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15 Thomas St 3,888 sq ft 100% Let Retail Property North Providence, RI 02911 £1,120,638 (£288.23/sq ft)
EXECUTIVE SUMMARY
Introducing 15 Thomas Street—a prime, turnkey mixed-use property delivering strong, diversified income & exceptional versatility for both investors & owner-occupants. The property is thoughtfully configured to maximize revenue potential across commercial & residential uses. The first floor has two well-finished commercial suites: a polished real estate office featuring two private rooms, a half bath, & central AC, & a stylish three-room move-in ready bridal salon, ideal for a service retailer or boutique. The lower level expands the income stream with a nail salon & a 1-bed, 1-bath apartment. Both commercial & residential tenants enjoy modern amenities, gas heat, & central AC. Upstairs, the second & third floors offer a spacious townhouse-style apartment with six beds, two full baths, & a generous common area. This unit is currently leased as workforce housing, providing excellent monthly returns. For added value, the site features a detached cottage. ** Ample on-site parking accommodates both commercial clients & residents, & the property’s CV zoning supports a mix of uses for ongoing stability.**Strategically located with quick access to Route 44 & I-295, 15 Thomas Street is in a vibrant neighborhood with strong tenant interest. Ideal for investors or owners seeking reliable cash flow, asset appreciation, or a hybrid live-work opportunity, this meticulously maintained property delivers an unmatched return on investment and future upside.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£111,725
|
£28.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£111,725
|
£28.74
|
| Taxes |
£7,089
|
£1.82
|
| Operating Expenses |
£22,327
|
£5.74
|
| Total Expenses |
£29,416
|
£7.57
|
| Net Operating Income |
£82,309
|
£21.17
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £111,725 |
| Annual Per sq ft | £28.74 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £111,725 |
| Annual Per sq ft | £28.74 |
| Taxes | |
|---|---|
| Annual | £7,089 |
| Annual Per sq ft | £1.82 |
| Operating Expenses | |
|---|---|
| Annual | £22,327 |
| Annual Per sq ft | £5.74 |
| Total Expenses | |
|---|---|
| Annual | £29,416 |
| Annual Per sq ft | £7.57 |
| Net Operating Income | |
|---|---|
| Annual | £82,309 |
| Annual Per sq ft | £21.17 |
PROPERTY FACTS
Sale Type
Investment or Owner Occupier
Property Type
Retail
Property Subtype
Standalone
Property Size
3,888 sq ft
Costar Property Class
C
Year Built
1950
Price
£1,120,638
Price per sq ft
£288.23
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Floor To Floor Height
10 ft
Plot ratio
0.22
Total Plot Size
0.40 ac
Use Class
CV
Parking
12 Spaces (3.09 Spaces per 1,000 sq ft Leased)
Frontage
50 ft on Thomas St
AMENITIES
- Corner Lot
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- Dipetrillo Properties
- Real Estate
- -
- -
- -
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| Dipetrillo Properties | Real Estate | - | - | - |
Walk Score®
Easily Walkable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | NPRO-000014-000000-000466 | Total Assessment | £303,625 (2025) |
| Land Assessment | £88,824 (2025) | Annual Taxes | £7,089 (£1.82/sq ft) |
| Improvements Assessment | £214,801 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
NPRO-000014-000000-000466
Land Assessment
£88,824 (2025)
Improvements Assessment
£214,801 (2025)
Total Assessment
£303,625 (2025)
Annual Taxes
£7,089 (£1.82/sq ft)
Tax Year
2024
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15 Thomas St
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