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

    45 Newport Ave East Providence, RI 02916

    • Commercial real estate
    • 4.60 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0197623
    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

    • Newport Plaza / Shopping Center & Mall
    • Chelo's Hometown Bar & Grille / Bar & Pub / Restaurant

    Property Details for 45 Newport Ave

    Lot size
    4.60 lot acres
    Zone code
    C3
    Property type
    Commercial real estate
    APN
    EPRO M:401 B:01 L:008 U:
    APU
    EPROM401B01L008U

    Description

    This East Providence, RI property offers two exceptional retail spaces totaling 4160 square feet at 45 Newport Ave, zip code 02916. One space is a former Little Caesar's restaurant, measuring 1,560 square feet, while the adjacent space offers 2,600 square feet of versatile retail area. These spaces can be leased individually or combined to create a larger footprint, perfectly suited for a variety of businesses. The property benefits from a highly visible location on Newport Avenue, a busy thoroughfare boasting a daily traffic count of 33,000 vehicles, ensuring maximum exposure for your business. Conveniently situated with signalized access shared with a CVS pharmacy, this location offers excellent customer accessibility. The property is located in Providence County, Rhode Island. This prime retail opportunity presents a unique chance to establish or expand your business in a high-traffic area with strong visibility and convenient access. The spaces are ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Rumford
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3555
    Latitude
    41.8585
    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
    2020
    $88,614
    $0.00
    $0.00
    $4,041,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $15,675,000
      200,200 SF

      257 Ferris Ave

      COMMERCIAL (GENERAL) • 200,200 SF
      257 Ferris Ave, Rumford, RI 02916-1033
      View Details
    • Value Estimation by Request
      5,828 SF

      15 Cir St

      SHOW ROOM, WAREHOUSE • 5,828 SF
      15 Cir St, Rumford, RI 02916-1004
      View Details
    • Value Estimation
      $530,000
      4,260 SF

      272 Ferris Ave

      SHOW ROOM, WAREHOUSE • 4,260 SF
      272 Ferris Ave, Rumford, RI 02916-1039
      View Details
    • Value Estimation
      $595,000
      3,421 SF

      10 Newman Ave

      SHOW ROOM, WAREHOUSE • 3,421 SF
      10 Newman Ave, Rumford, RI 02916-7700
      View Details
    • Value Estimation
      $660,000
      6,170 SF

      179 Newport Ave

      SHOW ROOM, WAREHOUSE • 6,170 SF
      179 Newport Ave, Rumford, RI 02916-2025
      View Details
    • Value Estimation by Request
      2,430 SF

      339 Newport Ave

      SHOW ROOM, WAREHOUSE • 2,430 SF
      339 Newport Ave, Rumford, RI 02916-2140
      View Details

    Similar Nearby for Sale

    • $5,250,000
      72,000 SF

      72,000 SF Industrial Building

      Two-story industrial building with parking and loading docks.
      77 Pawtucket Ave, Rumford, RI 02916
      View Details
    • New
      $525,000
      0.13 Acres

      East Providence Two-Family Home

      Well-maintained two-family home in desirable Rumford neighborhood.
      5 Nelson St, East Providence, RI 02916
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      East Providence Redevelopment Opportunity

      1.8 acres with high traffic, suitable for redevelopment.
      400 Newport Ave, East Providence, RI 02916
      View Details
    • Contact for pricing
      4,320 SF

      East Providence Retail Space For Lease

      Prime Retail, Two Suites Available
      75 Newport Ave, East Providence, RI 02916
      View Details
    • Contact for pricing
      2,600 SF

      East Providence Retail Spaces Available

      High-traffic retail spaces, 1560-2600 sq ft.
      45 Newport Ave, East Providence, RI 02916
      View Details
    • Contact for pricing

      East Providence Retail Pad Available

      Retail pad site available in East Providence shopping center.
      East Providence, RI 02916
      View Details
    • $1,295,000
      2,708 SF

      Freestanding Former Bank Building

      Freestanding former bank in a suburban East Bay location.
      275 Newport Ave, Rumford, RI 02916
      View Details
    • Contact for pricing

      Prime East Providence Land

      1.8-Acre Commercial Development Site
      400 Newport Ave, East Providence, RI 02916
      View Details
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    45 Newport Ave
    East Providence, RI 02916
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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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