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Property profile & analytics
FOR LEASE
Showrooms
245 Waterman St 201 Providence, RI 02906
Entity Owned
23-yr Hold
Free & Clear
Property ID
US76-0236222
For Lease
$700/Mo
245 Waterman St,Unit 201, Providence, RI 02906
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
40,040 SF
Lot
0.83 ac (36,080 SF)
Zoning code
C-2
APN
PROV M:15 L:491
UPID
US76-0236222
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
Current use
Occupant on record · Public records
-
Law Offices Of Fred T. Polacek Law Firm
-
Sarah Francazio Physician Medical Clinic
-
Armenian Historical Association of Rhode Island Historical Society
-
Lori Meyerson Ph.D. Physician Medical Clinic
-
Jena Schmidt, LMHC Marriage Or Relationship Counselor Life Coach
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.28M
Owner & transaction history
BLISS BUILLDING ASSOC
BLISS BUILLDING ASSOC
Zoning & alternative use
C-2 · Providence, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$132 / 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
$92,941
Tax year 2023
Assessed value
$2,647,900
Assessed 2023
Previous assessed
$2,647,900
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$872,800
Assessed improvement
$1,775,100
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
For Lease
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
10
Bathrooms
10
Total area
40,040 SF
Lot
0.83 ac (36,080 SF)
Zoning code
C-2
APN
PROV M:15 L:491
UPID
US76-0236222
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.
Building & site characteristics
From public records
Year built
1961
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
10
Bathrooms
10
Lot
0.83 ac
Current owner
From public records · entity-resolved
BLISS BUILLDING ASSOC
Individual
Free & Clear · 0 yrs held
Mailing address
245 WATERMAN ST, PROVIDENCE, RI 02906-5215
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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