Individually Owned Property summary
AI-generated overview
This exceptional mixed-use property at 680 Admiral Street in Providence, Rhode Island, presents a unique investment opportunity. The three-story, 1910 building boasts 12,197 square feet of land and is strategically located at a busy four-way intersection near Providence College. Currently configured as a mixed-use space, the first floor is occupied by a thriving pizzeria under lease, generating immediate rental income. The upper two floors offer excellent residential rental potential, with multiple units available. The property also includes a significant 12,197 square foot lot, currently utilized as a 16-space parking area, offering substantial development potential. This lot presents opportunities for expansion, subdivision, or the creation of additional income-generating assets. The asking price for this remarkable property is $1,100,000. This is a rare chance to acquire a well-located, income-producing asset with significant upside potential in a vibrant Rhode Island community. The property's combination of established rental income and substantial development land makes it an attractive investment for both seasoned and emerging investors seeking strong returns.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Construction
FRAME
Total area
4,620 SF
Lot
0.28 ac (12,203 SF)
Zoning code
C-1
APN
PROV M:118 L:412
UPID
US76-0406898
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
-
Freight Service Logistics Company
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$950k
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$940k
Owner & transaction history
since 2024
Last sale
$737,000
6 recorded transactions
Zoning & alternative use
C-1 · Providence, RI
Top alternative use upside
Office building
$990,000
+49.7%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 13 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$940k
Value range
$846k – $1.03M
±10% around blend
Estimated value / SF
$203 / SF
Confidence
High
13 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$846k
blend $940k
$1.03M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,620 SF
Lot area
0.28 ac
Year built
1910
Stories
3
APN
PROV M:118 L:412
Zoning
C-1
Assessed value
$422,000
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.01M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.09M
@ 6.5% CAP return
$1.01M
@ 7% CAP return
$935k
4
Sales comparison
Partial preview
Sales approach indication
$975k
Weighted, 13 comps · high confidence
Evidence
13 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.0 mi away · 4,343 SF
1.9 mi away · 3,873 SF
2.0 mi away · 5,346 SF
2.0 mi away · 5,346 SF
2.0 mi away · 5,864 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$940k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 82 sales
$143
+42%
Submarket 605 sales
$162
+26%
County 1487 sales
$146
+39%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $203/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+50%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 13 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
7.00%
Implied, in-place cap rate for this investment properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 7.00%
9.0%
NOI (est.)
$52k *
Last sale · Apr 2024
$737k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$737k
Move the market yield to see immediate price impact.
Value / SF
$160
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.50%7.00%7.50%
$46k
$714k
$663k
$619k
$52k
$794k
$737k
$688k
$57k
$873k
$811k
$757k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
13 found
High confidence · county-verified
Closest comparable
$830k
0.3 mi · Jan 2026 · $205/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$422,000
Assessed 2023
Previous assessed
$422,000
+0.0% YoY
Assessed land
$142,900
Assessed improvement
$279,100
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Construction
FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
3
Units
3
Bathrooms
3
Total area
4,620 SF
Lot
0.28 ac (12,203 SF)
Zoning code
C-1
APN
PROV M:118 L:412
UPID
US76-0406898
Jurisdiction
PROVIDENCE
Zoning & alternative use
C-1 · Providence, RIZoning C-1 · permitted uses
C-1 · Providence, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
1
Units
3
Bathrooms
3
Lot
0.28 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C-1
Jurisdiction
Providence, RI
Recorded code
C-1
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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