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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Industrial properties
220 Broad St Providence, RI 02903-4029
Entity Owned
4-yr Hold
Free & Clear
Property ID
US76-0403294
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,252 SF
Lot
0.29 ac (12,421 SF)
Zoning code
C-2
APN
PROV M:24 L:35
UPID
US76-0403294
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
$975k
CAP Approach
CAP
$950k
Comparable Approach
Comparable
$776k
Blend (final)
Blend
$910k
Owner & transaction history
Marathon Development LLC · 4 yrs held
Marathon Development LLC
since 2022
Last sale
$870,000
4 recorded transactions
Zoning & alternative use
C-2 · Providence, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+108.1%
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 Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$1,005,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$1,030,000
6.5%
$950,000
7%
$885,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$640,000
Current use
COMMERCIAL (GENERAL)
$1,330,000
Change: +108% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $870k (Jun 9 2022)
Last sale anchor
$870k
Jun 9 2022
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
$146 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$15,707
Tax year 2023
Assessed value
$447,500
Assessed 2023
Previous assessed
$417,400
+7.2% YoY
Effective rate
3.51%
On assessed value
Assessed land
$144,600
Assessed improvement
$302,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Total area
6,252 SF
Lot
0.29 ac (12,421 SF)
Zoning code
C-2
APN
PROV M:24 L:35
UPID
US76-0403294
Jurisdiction
PROVIDENCE
Zoning & alternative use
C-2 · Providence, RI
Zoning C-2 · permitted uses
C-2 · Providence, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Providence. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Lot
0.29 ac
Current owner
From public records · entity-resolved
Marathon Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
220 BROAD ST4RB, PROVIDENCE, RI 02903-4029
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2022
$870,000
Marathon Development LLC
Ri Hsng&mtg Fin Corp
Deed
—
Jun 9, 2022
$700,000
Marathon Construction INC
Dream Homes Realty INC
Warranty Deed
—
Jun 30, 2021
$406,000
Dream Homes Realty INC
Richard Esposito
Foreclosure
related
$250,000 · Frank T Caprio
May 23, 2008
$400,000
Sami Al-muhtaseb
Esposito,richard A
Warranty Deed
$400,000 · Ricahrd Esposito
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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