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    Property profile & analytics

    1058 Charles St North Providence, RI 02904-4949

    • Commercial land
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0252571
    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

    • Commercial land

    Property Details for 1058 Charles St

    Lot size
    0.15 lot acres
    Zone code
    CV
    Property type
    Commercial land
    APN
    NPRO M:2 L:262
    APU
    NPROM2L262

    Description

    This exceptional North Providence property at 1058 Charles Street offers a unique investment opportunity encompassing a fully equipped, 5,000 square foot restaurant and adjacent mixed-use building. The restaurant boasts a complete kitchen, dining area, two custom mahogany bars, a coal-fired pizza oven, extensive lower-level storage, refrigeration, freezer, and keg room. This is a true turn-key operation, ready for immediate occupancy. The adjacent mixed-use building adds significant value, featuring approximately 1,000 square feet of retail space and two apartments – one one-bedroom and one two-bedroom unit. The property is conveniently located in Providence County, Rhode Island, with the address being 1058 Charles Street, North Providence, RI 02904. Ample parking is provided by 55 spaces across the street, with additional buildable land offering potential for future residential development. The property includes Plat 2, Lots 250 & 262, Lot 249, Lot 264 and Lot 247. This combined offering presents a rare chance to acquire a thriving restaurant business alongside substantial additional income-generating assets in a desirable location. The property is a single-tenant occupancy, offering a streamlined management experience. The combined square footage of the restaurant and retail space totals 5,000 square feet, all currently vacant and ready for immediate use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4245
    Latitude
    41.8675
    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
    $2,354
    $96,500
    $4,300
    $100,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      104 Nashua St

      VACANT COMMERCIAL LAND • 0.11 Acres
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      0.92 Acres

      450 Charles St

      VACANT COMMERCIAL LAND • 0.92 Acres
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    • Value Estimation by Request
      0.13 Acres

      555 Charles St

      VACANT COMMERCIAL LAND • 0.13 Acres
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      0.77 Acres

      380 Charles St

      VACANT COMMERCIAL LAND • 0.77 Acres
      380 Charles St, Providence, RI 02904
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    • Value Estimation by Request
      0.12 Acres

      67 Ashburton St

      VACANT COMMERCIAL LAND • 0.12 Acres
      67 Ashburton St, Providence, RI 02904
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    Similar Nearby for Sale

    • Contact for pricing

      Vacant Land Development Opportunity

      2.8 acres of cleared land on Charles St, Providence.
      450-456 Charles St, Providence, RI 02904
      View Details
    • $399,900

      Prime North Providence Retail Land

      1920s building, 5,227 sq ft lot, high potential.
      1005 Charles St, North Providence, RI 02904
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    • $1,749,000
      4,878 SF

      Prime RI Retail Center

      High-traffic corner lot, 4,878 SF
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      Prime RI Mixed-Use Investment

      High-Yield Residential & Commercial
      0 1158, North Providence, RI 02904
      View Details
    • $185,000
      0.08 Acres

      Vacant Lot in Providence

      R-3 zoned vacant lot, build in a developing neighborhood.
      85 Ledge St, Providence, RI 02904
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    • $350,000
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      Land in Providence, RI

      Vacant land suitable for multi-family development in Providence.
      8 Ianthe St, Providence, RI 02904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      80,000 SF

      9.07 Acre Land Parcel

      9.07 acre land parcel available for ground lease or build-to-suit.
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      View Details
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      17,640 SF

      Half-Acre Corner Pad Site

      Half-acre land parcel for lease at traffic-controlled intersection.
      1830 Mineral Spring Ave, North Providence, RI 02904
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      3,024 SF

      Renovated Commercial Space Available

      Versatile renovated space suitable for office, retail, or medical use.
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    • Contact for pricing
      1,335 SF

      Retail Space in Douglas Crossings

      Highly visible shopping center with retail space available for lease.
      1650-1668 Mineral Spring Ave N, Providence, RI 02904
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    • Contact for pricing
      29,765 SF

      Douglas Crossing Retail Center

      High-Visibility Retail Space Available
      1650 Mineral Spring Ave, North Providence, RI 02904
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    • $3,000 /Mo
      1,400 SF

      North Providence Retail Office Space

      1400 SF retail/office space on major intersection with parking.
      1700 Mineral Spring Ave, North Providence, RI 02904
      View Details
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    1058 Charles St
    North Providence, RI 02904-4949
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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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