Providence, Rhode Island, is a prime location for investing in Retail Properties, with 51 available listings. As a hub for service industries, education, and healthcare, the city offers a diverse range of opportunities for retailers. Retail Properties in Providence can represent a variety of investments, from small boutiques to large shopping centers, each with its own unique characteristics and benefits. The city's amenities, infrastructure, and location make it an attractive place to invest in Retail Properties, with proximity to institutions like Brown University, Johnson & Wales University, and Rhode Island College. The city's geography, with the Providence River running through it, also provides scenic views and opportunities for waterfront development. Additionally, Providence is a great place for business and travel, with attractions like Waterplace Park and the Riverwalk, Roger Williams Park, and the Rhode Island School of Design Museum.
Providence offers a range of Retail Properties, from small shops to large commercial spaces, with an average price per square foot of $277 USD and an average size of 10,991 square feet. The largest Retail Property available is 77,985 square feet. With an average cap rate of 6.54%, Retail Properties in Providence can provide a strong return on investment. Nearby, you'll find Shopping Centers like Providence Place Mall, Restaurants like those in the Jewelry District, Office Properties like those in the Knowledge District, and Hotels like the Providence Biltmore. Each of these property types offers its own unique benefits and opportunities, and Providence's diverse economy and attractions make it an attractive place to invest in Retail Properties.
What is the average cap rate for retail properties in Providence?
When it comes to retail properties in Providence, investors can expect an average cap rate of 6.54%. For those unfamiliar with this key metric, a cap rate, or capitalization rate, represents the rate of return on investment based on the property's net operating income and its value - to learn more, check out our in-depth article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Providence, Rhode Island, the location and foot traffic of a retail property significantly impact its value. Properties with high visibility and accessibility, such as those situated in popular areas like the East Side, Jewelry District, or near major attractions like Waterplace Park and the Riverwalk, tend to command higher prices due to their potential for increased foot traffic and customer exposure, with the average price per square foot being $277 USD and average size being 10,991 square feet.
