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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1305 Mineral Spg Ave Providence, RI 02904

    • Showrooms
    • 15,126 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $1,615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0189565
    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

    • Contract Draperies Manufacturing Co / Store / Upholstery Shop

    Property Details for 1305 Mineral Spg Ave

    Year built
    1972
    Construction
    STEEL FRAME
    Lot size
    0.49 lot acres
    Property size
    15,126 SF
    Zone code
    CG
    Property type
    Showrooms
    APN
    NPRO M:23B L:772
    APU
    NPROM23BL772

    Description

    This exceptional commercial property, located at 1305 Mineral Spring Avenue in North Providence, Rhode Island, presents a unique investment opportunity. The property boasts a total of 15,726 square feet of space, distributed across a main level of 7,347 square feet and an upper level of 7,149 square feet. Situated on a sizable 21,257 square foot lot (nearly half an acre), this building offers ample parking. Built in 1972, the structure features an attractive Dryvit exterior. Its prime location in North Providence's premier business district provides easy access to Rhode Island Route 146 (north and south), and is just minutes from Routes 95 and 295. The property's versatility allows for a variety of uses, including retail, medical, or office space, making it an ideal choice for entrepreneurs and investors. The current owner has occupied the building for over 40 years, attesting to its desirability and stability. The property's Assessed Property Number (APN) is 13031305MINERALSPRINGAVNPRO. This is a multi-tenant building with one unit. The asking price is $1,300,000. This business-friendly town offers a supportive environment for commercial ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,629,000
      Market price range: $1.63M - $3.10M
      AI Estimate
      $1,057,000
      Market price range: $887k - $2.53M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,195,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4373
    Latitude
    41.8679
    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
    $24,163
    $234,100
    $800,700
    $1,034,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,895,000
      22,592 SF

      951 Main St

      SHOW ROOM, WAREHOUSE • 22,592 SF
      951 Main St, Providence, RI 02904-5759
      View Details
    • Value Estimation
      $5,385,000
      48,960 SF

      530 Main St

      SHOW ROOM, WAREHOUSE • 48,960 SF
      530 Main St, Providence, RI 02904-5762
      View Details
    • Value Estimation
      $8,240,000
      47,980 SF

      181 Corliss St

      SHOW ROOM, WAREHOUSE • 47,980 SF
      181 Corliss St, Providence, RI 02904-2603
      View Details
    • Value Estimation
      $4,015,000
      36,849 SF

      201 Br Ave

      SHOW ROOM, WAREHOUSE • 36,849 SF
      201 Br Ave, Providence, RI 02904-2739
      View Details
    • Value Estimation
      $16,260,000
      133,947 SF

      9 Silver Spg St

      SHOW ROOM, WAREHOUSE • 133,947 SF
      9 Silver Spg St, Providence, RI 02904
      View Details
    • Value Estimation
      $7,350,000
      37,381 SF

      45 Orms St

      SHOW ROOM, WAREHOUSE • 37,381 SF
      45 Orms St, Providence, RI 02904
      View Details

    Similar Nearby for Sale

    • $1,749,000
      4,878 SF

      Prime RI Retail Center

      High-traffic corner lot, 4,878 SF
      1385 Mineral Spring Ave, North Providence, RI 02904
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    • $1,299,000
      3,965 SF

      1778 Mineral Spring Avenue

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    • $499,000

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    • $1,399,000
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      1543 Mineral Spring Avenue

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    • $150,000

      Mello Building: Prime Providence Location

      Thriving Restaurant & Real Estate
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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

    • $16 SF/Yr
      3,000 SF

      Modern Showroom/Office Space Available

      3,000 SF showroom/office space with modern interiors and ample parking.
      1401 Douglas Ave, North Providence, RI 02904
      View Details
    • Contact for pricing
      3,024 SF

      Renovated Commercial Space Available

      Versatile renovated space suitable for office, retail, or medical use.
      745 Branch Ave, Providence, RI 02904
      View Details
    • $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
    • 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
      View Details
    • Contact for pricing
      2,400 SF

      Drive-Thru Ready Retail Opportunity

      Ground lease opportunity with drive-thru potential in high-traffic area.
      3 Malcolm St, North Providence, RI 02904
      View Details
    • Contact for pricing
      1,288 SF

      Mixed-Use Property For Lease

      Mixed-use property with development opportunity at signaled intersection.
      1127 Mineral Spring Ave, North Providence, RI 02904
      View Details
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    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.

    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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