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

    892 Allens Ave Providence, RI 02905-4415

    • Investment properties
    • 6,683 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Mar 03, 2021
    $560,000
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0420267
    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

    • Acoreana Meat Market / Grocery Store

    Property Details for 892 Allens Ave

    Year built
    1930
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    6,683 SF
    Zone code
    C-1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PROV M:101 L:225
    APU
    PROVM101L225

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $885,000
      ML approach
      $1,060,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,575,000
      6.5%
      $1,455,000
      7%
      $1,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $656,000
      Market price range: $656k - $1.26M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $865,000
      Current use
      OFFICE BUILDING
      $1,430,000
      Change: +66% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3964
    Latitude
    41.7913
    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
    $110,300
    $360,200
    $470,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $360,000
      1,872 SF

      8 Aborn St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,872 SF
      8 Aborn St, Cranston, RI 02905-3641
      View Details
    • Value Estimation
      $360,000
      2,250 SF

      1844 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,250 SF
      1844 Broad St, Cranston, RI 02905-3525
      View Details
    • Value Estimation
      $4,565,000
      8,365 SF

      1704 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,365 SF
      1704 Broad St, Cranston, RI 02905-2720
      View Details
    • Value Estimation
      $425,000
      6,486 SF

      2003 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 6,486 SF
      2003 Broad St, Cranston, RI 02905-3430
      View Details
    • Value Estimation
      $405,000
      11,080 SF

      2206 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 11,080 SF
      2206 Broad St, Cranston, RI 02905-3332
      View Details
    • Value Estimation
      $325,000
      2,868 SF

      1020 Broad St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,868 SF
      1020 Broad St, Providence, RI 02905-1707
      View Details

    Similar Nearby for Sale

    • $7,299,000

      Providence Industrial Portfolio: 5 Buildings

      Prime RI location, 130K+ SF, mixed-use potential.
      735 Allens Ave, Providence, RI 02905
      View Details
    • $599,000

      Cranston Mixed-Use Investment

      Prime Cranston location, 3 units, $599,000
      189 Smith St Smith St, Cranston, RI 02905
      View Details
    • $575,000
      2,678 SF

      Prime Providence Mixed-Use Property

      $575K, 2 Units, High Potential
      824 Broad St, Providence, RI 02905
      View Details
    • $1,200,000
      0.27 Acres

      Cranston Commercial Corner Lot

      Commercially zoned lot in Edgewood neighborhood, Cranston.
      19 Warwick Ave, Providence, RI 02905
      View Details
    • $599,000
      0.08 Acres

      Mixed-Use Investment Opportunity, Cranston

      Four-unit property with commercial and residential spaces in Cranston.
      189 Smith St, Providence, RI 02905
      View Details
    • $1,200,000
      0.27 Acres

      Cranston Commercial Lot For Sale

      Highly visible commercial lot in Edgewood neighborhood with development opportunities.
      19 Warwick Ave, Providence, RI 02905
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      66,242 SF

      Providence Creative Office Space

      Prime location, renovated mill building, 7,708 SF available.
      134 Thurbers Ave, Providence, RI 02905
      View Details
    • $15 SF/Yr
      14,822 SF

      Providence Manufacturing Space For Lease

      14,822 SF Manufacturing Building, RI
      253 Georgia Ave, Providence, RI 02905
      View Details
    • Contact for pricing
      51,000 SF

      Eddy Street Commercial Space

      Located near hospitals, flexible floor plates, suitable for various uses.
      226 Public St, Providence, RI 02905
      View Details
    • Contact for pricing
      2,600 SF

      Medical Suite Available for Rent

      2600 square foot medical suite with ample parking.
      118 Dudley St, Providence, RI 02905
      View Details
    • Contact for pricing
      2,600 SF

      Cranston Retail Space For Lease

      Prime Cranston retail building, 2600 sq ft.
      1750 Broad St, Cranston, RI 02905
      View Details
    • $15 SF/Yr
      16,991 SF

      Providence Industrial Building For Lease

      16,991± SF industrial building with convenient highway access.
      189 Georgia Ave, Providence, RI 02905
      View Details
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    892 Allens Ave
    Providence, RI 02905-4415
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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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