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    Property profile & analytics

    243 Main St Providence, RI 02903-1237

    • Investment properties
    • 4,585 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0408964
    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

    • Kirby Richard / Law Firm
    • Double Tap Academy / High School
    • OptiTech, OptiPay, & OptiVoice / Business To Business Service
    • Pereira Family Realty / Real Estate Agency
    • Susan M Grant Attorney / Law Firm

    Property Details for 243 Main St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    4,585 SF
    Zone code
    R-P
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:10 L:642
    APU
    PROVM10L642

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,080,000
      6.5%
      $1,000,000
      7%
      $925,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $508,000
      Market price range: $211k - $652k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $975,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.41
    Latitude
    41.8307
    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
    $0.00
    $416,400
    $298,200
    $714,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $755,000
      4,338 SF

      156 Wickenden St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,338 SF
      156 Wickenden St, Providence, RI 02903-4329
      View Details
    • Value Estimation
      $760,000
      3,936 SF

      3 Williams St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,936 SF
      3 Williams St, Providence, RI 02903
      View Details
    • Value Estimation
      $920,000
      5,390 SF

      149 Atwells Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,390 SF
      149 Atwells Ave, Providence, RI 02903
      View Details
    • Value Estimation
      $1,150,000
      6,742 SF

      366 Atwells Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,742 SF
      366 Atwells Ave, Providence, RI 02903
      View Details
    • Value Estimation
      $675,000
      3,108 SF

      222 Chestnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,108 SF
      222 Chestnut St, Providence, RI 02903-4725
      View Details
    • Value Estimation
      $1,045,000
      6,000 SF

      719 Westminster St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,000 SF
      719 Westminster St, Providence, RI 02903-4016
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,278 SF

      Renovated Retail Space in Historic Arcade

      Turn-key retail space in downtown Providence's historic Arcade.
      65 Weybosset St, Providence, RI 02903
      View Details
    • $850,000
      2,768 SF

      Prime Providence Mixed-Use Building

      Historic building, high potential, 100% occupied.
      14 Imperial Pl, Providence, RI 02903
      View Details
    • $6,850,000
      0.18 Acres

      Benefit Street Mixed-Use Investment

      Income-producing mixed-use building near Brown University and RISD.
      161 Benefit St, Providence, RI 02903
      View Details
    • Contact for pricing
      5,735 SF

      374 Wickenden St, Providence, RI 02903

      Mixed-use properties • 5,735 SF
      374 Wickenden St, Providence, RI 02903
      View Details
    • Contact for pricing
      7,433 SF

      Mixed-Use Building on Atwells Avenue

      Three-story mixed-use building with retail and apartments for sale.
      219-223 Atwells Ave, Providence, RI 02903
      View Details
    • $1,650,000
      0.06 Acres

      Mixed-Use Building in Prime Location

      Fully rented mixed-use building with long-term tenants and recent renovations.
      374 Wickenden St, Providence, RI 02903
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Office Space on Westminster Street

      Office space available for rent in Providence, Rhode Island.
      180 Westminster St, Providence, RI 02903
      View Details
    • Contact for pricing

      Renovated Office Condo For Rent

      Renovated 3,244 SF office condo in Providence's Jewelry District.
      18 Imperial Pl, Providence, RI 02903
      View Details
    • Contact for pricing

      Flexible Office Space in Providence

      High-quality, flexible office space with global access.
      225 Dyer St, Providence, RI 02903
      View Details
    • Contact for pricing

      Prime Location in Central Business

      Located in the heart of the Central Business District.
      72 Pine St, Providence, RI 02903
      View Details
    • Contact for pricing

      Office & Retail Space Available

      Office and retail building for lease in Providence, RI.
      3 Davol Sqauare, Providence, RI 02903
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Providence, Rhode Island.
      130 Westminster St, Providence, RI 02903
      View Details
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    243 Main St
    Providence, RI 02903-1237
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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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