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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Showrooms
1759 Mineral Spg Ave, North Providence, RI 02904-3900
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US76-0159465
Property summary
AI-generated overview
This exceptional 1,425 square foot commercial space, located at 1759 Mineral Spring Ave in North Providence, Rhode Island (zip code 02904), presents a unique leasing opportunity. Situated in a single-tenant building within a larger 64,400 square foot complex, this property offers high visibility on a busy thoroughfare with over 13,000 vehicles passing daily. The building, constructed in 1974 and renovated in 2003, is a two-story Class C structure. This particular unit is a double storefront, previously used as a dance studio, offering adaptable space for a variety of professional uses. The space is available for lease beginning September 1st, 2024. The lease is not a triple net lease
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1974
Construction
FRAME
Total area
6,440 SF
Lot
0.34 ac (14,941 SF)
Zoning code
CG
APN
NPRO M:22A L:626
UPID
US76-0159465
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$826k
Blend (final)
Blend
$750k
Owner & transaction history
Kobe 28 LLC · 2 yrs held
Kobe 28 LLC
since 2023
3 recorded transactions
Zoning & alternative use
CG · North Providence, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+32.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs North Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Providence submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$935,000
Current use
OFFICE BUILDING
$1,235,000
Change: +32% · Conversion: Easy
Blend value · Realmo final
$750k
Range $675k – $825k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$116 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$15,170
Tax year 2024
Assessed value
$649,700
Assessed 2024
Previous assessed
$649,700
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$201,000
Assessed improvement
$448,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1974
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
7
Bathrooms
8
Total area
6,440 SF
Lot
0.34 ac (14,941 SF)
Zoning code
CG
APN
NPRO M:22A L:626
UPID
US76-0159465
Jurisdiction
NORTH PROVIDENCE
Zoning & alternative use
CG · North Providence, RI
Zoning CG · permitted uses
CG · North Providence, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Providence. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$935,000
OFFICE BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
7
Bathrooms
8
Lot
0.34 ac
Current owner
From public records · entity-resolved
Kobe 28 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
262 E SHR DR, COVENTRY, RI 02816-6196
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2023
—
Kobe 28 LLC
Albert A Schiavone
Warranty Deed
—
Aug 4, 2022
$1,008,750
Albert A Schiavone
Sithens Ri Properties LLC
Warranty Deed
$746,250 · Banknewport
Dec 6, 2018
$570,000
Sithens Ri Props LLC
Difante,giulio & Jeanie
Warranty Deed
$427,500 · Pawtucket Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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