF
    Added:
    Jan 10, 2026
    Days on Market:
    141
    Last Refresh:
    Apr 11 at 8:11 pm

    Property Features for 977 Mineral Spring

    General Information

    Standard status
    Active
    Size
    1,500 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1908

    We can help!

    Listing Contact
    THE ALBA GROUP

    Listing agent THE ALBA GROUP

    Listing office INNOVATIONS REALTY

    Listing date Jan 10, 2026

    Source Corcoran

    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 INNOVATIONS REALTY

    HighLights

    • Versatile commercial village‑zoned building with two distinct units.
    • Located on a busy street with great visibility and foot traffic.
    • Well‑maintained spaces in great shape.
    • Handy parking lot in the back for easy customer access.
    • Huge potential for all kinds of business ventures.
    • Prime investment opportunity in a thriving area.

    Overview

    This commercial building in North Providence features two distinct units. The spaces are well-maintained and offer potential for various business ventures. A parking lot is located in the back of the property. Situated on a busy street, the property offers visibility and foot traffic. The property size is 1500 square feet.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $27.0k $18.00
    − Vacancy −$2.8k −$1.87
    EGI $24.2k $16.13
    − OpEx −$7.3k −$4.84
    NOI $16.9k $11.29
    1,500 SF · lease $18.00/SF/yr · vacancy 10.40% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $241.9K
    $211.7K – $282.2K (±1% cap)
    NOI $16,934 @ 7.0% cap · market cap 5.01%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $356.8K
    $312.2K – $416.3K (±1% cap)
    NOI $24,976 @ 7.0% cap · market cap 7.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • Imondi & Sons Florists — 182 Smithfield Ave, Pawtucket, RI 02860
    • Michael Florist Ltd — 1171 Mineral Spring Ave, North Providence, RI 02904
    • Blossoms Design Boutique — 160 Smithfield Ave, Pawtucket, RI 02860
    • Stop & Shop Florist — North Providence, RI 02904

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4219545
    Latitude
    41.869458

    Nearby Similar for Sale

    • $549,900
      3,340 SF

      Renovated Two-Family Property

      Updated two-family home with modern amenities and convenient location.
      1111 Charles Street, North Providence, RI 02904
      View Details
    • $879,000
      3,901 SF

      Victorian Mixed-Use Redevelopment Opportunity

      Impeccably maintained mixed-use property in North Providence.
      1358 Smith Street, North Providence, RI 02911
      View Details
    • $629,000
      1,802 SF

      Renovated Two-Family Home, Lymansville

      Turnkey multi-family home near shopping, dining, and major highways.
      87 Lyman Avenue, North Providence, RI 02911
      View Details
    • $399,000
      3,339 SF

      North Providence Restaurant Opportunity

      Restaurant building for sale in high-traffic area.
      888 Charles Street, North Providence, RI 02904
      View Details
    • $879,000
      2,162 SF

      Victorian Mixed-Use Property For Sale

      Mixed-use property with redevelopment potential in North Providence, RI.
      1358 Smith Street, North Providence, RI 02911
      View Details
    • $585,900
      4,164 SF

      North Providence Multifamily with ADU

      Charming multifamily with ADU, move-in ready near major highways.
      10 Mecca Street, North Providence, RI 02904
      View Details
    • $449,000
      1,450 SF

      North Providence Two-Family Home

      Well-maintained two-family home in desirable Fruit Hill neighborhood.
      100 Lyman Avenue, North Providence, RI 02911
      View Details
    • $1,000
      204 SF

      North Providence Private Office Space

      Move-in ready office space with utilities included near Providence.
      1515 Smith Street, North Providence, RI 02911
      View Details
    • $350,000
      750 SF

      North Providence Commercial Business Opportunity

      Established business and property for sale in a prime location.
      1007 Charles Street, North Providence, RI 02904
      View Details
    • $1,800
      1,000 SF

      North Providence Commercial Space Available

      High-traffic location suitable for retail, offices, and service providers.
      1410 Mineral Spring Avenue, North Providence, RI 02904
      View Details
    • $1,500
      1,000 SF

      Prime Commercial Space, North Providence

      High-traffic location, flexible layout, ideal for retail or office.
      1410 Mineral Spring Avenue, North Providence, RI 02904
      View Details
    • $449,900
      1,246 SF

      Renovated Two-Family in North Providence

      Turnkey, fully furnished duplex generating income in a commuter-friendly location.
      106 Andover Street, North Providence, RI 02904
      View Details

    FAQs

    What type of property is this?
    Storefront property - Versatile commercial building with two units and parking.
    Where is this storefront property located?
    The property is located at 977 Mineral Spring North Providence, RI.
    What is the asking price?
    The asking price for this property is $337,999.
    What are key features of this property?
    This property features: Versatile commercial village‑zoned building with two distinct units.; Located on a busy street with **great visibility and foot traffic**.; Well‑maintained spaces in great shape.
    (401) 414-7414
    We can help!
    Listing Contact
    THE ALBA GROUP
    Learn More
    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
    977 Mineral Spring, North Providence, RI 02904
    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!