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    1650 Mineral Spring Ave North Providence, RI 02904
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    Property profile & analytics

    1650 Mineral Spring Ave North Providence, RI 02904

    View on Map
    • Showrooms
    • 18,906 SF
    • 1.19 lot acres
    For Lease
    $2,230,000
    View Listing →
    Retail Space in Douglas Crossings For Lease
    $2,230,000
    29,000 SF

    Retail Space in Douglas Crossings

    Highly visible shopping center at a heavily traveled intersection.

    1650 Mineral Spring Ave, North Providence, RI 2904
    View Listing
    Property ID
    US76-0172551
    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

    • Showrooms

    Property Details for 1650 Mineral Spring Ave

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.19 lot acres
    Property size
    18,906 SF
    Zone code
    CG
    Property type
    Showrooms
    APN
    NPRO M:24 L:648
    APU
    NPROM24L648

    Description

    Douglas Crossing offers exceptional retail space in a thriving Providence County location. This 29,765 square foot shopping center boasts high visibility at the heavily trafficked intersection of Route 15 (Mineral Spring Avenue) and Route 7 (Douglas Avenue), ensuring maximum exposure for your business. Currently, there are four available spaces ranging from a minimum of 665 square feet to a maximum contiguous space of 1,828 square feet, providing flexibility for various retail concepts. A total of 5,320 square feet is currently vacant and ready for immediate occupancy. The center offers ample parking with 110 spaces available for customers and employees. This prime retail location presents a unique opportunity to establish or expand your business in a high-traffic area with strong visibility and convenient access. The multiple tenancy structure provides a diverse shopping environment, attracting a wide range of customers. The property's strategic location at a major intersection guarantees significant foot traffic and drive-by visibility, making it an ideal location for businesses seeking high customer interaction. With its convenient access and ample parking, Douglas Crossing provides a seamless shopping experience for customers. Don't miss this chance to secure your space in this bustling retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,379,000
      Market price range: $2.04M - $3.88M
      AI Estimate
      $1,911,000
      Market price range: $1.11M - $3.16M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,740,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.452
    Latitude
    41.8632
    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
    $43,686
    $493,100
    $1,377,800
    $1,870,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      19,760 SF

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    • Value Estimation
      $535,000
      2,940 SF

      1132 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 2,940 SF
      1132 Mineral Spg Ave, North Providence, RI 02904-4104
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    • Value Estimation
      $515,000
      2,834 SF

      458 Smithfield Ave

      SHOW ROOM, WAREHOUSE • 2,834 SF
      458 Smithfield Ave, Providence, RI 02904-1547
      View Details
    • Value Estimation
      $560,000
      2,850 SF

      1617 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 2,850 SF
      1617 Mineral Spg Ave, North Providence, RI 02904-4029
      View Details
    • Value Estimation
      $1,335,000
      9,901 SF

      1488 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 9,901 SF
      1488 Mineral Spg Ave, North Providence, RI 02904-3129
      View Details
    • Value Estimation
      $635,000
      3,240 SF

      1930 Mineral Spg Ave

      SHOW ROOM, WAREHOUSE • 3,240 SF
      1930 Mineral Spg Ave, Providence, RI 02904
      View Details

    Similar Nearby for Sale

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      Mixed-Use Property with Storefront Potential

      Investment opportunity with storefront, residential units, and garage.
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      North Providence Commercial Space Available

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      1,000 SF

      North Providence Commercial Space Available

      High-traffic location suitable for retail, offices, and service providers.
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    Similar Nearby for Lease

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      3,000 SF

      Modern Showroom/Office Space Available

      3,000 SF showroom/office space with modern interiors and ample parking.
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      View Details
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      8,000 SF

      Mineral Spring Avenue Retail Opportunity

      Retail/Restaurant space with drive-thru option available on Mineral Spring Avenue.
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      View Details
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      3,000 SF

      Retail Space in High-Volume Location

      Retail space available in a high-volume urban location.
      19-29 Smithfield Rd N, Providence, RI 02904
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      2,400 SF

      Drive-Thru Ready Retail Opportunity

      Ground lease opportunity with drive-thru potential in high-traffic area.
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      Mixed-Use Property For Lease

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      View Details
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    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.

    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.

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