Property profile

188 Providence Ri Providence, RI 02909

OFF-MARKET
Retail properties & Spaces
2,600 SF Built 1887
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Property summary

AI-generated overview

This exceptional 2,600-square-foot restaurant space, located in the desirable Providence, RI submarket of Greater Boston, is available for lease starting January 1st, 2024. Situated within the Rising Sun Mills mixed-use campus at 188 Valley Street, Building 10, this single-tenant property boasts a rich history, having been built in 1887 and renovated in 2017. The Class B building offers a charming atmosphere combined with modern conveniences. The space includes a full commercial kitchen, a spacious dining room with seating for approximately 50 guests, two private restrooms, a bar counter, and a checkout counter. High ceilings add to the ambiance. Additional features include a full basement, attic space, a storage shed, a patio area, and raised garden beds. Ample on-site parking is available for both employees and customers. The property is ideal for an established restaurant or cafe seeking expansion or relocation. The lease requires operation serving at least two of the three main meals (breakfast, lunch, or dinner) for at least five days a week. The current asking rent is $16.15 per square foot per year, plus utilities and a pro-rata share of common area maintenance (CAM) charges. This unique opportunity allows a business to become a vital part of Providence's thriving culinary scene. The previous tenant, Easy Entertaining, successfully operated from this location before purchasing their own building.

Property profile

Verified
Property type Retail properties & Spaces
Year built 1887
Total area 2,600 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

188 Providence Ri Providence, RI 02909
Providence metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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