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    1017 Smith St Providence, RI 02908
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    1017 Smith St Providence, RI 02908

    View on Map
    • Showrooms
    • 4,923 SF
    • 0.27 lot acres
    For Sale
    $755,000
    View Listing →
    Providence Retail Space For Sale For Sale
    $755,000
    1,800 SF

    Providence Retail Space For Sale

    Corner retail space with parking in vibrant plaza.

    1017 Smith Street, Providence, RI 02908
    View Listing
    Property ID
    US76-0067826
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fialho's Barbershop / Barber Shop
    • Subway / Take-out & Catering
    • Western Union / Bank / Credit Union
    • UPS Access Point location / Courier Service / Postal Service
    • AJ Pharmacy/Compounding / Pharmacy

    Property Details for 1017 Smith St

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.27 lot acres
    Property size
    4,923 SF
    Zone code
    C-1
    Property type
    Showrooms
    APN
    PROV M:85 L:57
    APU
    PROVM85L57

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $832,000
      Market price range: $407k - $952k
      AI Estimate
      $713,000
      Market price range: $349k - $855k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $705,000
      Current use
      OFFICE BUILDING
      $1,055,000
      Change: +50% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4458
    Latitude
    41.8431
    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
    $19,807
    $140,700
    $423,600
    $564,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      228 Oakland Ave

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      353 Admiral St

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      353 Admiral St, Providence, RI 02908-2536
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    • Value Estimation
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      10,234 SF

      1037 Chalkstone Ave

      SHOW ROOM, WAREHOUSE • 10,234 SF
      1037 Chalkstone Ave, Providence, RI 02908
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      3,762 SF

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      SHOW ROOM, WAREHOUSE • 3,762 SF
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    • Value Estimation by Request
      4,400 SF

      36 Pleasant Vly Pkwy

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    Similar Nearby for Sale

    • New
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      1,800 SF

      Providence Retail Space For Sale

      Corner retail space with parking in vibrant plaza.
      1017 Smith St, Providence, RI 02908
      View Details
    • $499,900

      Providence Commercial Corner Lot

      High-visibility commercial lot on Smith Street, Providence.
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      31,358 SF

      Refrigerated Food Processing Facility

      31,358 SF USDA certified facility near I-95.
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    • $455,000
      Pending

      Townhouse-Style Duplex Near Providence College

      Townhouse-style duplex with upgrades near Providence College and downtown.
      466 Admiral St, Providence, RI 02908
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    • $699,900
      Pending

      Providence Multifamily Development Opportunity

      Two buildings near Providence College with residential conversion potential.
      544 Douglas Ave, Providence, RI 02908
      View Details
    • $599,900
      0.09 Acres

      Renovated Multifamily Property, Providence

      Two-unit multifamily with modern updates and strong income potential.
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    Similar Nearby for Lease

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      10,261 SF

      Providence Retail Space For Rent

      Retail space near Providence College with strong parking.
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      1,422 SF

      Restaurant Space in Aldi Plaza

      1,422 SF restaurant space in high-traffic Providence shopping center.
      541 Smith St, Providence, RI 02908
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    • $17 SF/Yr

      Retail Space in Vibrant Plaza

      Corner retail space with parking in a vibrant plaza.
      1017 Smith St, Providence, RI 02908
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      Restaurant End Cap Unit

      Restaurant space in high-traffic shopping center near Aldi.
      539 Smith St, Providence, RI 02908
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      Historic Office Building with Mezzanine

      Two-story office building with exposed structures and large clerestory.
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      View Details
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      Restored Mill Campus Office Center

      Mixed-use destination with commercial office and loft-style apartment living.
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      View Details

    Property Visit Statistics

    • Visits by month
      1.5k
    • Visitors by month
      1.4k
    • Avg Time on site
      38 min
    View Listing
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    1017 Smith St
    Providence, RI 02908
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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.

    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
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