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

    51 Phillips St East Providence, RI 02914-4514

    • Showrooms
    • 10,320 SF
    • 0.81 lot acres
    OFF-MARKET
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0050330
    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

    • Holy Ghost Beneficial Brotherhood / Association / Organization / Fraternal Organization
    • Phillips Street Restaurant / Portuguese Restaurant / Restaurant

    Property Details for 51 Phillips St

    Year built
    1925
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.81 lot acres
    Property size
    10,320 SF
    Zone code
    R6
    Property type
    Showrooms
    APN
    EPRO M:106 B:15 L:002 U:
    APU
    EPROM106B15L002U

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,269,000
      Market price range: $929k - $2.42M
      AI Estimate
      $811,000
      Market price range: $520k - $1.56M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,660,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3766
    Latitude
    41.8178
    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
    2024
    $20,083
    $173,100
    $666,500
    $839,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,670,000
      11,546 SF

      286 Warren Ave, Unit 288

      SHOW ROOM, WAREHOUSE • 11,546 SF
      286 Warren Ave, East Providence, RI 02914-4732
      View Details
    • Value Estimation
      $875,000
      9,000 SF

      1 Ofc Pkwy

      SHOW ROOM, WAREHOUSE • 9,000 SF
      1 Ofc Pkwy, East Providence, RI 02914-1643
      View Details
    • Value Estimation
      $940,000
      3,305 SF

      80 Highland Ave

      SHOW ROOM, WAREHOUSE • 3,305 SF
      80 Highland Ave, East Providence, RI 02914-1221
      View Details
    • Value Estimation by Request
      2,484 SF

      111 Pershing St

      SHOW ROOM, WAREHOUSE • 2,484 SF
      111 Pershing St, East Providence, RI 02914-2158
      View Details
    • Value Estimation by Request
      2,100 SF

      217 Taunton Ave

      SHOW ROOM, WAREHOUSE • 2,100 SF
      217 Taunton Ave, East Providence, RI 02914-4532
      View Details
    • Value Estimation
      $2,885,000
      18,332 SF

      500 Taunton Ave

      SHOW ROOM, WAREHOUSE • 18,332 SF
      500 Taunton Ave, East Providence, RI 02914-1615
      View Details

    Similar Nearby for Sale

    • $1,450,000
      2,832 SF

      East Providence Retail/Showroom Opportunity

      2,832 SF retail/showroom on 0.66 acres with high visibility.
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    • $775,000

      Prime East Providence Commercial Property

      Multi-use building, 9,995 sq ft lot, high visibility.
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    • $799,000

      Prime East Providence Mixed-Use

      10,000 SF lot, 2-unit building, high income.
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    • Contact for pricing
      14,000 SF

      Hospitality Venue with Marina Views

      Multi-level hospitality venue with outdoor dining and marina.
      28-34 Water St, E Providence, RI 02914
      View Details
    • $1,900,000
      5,366 SF

      Retail Property on Route 6

      Corner retail location with strong parking and high traffic.
      35 Highland Ave, East Providence, RI 02914
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    • $699,900

      Mixed-Use Property with Income Potential

      Mixed-use property featuring a laundromat and residential rental units.
      686 N Broadway, East Providence, RI 02914
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    Similar Nearby for Lease

    • Contact for pricing
      216,444 SF

      Wampanoag Plaza: Retail Space Available

      Grocery-anchored shopping center; prime East Providence location.
      1925 Pawtucket Ave, East Providence, RI 02914
      View Details
    • $15 SF/Yr
      3,795 SF

      Prime East Providence Office Space

      Retail/Office Building, 3795 sq ft, 75+ Parking
      999 Broadway, East Providence, RI 02914
      View Details
    • $18 SF/Yr
      24,600 SF

      Prime East Providence Office Space

      Nine private offices, 3600 sq ft, ideal location.
      22 Almeida Ave, East Providence, RI 02914
      View Details
    • $22 SF/Yr
      2,500 SF

      Move-in Ready Office/Medical Suite

      2,500 SF office/medical suite with ample parking.
      450 Veterans Memorial Pkwy, East Providence, RI 02914
      View Details
    • Contact for pricing
      16,000 SF

      East Providence Office Space Available

      Class A office space for lease near Downtown Providence.
      50 Jordan St, East Providence, RI 02914
      View Details
    • $18 SF/Yr
      3,600 SF

      East Providence Office Space Available

      3,600 SF office space with nine private offices for rent.
      22 Almeida Ave, East Providence, RI 02914
      View Details
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    51 Phillips St
    East Providence, RI 02914-4514
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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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