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7 Units North Providence! 1043-1045 Charles St 3,213 SF 100% Leased Retail Building Providence, RI 02904 $1,000,000 ($311.24/SF) 3.80% Cap Rate
EXECUTIVE SUMMARY
Well-maintained mixed-use property featuring two street-level retail spaces and five residential apartments in a strong retail corridor. The location offers excellent visibility and consistent foot traffic, ideal for stable commercial tenants. All but one apartment are currently leased, providing reliable income. The rear lot offers flexibility for a potential subdivision and multifamily development or can be retained as additional parking or expansion area. A solid investment opportunity with strong existing cash flow and future upside.
1 Gas Meter. 6 Electrical (Need to connect them to all units and add 2)
Potential of a 7+ cap.
1 Gas Meter. 6 Electrical (Need to connect them to all units and add 2)
Potential of a 7+ cap.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,213 SF
Building Class
C
Year Built
1935
Price
$1,000,000
Price Per SF
$311.24
Cap Rate
3.80%
NOI
$38,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.43
Lot Size
0.17 AC
Opportunity Zone
Yes
Zoning
CV
Frontage
AMENITIES
- Bus Line
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | NPRO-000002-000000-000263 | Improvements Assessment | $231,700 |
| Land Assessment | $98,600 | Total Assessment | $330,300 |
PROPERTY TAXES
Parcel Number
NPRO-000002-000000-000263
Land Assessment
$98,600
Improvements Assessment
$231,700
Total Assessment
$330,300
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7 Units North Providence! | 1043-1045 Charles St
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