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    862 Charles St North Providence, RI 02904
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    Property profile & analytics

    862 Charles St North Providence, RI 02904

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    • Investment properties
    • 8,652 SF
    • 0.29 lot acres
    For Sale
    $699,900
    View Listing →
    Mixed-Use Building with Three Units For Sale
    $699,900
    7,272 SF

    Mixed-Use Building with Three Units

    Well-maintained mixed-use building featuring three units and ample parking.

    862 Charles, North Providence, RI 2904
    View Listing
    Property ID
    US76-0205232
    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

    • Investment properties

    Property Details for 862 Charles St

    Year built
    1983
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.29 lot acres
    Property size
    8,652 SF
    Zone code
    CV
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NPRO M:1 L:391
    APU
    NPROM1L391

    Description

    This exceptional North Providence, RI investment opportunity encompasses a 12,415 sq ft lot featuring two buildings on 862 Charles Street, zip code 02904. The property is a mixed-use offering, combining residential and commercial components. The residential portion consists of a charming two-family home with two renovated two-bedroom units, ready for immediate rental income. The commercial building, a substantial 7,272 sq ft masonry structure built in 1982, is zoned CV (Commercial Village), providing versatile usage potential. This three-unit building boasts individual utilities for each unit, including three-phase electric, sewer, water, and gas. Modern amenities include an updated fire alarm system and bathrooms in both common areas and individual units. The property's three-story configuration, built in 1983, offers ample space and modern conveniences. This well-maintained property presents a unique opportunity for investors or entrepreneurs seeking a versatile space with built-in income potential. The property's location in Providence County offers easy access to major roadways and amenities. This is a rare chance to acquire a multi-use property with significant income potential and modern amenities. The asking price is $1,250,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $932,000
      Market price range: $932k - $1.78M
      AI Estimate
      $610,000
      Market price range: $507k - $1.45M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,255,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4226
    Latitude
    41.8606
    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
    $0.00
    $115,300
    $482,100
    $597,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      2,591 SF

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    • Value Estimation by Request
      3,880 SF

      459 Charles St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,880 SF
      459 Charles St, Providence, RI 02904-2210
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      58 Russo St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,617 SF
      58 Russo St, Providence, RI 02904-1255
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      5,592 SF

      141 Urban Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,592 SF
      141 Urban Ave, North Providence, RI 02904-4930
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    • Value Estimation
      $625,000
      4,793 SF

      1540 Mineral Spg Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,793 SF
      1540 Mineral Spg Ave, North Providence, RI 02904-4097
      View Details
    • Value Estimation by Request
      2,413 SF

      294 Br Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,413 SF
      294 Br Ave, Providence, RI 02904-2505
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.21 Acres

      Mixed-Use Property in North Providence

      Commercial space with on-site residency in a high-traffic location.
      1441 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • $449,000

      Mixed-Use Property with Commercial Space

      Versatile 3-unit property with commercial space and residential units.
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      Versatile Mixed-Use Property

      Three-unit property with commercial space and residential units.
      559 Branch Ave, Providence, RI 02904
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    • New
      $449,000
      2,931 SF

      Versatile Mixed-Use Property in Providence

      Three-unit property with commercial space and residential units.
      559 Branch Ave, Providence, RI 02904
      View Details
    • $449,000
      2,931 SF

      Versatile Mixed-Use Property in Providence

      Three-unit mixed-use property with commercial and residential spaces.
      559 Branch Ave, Providence, RI 02904
      View Details
    • New
      $449,000
      2,931 SF

      Versatile Mixed-Use Property in Providence

      Three-unit mixed-use property with commercial space and residential units.
      559 Branch Ave, Providence, RI 02904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,288 SF

      Mixed-Use Property For Lease

      Mixed-use property with development opportunity at signaled intersection.
      1127 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • $3,500 /Mo

      Mixed-Use Property with On-Site Residency

      Commercial space with living quarters in a high-traffic location.
      1441 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • $3,500 /Mo

      Mixed-Use Property with On-Site Residency

      Commercial space with living quarters in a high-traffic location.
      1441 Mineral Spring Ave, North Providence, RI 02904
      View Details
    • Contact for pricing

      Grocery-Anchored Shopping Center For Rent

      112,494 SF shopping center anchored by Shaw’s Supermarket.
      41 Smithfield Rd, North Providence, RI 02904
      View Details
    • Contact for pricing
      3,000 SF

      Modern Showroom/Office Space Available

      3,000 SF showroom/office space with modern interiors and ample parking.
      1401 Douglas Ave, North Providence, RI 02904
      View Details
    • Contact for pricing
      8,000 SF

      Mineral Spring Avenue Retail Opportunity

      Retail/Restaurant space with drive-thru option available on Mineral Spring Avenue.
      1951 Mineral Spring Ave, North Providence, RI 02904
      View Details
    View Listing
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    862 Charles St
    North Providence, RI 02904
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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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