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

    248 Toronto Ave Providence, RI 02905-4522

    • Industrial properties
    • 5,684 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0125125
    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

    • Custom Metal Fabricating Inc. / Welder
    • Columbus Mold Co / Plastic Fabrication Company

    Property Details for 248 Toronto Ave

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    5,684 SF
    Zone code
    M-1
    Property type
    Industrial properties
    APN
    PROV M:58 L:804
    APU
    PROVM58L804

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $491,000
      Market price range: $326k - $872k
      AI Estimate
      $294,000
      Market price range: $194k - $538k

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4025
    Latitude
    41.7916
    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
    $8,719
    $71,700
    $176,700
    $248,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $625,000
      3.08 Acres

      130 Ernest St

      INDUSTRIAL (GENERAL) • 3.08 Acres
      130 Ernest St, Providence, RI 02905-4602
      View Details
    • Value Estimation
      $745,000
      13,564 SF

      640 Allens Ave

      INDUSTRIAL (GENERAL) • 13,564 SF
      640 Allens Ave, Providence, RI 02905
      View Details
    • Value Estimation
      $650,000
      8,412 SF

      15 Shipyard St

      INDUSTRIAL (GENERAL) • 8,412 SF
      15 Shipyard St, Providence, RI 02905-5441
      View Details
    • Value Estimation
      $895,000
      6,294 SF

      880 Eddy St

      INDUSTRIAL (GENERAL) • 6,294 SF
      880 Eddy St, Providence, RI 02905-4728
      View Details
    • Value Estimation
      $635,000
      5,312 SF

      1200 Broad St

      INDUSTRIAL (GENERAL) • 5,312 SF
      1200 Broad St, Providence, RI 02905-2908
      View Details
    • Value Estimation
      $830,000
      8,307 SF

      68 Oxford St

      INDUSTRIAL (GENERAL) • 8,307 SF
      68 Oxford St, Providence, RI 02905
      View Details

    Similar Nearby for Sale

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      Providence Industrial Portfolio: 5 Buildings

      Prime RI location, 130K+ SF, mixed-use potential.
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      Cranston Mixed-Use Investment

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    • 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
    • New
      $589,000
      0.10 Acres

      Well-Maintained Cranston Two-Family Home

      Two-family home in Cranston, ideal for owner-occupants or investors.
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    Similar Nearby for Lease

    • $6 SF/Yr
      98,225 SF

      Cranston Industrial Space Available

      98,225 SF Manufacturing/Distribution Space
      180 Ml St, Cranston, RI 02905
      View Details
    • $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
    • $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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    248 Toronto Ave
    Providence, RI 02905-4522
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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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