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

    180 Friendship St Providence, RI 02903

    • Commercial real estate
    • 5,820 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0273483
    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

    • Chestnut Commons / Apartment Building
    • ChargePoint Charging Station / Electric Vehicle Charging Station

    Property Details for 180 Friendship St

    Property size
    5,820 SF
    Property type
    Commercial real estate

    Description

    This exceptional retail property at 180 Friendship Street in Providence, Rhode Island, offers a total of 5,820 square feet of commercial space currently available for lease. The property is ideally suited for multiple tenants, with flexible space options ranging from a minimum of 1,948 square feet to a maximum contiguous space of 3,872 square feet. The entire 5,820 square feet is currently vacant, presenting a unique opportunity for a single large tenant or multiple smaller businesses seeking a vibrant location in Providence. Located in Providence County, with a convenient address at 180 Friendship Street, zip code 02903, this property boasts excellent visibility and accessibility. The building's layout is adaptable to a variety of retail uses, making it an attractive option for businesses seeking a flexible and well-located space. This is a rare opportunity to secure a significant retail presence in a thriving Rhode Island market. The property's size and layout offer considerable potential for customization to meet the specific needs of prospective tenants. Interested parties are encouraged to inquire for further details and leasing information. The property is situated at 41.8186608 latitude and -71.4121868 longitude.

    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
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4121868
    Latitude
    41.8186608

    Comparable in this City

    • $34 SF/Yr
      422 SF

      Historic Arcade Retail Space

      Downtown Providence Office Suite, 411 sq ft
      130 Westminster St, Providence, RI 02903
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      4,243 SF

      Retail Space Available For Rent

      Retail space available for rent, 4243 square feet.
      210 Dyer St, Providence, RI 02903
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      Downtown Providence Land For Lease

      Land for lease in downtown Providence near amenities.
      100 Pine St, Providence, RI 02903
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    • $348 /Mo
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      Federal Hill Office Space Available

      Prime Providence Office, 1200 SF Available
      108 Spruce St, Providence, RI 02903
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    • $25 SF/Yr
      10,004 SF

      Prime Providence Medical Office Space

      10,004 SF Medical Office in RI
      68 Kennedy Plz, Providence, RI 02903
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      2,450 SF

      Downtown Retail Space Near University

      Retail space in a high-visibility downtown location.
      141 Weybosset St, Providence, RI 02903
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    Similar Nearby for Sale

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      0.16 Acres

      Providence Commercial Space For Sale

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      Turnkey Restaurant in Federal Hill

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    • $995,000
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      Mixed-Use Building on Atwells Avenue

      Three-story mixed-use building with retail and apartments for sale.
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    Similar Nearby for Lease

    • $34 SF/Yr
      422 SF

      Historic Arcade Retail Space

      Downtown Providence Office Suite, 411 sq ft
      130 Westminster St, Providence, RI 02903
      View Details
    • Contact for pricing
      4,243 SF

      Retail Space Available For Rent

      Retail space available for rent, 4243 square feet.
      210 Dyer St, Providence, RI 02903
      View Details
    • Contact for pricing

      Downtown Providence Land For Lease

      Land for lease in downtown Providence near amenities.
      100 Pine St, Providence, RI 02903
      View Details
    • $348 /Mo
      3,600 SF

      Federal Hill Office Space Available

      Prime Providence Office, 1200 SF Available
      108 Spruce St, Providence, RI 02903
      View Details
    • $25 SF/Yr
      10,004 SF

      Prime Providence Medical Office Space

      10,004 SF Medical Office in RI
      68 Kennedy Plz, Providence, RI 02903
      View Details
    • Contact for pricing
      2,450 SF

      Downtown Retail Space Near University

      Retail space in a high-visibility downtown location.
      141 Weybosset St, Providence, RI 02903
      View Details
    Request Owner's contact information
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    180 Friendship St
    Providence, RI 02903
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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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