Restaurant Condo with Equipped
For Sale
$725,000
A-150 Chestnut St, Providence, RI 02904
First-floor space includes commercial kitchen equipment, walk-in refrigeration, a bar, and multiple seating areas.
Property Size3,580 SF
Price / SF$202.51
Days on Market13
Property Features for A-150 Chestnut St
General Information
Standard status
Active
Size
3,580 SF
Zoning
D-2
Additional Details
Floor
1
Taxes and HOA fees
Annual Taxes
$11,522
Building Details
Construction
brick
Tenancy
Multi
Listing Agency:
Peter M. Scotti & Assoc., Inc.
Listed By:
Heather Carnevale
(401) 421-8888
Source:
Exprealty
Added: Oct 1
Changed: Oct 13
Last Checked: Oct 13 at 1:35AM
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 Peter M. Scotti & Assoc., Inc.
Investment Insights
Based on property information with market context.
This first-floor restaurant condominium encompasses 3,580 square feet and is configured for dining and lounge service. Existing features include a fully equipped kitchen, walk-in refrigeration, a stone-topped bar, and seating areas. The property is within the historic Doran Building, which also contains residential, loft, office, studio, and commercial spaces. D-2 zoning may allow a change of use.
The condominium is on Chestnut Street in Providence’s Jewelry/Knowledge District. Brown University Medical School, research labs, offices, residences, hotels, restaurants, and entertainment destinations are within walking distance.
The condominium is on Chestnut Street in Providence’s Jewelry/Knowledge District. Brown University Medical School, research labs, offices, residences, hotels, restaurants, and entertainment destinations are within walking distance.
Key Highlights
- 3,580‑square‑foot restaurant condominium on the first floor
- Fully equipped kitchen with walk‑in refrigeration
- Stone‑topped bar and multiple seating areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,541
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,820
$1.3M
Cap Rate 7%
$907,729
$907.7K
Cap Rate 9%
$706,011
$706.0K
Market Conditions
NOI Build-Up for 3,580 SF
Gross rent
$88.1K $24.60/SF
− Vacancy
−$3.3K −$0.93/SF
EGI
$84.7K $23.67/SF
− OpEx
−$21.2K −$5.92/SF
NOI
$63.5K $17.75/SF
Area
Providence, RI
Vacancy
3.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,820
Cap Rate 7%
$907,729
Cap Rate 9%
$706,011
Alternative Uses
Best Use
Specialty Retail
$907.7K
$794.3K – $1.06M
NOI $63,541 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,839 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 34%
Home Improvements & Furnishings 31%
Lowe's
Home Improvements & Furnishings
25,386 visits/mo
0.4 miles
McDonald's
Dining
21,001 visits/mo
0.4 miles
Citizens Bank
Shops & Services
9,352 visits/mo
0.3 miles
Dunkin' Donuts
Dining
8,218 visits/mo
0.3 miles
Cumberland Farms
Shops & Services
8,136 visits/mo
0.4 miles
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Market
Vacancy Rate% for Retail in Providence, RI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - First-floor space includes commercial kitchen equipment, walk-in refrigeration, a bar, and multiple seating areas.
Where is this conventional restaurant located?
The property is located at A-150 Chestnut St Providence, RI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,580‑square‑foot restaurant condominium on the first floor; Fully equipped kitchen with walk‑in refrigeration; Stone‑topped bar and multiple seating areas
