You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.

488 Smith St Providence, RI 02908-4307

OFF-MARKET Showrooms Google Maps
1,700 SF 0.04 ac lot Built 1930
Entity Owned Absentee Owner Free & Clear
Estimated value (blended)
$70k
Range $63k – $77k (±10%)
Property ID US76-0200301

Property summary

AI-generated overview

This exceptional 1,700 square foot commercial property, located at 488 Smith Street in the heart of Providence, Rhode Island, presents a unique opportunity for discerning entrepreneurs. Situated on a 0.04-acre lot, this brand-new building boasts a custom interior designed for optimal business functionality. Constructed with high-quality materials and built to code, the property offers a versatile space ready for immediate occupancy. A significant advantage is the inclusion of a 600 square foot basement, providing ample additional storage or expansion potential. The property is available for sale at $360,000 or for lease, offering flexibility to suit various business needs. A build-out allowance is available to assist with tenant improvements, further enhancing the value proposition. For those seeking a longer-term investment, a lease-to-own option is also being considered. The property benefits from its location in a high-traffic area of Providence, ensuring excellent visibility and accessibility for customers. This is a rare chance to establish a business in a prime location with a modern, adaptable space. Don't miss this opportunity to create your ideal business environment in the thriving city of Providence.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1930
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,700 SF
Lot 0.04 ac (1,829 SF)
Zoning code R-3
APN PROV M:69 L:406
UPID US76-0200301

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Department Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$70k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$70k

Owner & transaction history

since 2026
Last sale
$70,000
4 recorded transactions
2026
$230,000
2024
Price N/A
2022
$70,000
2013
Price N/A

Zoning & alternative use

R-3 · Providence, RI
Zoning description

The purpose of the R-3 Residential District is intended for higher density residential areas of detached single family, two family and three family residential development as well as rowhouse development, additionally, l…

General category RESIDENTIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 488 Smith St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message