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

    235 Georgia Ave Providence, RI 02905-4516

    • Industrial properties
    • 28,858 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimations
    $975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0139159
    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

    • Cranial Technologies / Orthotics & Prosthetics Service
    • RI Education Collective / Non-Profit Organization

    Property Details for 235 Georgia Ave

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.97 lot acres
    Property size
    28,858 SF
    Zone code
    M-1
    Property type
    Industrial properties
    APN
    PROV M:58 L:560
    APU
    PROVM58L560

    Description

    This exceptional executive office space at 235 Georgia Avenue in Providence, Rhode Island, offers 10,500 square feet of newly renovated, modern office space. Built in 2024, the entire 34,000 square foot building has been completely refinished to the highest standards. The space is divisible, with a minimum leasable area of 4,000 square feet and a maximum contiguous space of 10,500 square feet. Ample parking is available on-site for tenants and their guests. The building is situated in the highly sought-after ManuCenter area of Providence, a thriving hub for medical, laboratory, and technology companies. ManuCenter's strategic location provides convenient access to major roadways, including Route 95 North and South, ensuring easy commutes for employees and clients. The property's address is 235 Georgia Avenue, Providence, RI 02905, and is bordered by Carolina and Ernest Streets to the south and north, and Eddy Street and Allens Avenue to the west and east. This presents a unique opportunity to secure a prestigious office location in a dynamic and rapidly growing business district. The entire building is currently available as a single suite. This is a rare opportunity to lease a brand-new, modern office space in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,180,000
      Market price range: $985k - $2.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4021
    Latitude
    41.7915
    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
    2023
    $34,921
    $133,300
    $861,600
    $994,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $605,000
      3.81 Acres

      1139 Eddy St

      INDUSTRIAL (GENERAL) • 3.81 Acres
      1139 Eddy St, Providence, RI 02905-4509
      View Details
    • Value Estimation
      $910,000
      3,240 SF

      870 Eddy St

      INDUSTRIAL (GENERAL) • 3,240 SF
      870 Eddy St, Providence, RI 02905
      View Details
    • Value Estimation
      $715,000
      10.92 Acres

      1116 Eddy St

      INDUSTRIAL (GENERAL) • 10.92 Acres
      1116 Eddy St, Providence, RI 02905
      View Details
    • Value Estimation
      $985,000
      36,551 SF

      265 Allens Ave

      INDUSTRIAL (GENERAL) • 36,551 SF
      265 Allens Ave, Providence, RI 02905-5003
      View Details
    • Value Estimation
      $325,000
      4,500 SF

      190 Bay St

      INDUSTRIAL (GENERAL) • 4,500 SF
      190 Bay St, Providence, RI 02905
      View Details
    • Value Estimation
      $590,000
      10,570 SF

      1193 Broad St

      INDUSTRIAL (GENERAL) • 10,570 SF
      1193 Broad St, Providence, RI 02905-2910
      View Details

    Similar Nearby for Sale

    • $7,299,000

      Providence Industrial Portfolio: 5 Buildings

      Prime RI location, 130K+ SF, mixed-use potential.
      735 Allens Ave, Providence, RI 02905
      View Details
    • $1,200,000
      0.27 Acres

      Cranston Commercial Lot For Sale

      Highly visible commercial lot in Edgewood neighborhood with development opportunities.
      19 Warwick Ave, Providence, RI 02905
      View Details
    • $599,000

      Cranston Mixed-Use Investment

      Prime Cranston location, 3 units, $599,000
      189 Smith St Smith St, Cranston, RI 02905
      View Details
    • Contact for pricing

      Land for Sale Providence

      Land available at 909 Eddy St, Providence, RI.
      909 Eddy St, Providence, RI 02905
      View Details
    • $130,000
      0.07 Acres

      Corner Lot in Providence, RI

      Vacant corner lot available for sale in Providence, Rhode Island.
      462 Prairie Ave, Providence, RI 02905
      View Details
    • $739,900
      Pending

      New Construction Two-Family Home

      Modern design two-family home in Providence's Washington Park area.
      65 Babcock St, Providence, RI 02905
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      21,880 SF

      Providence Industrial Space For Lease

      Single-level manufacturing space; ideal location.
      12 Lehigh St, Providence, RI 02905
      View Details
    • $6 SF/Yr
      98,225 SF

      Cranston Industrial Space Available

      98,225 SF Manufacturing/Distribution Space
      180 Ml St, Cranston, RI 02905
      View Details
    • $15 SF/Yr
      14,822 SF

      Providence Manufacturing Space For Lease

      14,822 SF Manufacturing Building, RI
      253 Georgia Ave, Providence, RI 02905
      View Details
    • $15 SF/Yr
      16,991 SF

      Providence Industrial Building For Lease

      16,991± SF industrial building with convenient highway access.
      189 Georgia Ave, Providence, RI 02905
      View Details
    • $20 SF/Yr
      66,242 SF

      Providence Creative Office Space

      Prime location, renovated mill building, 7,708 SF available.
      134 Thurbers Ave, Providence, RI 02905
      View Details
    • Contact for pricing
      51,000 SF

      Eddy Street Commercial Space

      Located near hospitals, flexible floor plates, suitable for various uses.
      226 Public St, Providence, RI 02905
      View Details
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    235 Georgia Ave
    Providence, RI 02905-4516
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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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