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    824 Broad St Providence, RI 02905
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    Property profile & analytics

    824 Broad St Providence, RI 02905

    View on Map
    • Commercial real estate
    • 2,678 SF
    Off-Market
    Property ID
    US76-0147832
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • T & T Associates / Accounting Firm / Tax Preparation
    • Salon 420 / Hair Salon / Nail Salon

    Property Details for 824 Broad St

    Year built
    1930
    Property size
    2,678 SF
    Property type
    Commercial real estate

    Description

    This exceptional mixed-use property at 824 Broad Street in Providence, Rhode Island, presents a unique investment opportunity. Built in 1930, the 2,678 square foot building sits on a 4,356 square foot lot and currently features two units. The first floor previously housed a beauty salon, barber shop, and two separate business offices, each with its own entrance. Amenities include two bathrooms, gas heat, and central air conditioning. In 2021, the second floor was renovated into a single residential apartment, boasting a living room, dining room, kitchen, a large bathroom with a bathtub and stand-alone shower, and laundry hookups. The property offers ample parking with space for four cars. The existing configuration allows for easy conversion into three or four apartments, or a combination of commercial and residential spaces, potentially including a three-bedroom townhouse-style apartment. This versatile property is ideally situated in Providence, RI, zip code 02905, offering significant potential for future development and strong rental income. The asking price is $575,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3943127
    Latitude
    41.7878199

    Comparable in this City

    • $3,950,000

      Full City Block Development Opportunity

      3.09 acres suitable for mixed-use redevelopment or investment.
      735 Allens Ave, Providence, RI 02905
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    • $899,000
      2,350 SF

      Multi-Lot Flex-Use Property

      Rare commercial opportunity near I-95 and downtown Providence.
      550 Prairie Ave, Providence, RI 02905
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    • $7,299,000

      Providence Industrial Portfolio: 5 Buildings

      Prime RI location, 130K+ SF, mixed-use potential.
      735 Allens Ave, Providence, RI 02905
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    • Contact for pricing
      2,297 SF

      Mixed-Use Property on Broad Street

      Mixed-use property with commercial space and residential units for sale.
      1445 Broad St, Providence, RI 02905
      View Details
    • $3,950,000

      Providence Development Opportunity: 3.09 Acres

      Full city block for mixed-use redevelopment or investment.
      735 Allens Ave, Providence, RI 02905
      View Details
    • $1,499,999

      Two-Story Commercial Building with Expansion

      Two-story commercial building with expansion potential in vibrant neighborhood.
      1137 Broad St, Providence, RI 02905
      View Details

    Similar Nearby for Sale

    • $899,000
      2,350 SF

      Multi-Lot Flex-Use Property

      Rare commercial opportunity near I-95 and downtown Providence.
      550 Prairie Ave, Providence, RI 02905
      View Details
    • Contact for pricing
      2,297 SF

      Mixed-Use Property on Broad Street

      Mixed-use property with commercial space and residential units for sale.
      1445 Broad St, Providence, RI 02905
      View Details
    • $3,950,000

      Providence Development Opportunity: 3.09 Acres

      Full city block for mixed-use redevelopment or investment.
      735 Allens Ave, Providence, RI 02905
      View Details
    • $3,950,000

      Full City Block Development Opportunity

      3.09 acres suitable for mixed-use redevelopment or investment.
      735 Allens Ave, Providence, RI 02905
      View Details
    • $7,299,000

      Providence Industrial Portfolio: 5 Buildings

      Prime RI location, 130K+ SF, mixed-use potential.
      735 Allens Ave, Providence, RI 02905
      View Details
    • Contact for pricing
      1,968 SF

      Renovated Mixed-Use Building For Sale

      Completely renovated mixed-use building in a busy area.
      786 Eddy St, Providence, RI 02905
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    Similar Nearby for Lease

    • Contact for pricing

      Providence Manufacturing Facility For Lease

      10,000 SF manufacturing facility with fenced yard, convenient location.
      12 Lehigh St, Providence, RI 02905
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    • $4 SF/Yr
      9,030 SF

      Providence Commercial Space For Rent

      9,030 sqft commercial space available for rent in Providence.
      299 Allens Ave, Providence, RI 02905
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Providence, RI.
      545 Prairie Ave, Providence, RI 02905
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      14,822 SF

      Providence Manufacturing Space For Lease

      14,822 SF manufacturing building on 31,708 SF land, zoned industrial.
      253 Georgia Ave, Providence, RI 02905
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    • Contact for pricing
      7,708 SF

      Renovated Mill Office Space

      Conveniently located office space in a renovated mill building.
      134 Thurbers Ave, Providence, RI 02905
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    • $18 SF/Yr

      Prime Retail/Office Space Available

      Highly visible 1,000 sq ft retail/office space on Park Avenue.
      285 Park Ave, Cranston, RI 02905
      View Details
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    Providence, RI 02905
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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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