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    Property profile & analytics

    265 Waterman St Providence, RI 02906-5127

    • Investment properties
    • 4,469 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0273591
    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

    • Robert D'Andrea | Fairway Independent Mortgage Corporation Loan Officer / Loan Service / Bank
    • Benzer Pharmacy / Pharmacy
    • V-Care Pharmacy of RI / Pharmacy
    • Jack Belles- Reverse Mortgage / Loan Service / Bank
    • Andy Matt | Fairway Independent Mortgage Corporation Branch Manager / Bank / Credit Union

    Property Details for 265 Waterman St

    Year built
    1890
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    4,469 SF
    Zone code
    R-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:15 L:494
    APU
    PROVM15L494

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,055,000
      6.5%
      $975,000
      7%
      $905,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $653,000
      Market price range: $312k - $835k

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3854
    Latitude
    41.8279
    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
    $508,500
    $442,600
    $951,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,290,000
      5,570 SF

      223 Thayer St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,570 SF
      223 Thayer St, Providence, RI 02906-1237
      View Details
    • Value Estimation by Request
      2,322 SF

      270 Gano St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,322 SF
      270 Gano St, Providence, RI 02906-4028
      View Details
    • Value Estimation
      $1,435,000
      7,940 SF

      108 Waterman St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,940 SF
      108 Waterman St, Providence, RI 02906-1150
      View Details
    • Value Estimation by Request
      0.11 Acres

      181 5th St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.11 Acres
      181 5th St, Providence, RI 02906-3764
      View Details
    • Value Estimation
      $695,000
      3,243 SF

      394 Angell St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,243 SF
      394 Angell St, Providence, RI 02906-4075
      View Details
    • Value Estimation
      $790,000
      4,254 SF

      311 Angell St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,254 SF
      311 Angell St, Providence, RI 02906-3204
      View Details

    Similar Nearby for Sale

    • New
      $1,029,000
      0.13 Acres

      Turnkey Income Producing Multi-Family

      Well-maintained multi-family property with strong income potential.
      56 Ivy St, Providence, RI 02906
      View Details
    • New
      $2,575,000
      0.11 Acres

      Mixed-Use Investment Opportunity

      Commercial and residential units in a high-traffic location.
      771 Hope St, Providence, RI 02906
      View Details
    • New
      $2,150,000
      0.11 Acres

      East Side Income Opportunity

      Two commercial units and five residential units in Providence.
      756 Hope St, Providence, RI 02906
      View Details
    • $2,575,000
      4 SF

      Mixed-Use Property in Hope Village

      Commercial and residential opportunity in a high-traffic location.
      771 Hope St, Providence, RI 02906
      View Details
    • $2,150,000
      6,960 SF

      Hope Village Income Opportunity

      Two commercial units and five residential units in prime location.
      756 Hope St, Providence, RI 02906
      View Details
    • $1,065,000
      Pending

      Fox Point Three-Unit Property

      Three-unit property in desirable Fox Point neighborhood.
      20 Governor St, Providence, RI 02906
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      East Side Retail Space Available

      Retail space with high traffic and window frontage.
      725-731 Hope St, Providence, RI 02906
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space in Providence

      Retail property available for rent in Providence, Rhode Island.
      118-120 Waterman St, Providence, RI 02906
      View Details
    • $1,900 /Mo

      Wayland Square Lower Level Unit

      Lower level unit in Wayland Square for retail or office.
      18 South Angell St, Providence, RI 02906
      View Details
    • $700 /Mo
      240 SF

      Wayland Square Therapy Office Sublease

      First-floor office sublease in Wayland Square, available March 1.
      245 Waterman St, Providence, RI 02906
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space on Wayland Avenue

      Retail space available in Providence, RI with established neighboring tenants.
      195-209 Wayland Ave, Providence, RI 02906
      View Details
    • $25 SF/Yr

      East Side Office Space Available

      Office space for rent in a walkable, vibrant neighborhood.
      155 Elmgrove Ave, Providence, RI 02906
      View Details
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    265 Waterman St
    Providence, RI 02906-5127
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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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