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    834 Admiral St Providence, RI 02904

    • Showrooms
    • 1,854 SF
    • 0.05 lot acres
    For Sale
    View listing
    $150,000
    Last Sale
    Sep 16, 2020
    $139,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0142415
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Corner Grill / Halal Restaurant

    Property Details for 834 Admiral St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.05 lot acres
    Property size
    1,854 SF
    Zone code
    C-1
    Property type
    Showrooms
    APN
    PROV M:124 L:508
    APU
    PROVM124L508

    Description

    This exceptional commercial property at 834 Admiral Street in Providence, Rhode Island, presents a unique opportunity for a savvy investor or restaurateur. Boasting 1,912 square feet on a 0.06-acre corner lot, this property comprises two buildings within a strip mall and offers state-of-the-art culinary facilities. The spacious dining area features high chairs and a bar counter, providing a flexible layout adaptable to various concepts. Whether you envision expanding the existing dining space, creating private event areas, or adding new amenities like a coffee shop, the possibilities are endless. Its prime location offers excellent visibility and accessibility, equidistant to Smith Hill, Oakland Avenue, and Elmhurst, placing it within thriving commercial districts and vibrant neighborhoods. The property benefits from convenient access to key transportation arteries, making it easily accessible to customers from across Providence and neighboring areas like North Providence. This turn-key business opportunity is minutes from downtown Providence, offering a blend of historic charm and modern functionality. The building's prominent location and architectural allure make it a recognizable landmark in the community, attracting both local residents and visitors. The asking price is $450,000. This is a rare chance to acquire a thriving business in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $165,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $180,000
      6.5%
      $185,000
      7%
      $170,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $160,000
      Geo Method
      $150,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $185,000
      Retail
      $145,000
      Mixed-Use
      $150,000
      Hospitality
      $155,000
      Educational
      $145,000
      Residential Income
      $150,000
      Energy
      $185,000
      Income-Based Land
      $135,000
      Food Service
      $180,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4443
    Latitude
    41.8512
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,297
    $63,800
    $87,100
    $150,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
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      70 Powell St

      SHOW ROOM, WAREHOUSE • 84,645 SF
      70 Powell St, Providence, RI 02904-3020
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      1039 Br Ave

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      381 Charles St

      SHOW ROOM, WAREHOUSE • 115,519 SF
      381 Charles St, Providence, RI 02904
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    • Value Estimation by Request
      9,677 SF

      200 Hawkins St

      SHOW ROOM, WAREHOUSE • 9,677 SF
      200 Hawkins St, Providence, RI 02904-2216
      View Details

    Similar Nearby for Sale

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      Mello Building: Prime Providence Location

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    • $375,000
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      Providence Commercial Space For Sale

      1,854 SF commercial space suitable for restaurant or retail.
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    Similar Nearby for Lease

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      Modern Showroom/Office Space Available

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    • $1,500 /Mo
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    • Contact for pricing
      8,000 SF

      Mineral Spring Avenue Retail Opportunity

      Retail/Restaurant space with drive-thru option available on Mineral Spring Avenue.
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    • Contact for pricing
      1,200 SF

      Retail Space in High-Volume Location

      Retail space available in a high-traffic urban area.
      33-41 Smithfield Rd, N Providence, RI 02904
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      Renovated Commercial Space Available

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    834 Admiral St
    Providence, RI 02904
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    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.

    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
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