Three-Story Office Building For
999 South Broadway East Providence, RI 02914
For Sale
$2,000,000
Versatile office building with established tenants and convenient location.
Property Size11,385 SF
Price / SF$175.67
Days on Market459
Property Features for 999 South Broadway
General Information
- Standard status
- Active
- Size
- 11,385 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing Agency:
Coldwell Banker Realty
(401) 486-2911
Listed By:
The Saccoccio Group · License #BK3153120
(401) 486-2911
Source:
Liongatere
Added: Apr 25, 2025
Changed: Jul 10
Last Checked: Jul 26 at 4:29PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This three-story brick office building offers 11,385 square feet of space and is serviced by a passenger elevator. Originally constructed as a credit union headquarters, the building provides versatile spaces across its three floors. The first floor, comprising 3,795 square feet, is currently vacant and formerly housed a credit union branch. It features a bank vault, drive-up lanes, and teller windows, making it adaptable for various uses. The second floor, also 3,795 square feet, is currently occupied by the building owner, who operates a medical practice, and is available under a lease-back agreement with proposed terms including a three-year lease with two optional one-year extensions. The third floor, also 3,795 square feet, is currently leased by an advertising agency, ensuring an established tenant. The property features excellent visibility and ample onsite parking, with additional parking available across the street for staff and company vehicles. The building is conveniently located minutes from Route 95 and downtown Providence, and is approximately 45 minutes from Boston.
Key Highlights
- Excellent location: Minutes from Route 95 and downtown Providence, 45 minutes from Boston.
- Ample onsite parking and additional parking across the street.
- Established tenant on the third floor (advertising agency) provides immediate income.
Financial Insights For Office B
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 | $228.2k | $20.04 |
| − Vacancy | −$31.9k | −$2.81 |
| EGI | $196.2k | $17.23 |
| − OpEx | −$49.1k | −$4.31 |
| NOI | $147.2k | $12.93 |
11,385 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.10M
$1.84M – $2.45M
NOI $147,160 @ 7.0% cap · market cap 7.36%
Second Best
Healthcare Medical
$1.58M
$1.38M – $1.84M
NOI $110,318 @ 7.0% cap · market cap 5.52%
Theoretical Best
Multifamily LT 5
$2.71M
$2.37M – $3.16M
NOI $189,566 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
FedEx Drop Box
Postal Service
Premier Medical Group
Hospital
Muhammad S. Akhtar
Physician
Lisa Janicki
Physician
Dr. Holly Puleo
Physician
FAQs
What type of property is this?
Office building - Versatile office building with established tenants and convenient location.
Where is this office building located?
The property is located at 999 South Broadway East Providence, RI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Excellent location: Minutes from Route 95 and downtown Providence, 45 minutes from Boston.; Ample onsite parking and additional parking across the street.; Established tenant on the third floor (advertising agency) provides immediate income.
