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    1729 Smith St North Providence, RI 02904

    • Showrooms
    • 4,182 SF
    • 0.49 lot acres
    For Sale
    View listing
    $1,599,000
    Last Sale
    May 18, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0137749
    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

    • Showrooms

    Property Details for 1729 Smith St

    Year built
    2023
    Construction
    WOOD FRAME
    Lot size
    0.49 lot acres
    Property size
    4,182 SF
    Zone code
    CV
    Property type
    Showrooms
    APN
    NPRO M:16 L:595
    APU
    NPROM16L595

    Description

    This exceptional commercial property, located at 1729 Smith Street in North Providence, Rhode Island, presents a unique investment opportunity. The property consists of a brand-new, 2024-built, three-unit strip center totaling 4,182 rentable square feet, situated on a sizable 21,300 square foot lot (approximately half an acre). Its contemporary design offers a fresh and appealing space for tenants. The flexible layout is ideal for a variety of retail or office uses. Currently, one unit is already leased, providing immediate income potential, while two units remain available for lease, allowing for customization of the tenant mix. The property benefits from its prime location on busy Smith Street in North Providence, RI, 02904, ensuring high visibility and convenient access for customers and employees. Ample parking is available on the spacious lot. This property is perfect for investors seeking a strong return or businesses looking for a modern, high-traffic location to establish or expand their operations. The asking price for this exceptional opportunity is $1,599,000. This is a turnkey opportunity in a thriving Rhode Island market.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4697
    Latitude
    41.8546
    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
    2024
    $11,747
    $143,900
    $359,200
    $503,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $250,000
      2,217 SF

      2207 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 2,217 SF
      2207 Mineral Spg Ave, North Providence, RI 02911-1741
      View Details
    • Value Estimation
      $385,000
      4,200 SF

      2078 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 4,200 SF
      2078 Mineral Spg Ave, North Providence, RI 02911
      View Details
    • Value Estimation
      $405,000
      5,750 SF

      5 Humbert St

      SHOW ROOM, WAREHOUSE • 5,750 SF
      5 Humbert St, North Providence, RI 02911-2721
      View Details
    • Value Estimation
      $555,000
      2,800 SF

      1 Falco St

      SHOW ROOM, WAREHOUSE • 2,800 SF
      1 Falco St, North Providence, RI 02911-2407
      View Details
    • Value Estimation
      $435,000
      5,984 SF

      245 Waterman Ave

      SHOW ROOM, WAREHOUSE • 5,984 SF
      245 Waterman Ave, North Providence, RI 02911-1043
      View Details
    • Value Estimation
      $265,000
      2,998 SF

      21 Waterman Ave

      SHOW ROOM, WAREHOUSE • 2,998 SF
      21 Waterman Ave, North Providence, RI 02911-1083
      View Details

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    1729 Smith St
    North 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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