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

    312 Veazie St Providence, RI 02904

    • Investment properties
    • 4,040 SF
    • 0.19 lot acres
    For Sale
    View listing
    $879,900
    Last Sale
    Dec 20, 2023
    $235,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0417036
    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

    • Investment properties

    Property Details for 312 Veazie St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    4,040 SF
    Zone code
    R-3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:102 L:119
    APU
    PROVM102L119

    Description

    This exceptional mixed-use property at 312 Veazie Street in Providence, Rhode Island, presents a compelling investment opportunity. The 4,040 square foot building, constructed in 1920 and situated on an 8,276 square foot lot, offers a blend of commercial and residential spaces. The first floor, previously a pub, is ready for immediate occupancy and is suitable for retail, bar, or restaurant use; build-out plans are available. The upper two floors comprise two high-quality residential units. The second floor features a three-bedroom, one-bathroom unit with a walk-out deck, stainless steel appliances, and quartz countertops. The third floor offers a seven-bedroom, two-bathroom townhouse-style unit with similar high-end finishes. Both units are ideal for student or professional rentals. The property benefits from updated heating, electrical, and plumbing systems, including a hydro-air gas heating system. A detached three-car garage provides additional income potential or ample parking. Its prime location near Providence College and downtown Providence ensures high tenant demand. This versatile property, with its substantial square footage and multiple income streams, offers significant return potential for investors seeking a mixed-use or fully residential conversion. The asking price is $875,000. This is a truly unique opportunity in a thriving Rhode Island market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $300,000
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $435,000
      Market price range: $435k - $829k
      AI Estimate
      $280,000
      Market price range: $237k - $676k

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4354
    Latitude
    41.8535
    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
    $88,900
    $186,000
    $274,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $310,000
      2,679 SF

      428 Br Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,679 SF
      428 Br Ave, Providence, RI 02904-2524
      View Details
    • Value Estimation
      $440,000
      2,792 SF

      1105 Charles St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,792 SF
      1105 Charles St, North Providence, RI 02904-3538
      View Details
    • Value Estimation
      $430,000
      5,090 SF

      1169 Mineral Spg Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,090 SF
      1169 Mineral Spg Ave, North Providence, RI 02904-4102
      View Details
    • Value Estimation
      $375,000
      1,530 SF

      1868 Mineral Spg Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,530 SF
      1868 Mineral Spg Ave, North Providence, RI 02904-3730
      View Details
    • Value Estimation
      $835,000
      7,176 SF

      191 Nashua St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,176 SF
      191 Nashua St, Providence, RI 02904-1871
      View Details
    • Value Estimation
      $435,000
      4,546 SF

      248 Hawkins St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,546 SF
      248 Hawkins St, Providence, RI 02904
      View Details

    Similar Nearby for Sale

    • New
      $499,000
      0.07 Acres

      Mixed-Use Property in Convenient Location

      Three-unit mixed-use property with conversion potential in a prime location.
      559 Branch Ave, Providence, RI 02904
      View Details
    • $1,600,000
      15,848 SF

      Prime RI Mixed-Use Investment

      Three-building complex, high-traffic area.
      0 1158, North Providence, RI 02904
      View Details
    • $875,000
      4,040 SF

      Providence Mixed-Use Investment

      Prime location, high-return potential.
      312 Veazie St, Providence, RI 02904
      View Details
    • $499,000
      0.07 Acres

      Providence Mixed-Use Property For Sale

      Three-unit property near highways, shopping, and bus line in Providence.
      559 Branch Ave, Providence, RI 02904
      View Details
    • $3,200,000
      21,304 SF

      Prime RI Mixed-Use Investment

      High-Yield Residential & Commercial
      0 1158, North Providence, RI 02904
      View Details
    • $879,900
      0.19 Acres

      Mixed-Use Property Near Providence College

      Tastefully renovated mixed-use property with commercial space and residential units.
      312 Veazie St, Providence, RI 02904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,288 SF

      Mixed-Use Property For Lease

      Mixed-use property with development opportunity at signaled intersection.
      1127 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • Contact for pricing
      29,765 SF

      Douglas Crossing Retail Center

      High-Visibility Retail Space Available
      1650 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • Contact for pricing
      1,335 SF

      Retail Space in Douglas Crossings

      Highly visible shopping center with retail space available for lease.
      1650-1668 Mineral Spring Ave N, Providence, RI 02904
      View Details
    • Contact for pricing
      3,024 SF

      Renovated Commercial Space Available

      Versatile renovated space suitable for office, retail, or medical use.
      745 Branch Ave, Providence, RI 02904
      View Details
    • Contact for pricing
      815 SF

      Historic Commercial Building For Rent

      24,600 SF renovated 3-story commercial building near Moshassuck River.
      2 Charles St, Providence, RI 02904
      View Details
    • $3,000 /Mo
      1,400 SF

      North Providence Retail Office Space

      1400 SF retail/office space on major intersection with parking.
      1700 Mineral Spring Ave, North Providence, RI 02904
      View Details
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    312 Veazie St
    Providence, RI 02904
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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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