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

    359 Atwells Ave Providence, RI 02903

    • Investment properties
    • 9,853 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $1,375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0205390
    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 359 Atwells Ave

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.31 lot acres
    Property size
    9,853 SF
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:28 L:477
    APU
    PROVM28L477

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $885,000
      Market price range: $453k - $1.40M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,100,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4295
    Latitude
    41.8241
    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
    $638,600
    $606,100
    $1,244,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,720,000
      12,283 SF

      300 Atwells Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 12,283 SF
      300 Atwells Ave, Providence, RI 02903
      View Details
    • Value Estimation
      $1,895,000
      10,825 SF

      212 Atwells Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 10,825 SF
      212 Atwells Ave, Providence, RI 02903
      View Details
    • Value Estimation
      $1,015,000
      6,725 SF

      440 Wickenden St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,725 SF
      440 Wickenden St, Providence, RI 02903-4428
      View Details
    • Value Estimation by Request
      3,284 SF

      227 Broadway

      OFFICE/RESIDENTIAL (MIXED USE) • 3,284 SF
      227 Broadway, Providence, RI 02903-3055
      View Details
    • Value Estimation
      $1,155,000
      7,119 SF

      382 Wickenden St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,119 SF
      382 Wickenden St, Providence, RI 02903
      View Details
    • Value Estimation
      $975,000
      7,026 SF

      464 Wickenden St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,026 SF
      464 Wickenden St, Providence, RI 02903-7404
      View Details

    Similar Nearby for Sale

    • $979,900
      0.10 Acres

      Mixed-Use Multifamily Property in Providence

      Multifamily property with storefront in Providence's Armory/Broadway neighborhood.
      498 Washington St, Providence, RI 02903
      View Details
    • $850,000

      Providence Mixed-Use Investment Opportunity

      7,114 sq ft lot, office/residential potential
      14 Imperial Pl, Providence, RI 02903
      View Details
    • New
      $1,650,000
      0.06 Acres

      Mixed-Use Building in Providence, RI

      Fully rented mixed-use building with residential and commercial tenants.
      374 Wickenden 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
    • $995,000
      7,433 SF

      Mixed-Use Building on Atwells Avenue

      Three-story mixed-use building with retail and apartments for sale.
      289 Atwells Ave, Providence, RI 02903
      View Details
    • $879,000

      Downtown Providence Mixed-Use Gem

      Prime location, redevelopment potential, three units.
      11 Peck St, Providence, RI 02903
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,243 SF

      Retail Space Available For Rent

      Retail space available for rent, 4243 square feet.
      210 Dyer St, Providence, RI 02903
      View Details
    • Contact for pricing
      1,200 SF

      Furnished Office Space Sublease

      Elegantly built-out, fully furnished office space in Providence, RI.
      1 Weybosset St, Providence, RI 02903
      View Details
    • Contact for pricing

      Downtown Providence Land For Lease

      Land for lease in downtown Providence near amenities.
      100 Pine St, Providence, RI 02903
      View Details
    • $20 SF/Yr
      5,934 SF

      Downtown Providence Office Space Available

      Office space for rent in a central downtown location.
      72 Pine St, Providence, RI 02903
      View Details
    • $579,000
      4,285 SF

      High-End Financial District Office Condo

      Modern office space with high ceilings and natural light.
      146 Westminster St, Providence, RI 02903
      View Details
    • $26 SF/Yr
      37,500 SF

      Prime Providence Office Space

      7,500 SF Full-Floor Office Suite
      56 Exchange Ter, Providence, RI 02903
      View Details
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    359 Atwells Ave
    Providence, RI 02903
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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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