Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    137 Chester Ave Providence, RI 02907
    Back to Search
    Property profile & analytics

    137 Chester Ave Providence, RI 02907

    View on Map
    • Commercial real estate
    • 3,663 SF
    • 0.08 lot acres
    Off-Market
    Property ID
    US76-0389336
    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

    • Commercial real estate

    Property Details for 137 Chester Ave

    Lot size
    0.08 lot acres
    Property size
    3,663 SF
    Property type
    Commercial real estate

    Description

    This 3,663 square foot mixed-use property is located at 137 Chester Avenue in Providence, Rhode Island, 02907. Situated on a 0.08-acre lot, this property presents a significant opportunity for investors seeking a rehabilitation project. The building's mixed-use designation allows for diverse potential uses, adaptable to residential or commercial needs. The asking price is $400,000. Buyers who qualify may be eligible for a $4,000 closing cost credit or a zero-down payment financing option with a 6.16% APR and a monthly payment of $2,440 (rates as of October 2024

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    44007
    State
    Rhode Island
    Longitude
    -71.4191058
    Latitude
    41.8067787

    Comparable in this City

    • $529,000
      2,570 SF

      Elmwood Multi-Family Investment Opportunity

      Mixed-use property in prime location with high traffic count.
      217 Elmwood Ave, Providence, RI 02907
      View Details
    • $260,000

      Vacant M-1 Zoned Development Parcel

      Prime development parcel in commercial/industrial corridor, suitable for various projects.
      129 Alger Ave, Providence, RI 02907
      View Details
    • $699,900

      West End Mixed-Use Opportunity

      Three-family home with commercial potential in a prime location.
      654 Cranston St, Providence, RI 02907
      View Details
    • $699,900
      3,357 SF

      West End Mixed-Use Opportunity

      Three-family home with commercial conversion potential in West End.
      654 Cranston St, Providence, RI 02907
      View Details
    • $529,000

      Elmwood Mixed-Use Investment Opportunity

      Mixed-use property in prime location with high visibility.
      217 Elmwood Ave, Providence, RI 02907
      View Details
    • $260,000

      Vacant M-1 Zoned Development Parcel

      Vacant M-1 zoned land for development in Providence, RI.
      99 Dixon St, Providence, RI 02907
      View Details

    Similar Nearby for Sale

    • $260,000

      Vacant M-1 Zoned Development Parcel

      Prime development parcel in commercial/industrial corridor, suitable for various projects.
      129 Alger Ave, Providence, RI 02907
      View Details
    • $699,900

      West End Mixed-Use Opportunity

      Three-family home with commercial potential in a prime location.
      654 Cranston St, Providence, RI 02907
      View Details
    • $529,000
      2,570 SF

      Elmwood Multi-Family Investment Opportunity

      Mixed-use property in prime location with high traffic count.
      217 Elmwood Ave, Providence, RI 02907
      View Details
    • $699,900
      3,357 SF

      West End Mixed-Use Opportunity

      Three-family home with commercial conversion potential in West End.
      654 Cranston St, Providence, RI 02907
      View Details
    • $529,000

      Elmwood Mixed-Use Investment Opportunity

      Mixed-use property in prime location with high visibility.
      217 Elmwood Ave, Providence, RI 02907
      View Details
    • New
      $649,000
      2,835 SF

      Providence Multifamily Investment Opportunity

      Well-maintained 6-bedroom multifamily, ideal for investors or owner-occupants.
      31 Gilmore St, Providence, RI 02907
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo

      Versatile Commercial Condo in Providence

      Commercial condo in high-traffic location, suitable for various businesses.
      512 Pine St, Providence, RI 02907
      View Details
    • $2,200 /Mo

      Potters Avenue Commercial Space Available

      Commercial space with high visibility, suitable for various businesses.
      790 Potters Ave, Providence, RI 02907
      View Details
    • Contact for pricing

      Cranston Flex Building For Sale

      Fully occupied flex building with loading docks and ample parking.
      215 Niantic Ave, Providence, RI 02907
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space with Strong Parking

      Retail space with excellent visibility, access, and uniquely strong parking.
      361 Reservoir Ave, Providence, RI 02907
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Providence, Rhode Island.
      361 Reservoir Ave, Providence, RI 02907
      View Details
    • Contact for pricing
      16,100 SF

      Industrial Space with Air Conditioning

      38,000 SF industrial space with ample office and heavy power.
      150 Niantic Ave, Providence, RI 02907
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    137 Chester Ave
    Providence, RI 02907
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    137 Chester Ave, Providence, RI, 02907
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!