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    680 Admiral St Providence, RI 02908-1442
    Property profile & analytics

    680 Admiral St Providence, RI 02908-1442

    View on Map
    • Investment properties
    • 4,620 SF
    • 0.28 lot acres
    Off-Market
    Last Sale Apr 16, 2024
    $737,000
    Property ID
    US76-0406898
    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.
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    7%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Douglas ave / Freight Service / Logistics Company

    Property Details for 680 Admiral St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.28 lot acres
    Property size
    4,620 SF
    Zone code
    C-1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:118 L:412
    APU
    PROVM118L412

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $940,000
      ML approach
      $950,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,090,000
      6.5%
      $1,005,000
      7%
      $935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $622,000
      Market price range: $382k - $893k
      AI Estimate
      $533,000
      Market price range: $327k - $802k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $660,000
      Current use
      OFFICE BUILDING
      $990,000
      Change: +50% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4392
    Latitude
    41.8491
    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
    $142,900
    $279,100
    $422,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      901 Smith St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.13 Acres
      901 Smith St, Providence, RI 02908-2703
      View Details
    • Value Estimation by Request
      2,342 SF

      475 Chalkstone Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,342 SF
      475 Chalkstone Ave, Providence, RI 02908-3739
      View Details
    • Value Estimation by Request
      2,912 SF

      128 Academy Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,912 SF
      128 Academy Ave, Providence, RI 02908-4523
      View Details
    • Value Estimation by Request
      2,672 SF

      43 Douglas Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,672 SF
      43 Douglas Ave, Providence, RI 02908-3223
      View Details
    • Value Estimation by Request
      3,921 SF

      958 Chalkstone Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,921 SF
      958 Chalkstone Ave, Providence, RI 02908-4244
      View Details
    • Value Estimation by Request
      2,448 SF

      556 Admiral St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,448 SF
      556 Admiral St, Providence, RI 02908-1549
      View Details

    Similar Nearby for Sale

    • $699,900
      Pending

      Douglas Avenue Development Opportunity

      Two buildings near Providence College with income potential.
      544 Douglas Ave, Providence, RI 02908
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    • $494,999

      Providence Development Opportunity For Sale

      M1-zoned property in high-demand area, ideal for diverse development.
      56 River St, Providence, RI 02908
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    • $699,900

      Mixed-Use Property in Providence

      Mixed-use property available for sale in Providence, Rhode Island.
      544 Douglas Ave, Providence, RI 02908
      View Details
    • $494,999

      Providence M1-Zoned Development Opportunity

      M1-zoned property suitable for residential, industrial, or warehouse development.
      56 River Ave, Providence, RI 02908
      View Details
    • $749,900
      7,936 SF

      Douglas Avenue Development Opportunity

      Two buildings near Providence College with income potential.
      544 Douglas Ave, Providence, RI 02908
      View Details
    • $775,000

      Tudor-Style Mixed-Use Multi-Family Estate

      Unique mixed-use property in Providence's Mount Pleasant neighborhood.
      129 Academy Ave, Providence, RI 02908
      View Details

    Similar Nearby for Lease

    • Contact for pricing

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      Restored Mill Campus Office Center

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      50 Holden St, Providence, RI 02908
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      Restored Mill Campus Office Space

      Unique mixed-use destination with commercial office and loft-style apartments.
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      Historic Office Building with Mezzanine

      Two-story office building with exposed structures and large clerestory.
      297-299 Promenade St, Providence, RI 02908
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      Restaurant End Cap Unit

      Restaurant space in high-traffic shopping center near Aldi.
      539 Smith St, Providence, RI 02908
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    • $12 SF/Yr
      10,928 SF

      Industrial Property with Loading Docks

      Two-story industrial property featuring loading docks and flex space.
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      View Details
    Request Owner's contact information
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    680 Admiral St
    Providence, RI 02908-1442
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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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