Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    117 Broadway St Providence, RI 02903

    • Commercial real estate
    • 7,526 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 117 Broadway St

    Year built
    1935
    Lot size
    0.07 lot acres
    Property size
    7,526 SF
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use property at 117 Broadway Street in Providence, RI, presents a unique investment opportunity. The 7,526 square foot building boasts five upscale, turnkey residential units, each meticulously designed with contemporary flair and timeless sophistication. High ceilings, custom accent walls, and abundant natural light create a welcoming atmosphere in every unit. Sleek black and gold hardware, pendant lighting, and matte hardwood floors add to the refined aesthetic. Kitchens feature quartz countertops, organic white subway tile backsplashes, ample cabinetry, and sparkling appliances. Bathrooms showcase luxurious glass showers and marble tile details. Laundry hookups are conveniently located within each unit. The building also includes a high-visibility commercial unit, ideal for a variety of businesses. Adding to the property's potential is an adjacent 0.07-acre buildable lot, perfect for additional parking or a new construction project. Up to ten parking spaces are currently available. The building's prime location in the heart of Providence offers unparalleled convenience, with easy access to Broadway, Federal Hill, major routes, and highways. Breathtaking city views are visible from many areas of the building. This property is set up for potential condo conversion and is suitable for investment rentals, short-term rentals, or hospitality use. Don't miss this chance to own a piece of Providence's vibrant urban landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4213
    Latitude
    41.8219

    Comparable in this City

    • Value Estimation by Request
      1,278 SF

      65 Weybosset St

      Restaurants • 1,278 SF
      65 Weybosset St, Providence, RI 02903
      View Details
    • Value Estimation by Request
      0.47 Acres

      65 Weybosset St

      Individual retail properties • 1,278 SF
      65 Weybosset St, Providence, RI 02903
      View Details
    • Value Estimation by Request

      755 Westminster St, Unit S5A

      COMMERCIAL CONDOMINUIM
      755 Westminster St, Providence, RI 02903-4071
      View Details
    • Value Estimation
      $360,000
      19.30 Acres

      120 Allens Ave

      COMMERCIAL (GENERAL) • 19.30 Acres
      120 Allens Ave, Providence, RI 02903
      View Details
    • Value Estimation
      $680,000
      5,745 SF

      288 Kinsley Ave

      COMMERCIAL (GENERAL) • 5,745 SF
      288 Kinsley Ave, Providence, RI 02903-1017
      View Details
    • Value Estimation
      $760,000
      29,406 SF

      410 Main St

      SHOW ROOM, WAREHOUSE • 29,406 SF
      410 Main St, Providence, RI 02903-2982
      View Details

    Similar Nearby for Sale

    • $2,225,000

      Providence Commercial Land Investment

      Prime Providence location, high visibility, development potential.
      875 Westminster St, Providence, RI 02903
      View Details
    • $349,000
      2,279 SF

      Downtown Providence Office Condo

      Historic building, modern office space, 2,279 sq ft.
      127 Dorrace St, Providence, RI 02903
      View Details
    • $300,000

      Prime Providence Retail Land

      Historic Downtown RI lot, high foot traffic.
      65 Weybosset St, Providence, RI 02903
      View Details
    • $850,000

      Providence Mixed-Use Investment Opportunity

      7,114 sq ft lot, office/residential potential
      14 Imperial Pl, Providence, RI 02903
      View Details
    • $409,000
      0.47 Acres

      Providence Arcade Retail Space

      Historic Downtown Providence Restaurant/Retail
      65 Weybosset St, Providence, RI 02903
      View Details
    • $1,850,000
      18,000 SF

      Downtown Providence Commercial Gem

      18,000 sq ft, 3-story building, prime location
      184 Broad St, Providence, RI 02903
      View Details

    Similar Nearby for Lease

    • $348 /Mo
      3,600 SF

      Federal Hill Office Space Available

      Prime Providence Office, 1200 SF Available
      108 Spruce St, Providence, RI 02903
      View Details
    • $25 SF/Yr
      10,004 SF

      Prime Providence Medical Office Space

      10,004 SF Medical Office in RI
      68 Kennedy Plz, Providence, RI 02903
      View Details
    • $19 SF/Yr
      16,812 SF

      Prime Providence Executive Office Space

      16,812 SF Class A Office, 3,893 SF Available
      0 1 Smith Hl, Providence, RI 02903
      View Details
    • $19 SF/Yr
      4,500 SF

      Downtown Office Space with Light

      Office space with high ceilings, oversized windows, and natural light.
      400 Westminster St, Providence, RI 02903
      View Details
    • Contact for pricing
      70,745 SF

      Providence Office Space For Rent

      70,745 SF office building available for lease.
      15 Park Row West, Providence, RI 02903
      View Details
    • $26 SF/Yr
      37,500 SF

      Prime Providence Office Space

      7,500 SF Full-Floor Office Suite
      56 Exchange Ter, Providence, RI 02903
      View Details
    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.
    117 Broadway St
    Providence, RI 02903
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.