Triplex with Large
For Sale
$500,000
Pending
18 West Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size3,146 SF
Lot Size0.58 Acres
Days on Market96
Property Features for 18 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 8, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 4, Basement
Parking
10
Parking features
None
Interior features
Wall (Cermaic), Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Oven/Range, Refrigerator
Subdivision
Artic
Lot features
Out Building
Standard status
Pending
Size
3,146 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5677
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Central
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Marble, Vinyl, Tile - Ceramic, Laminate, Hardwood
Building materials
Ceramic, Dry Wall, Paneled, Plaster, Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Jennifer Hyland
(401) 641-7757
Added: May 26
Changed: Aug 20
Last Checked: Aug 29 at 3:06PM
MLS# 1413608
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-family property, built in 1920, contains 3,146 square feet on a 0.58-acre lot. The interior includes eight bedrooms, three bathrooms, an attic, and a basement. Existing features include natural-gas heating with baseboard and central systems, mixed interior finishes, and a combination of marble, vinyl, ceramic tile, laminate, and hardwood flooring. Appliances include an oven/range and refrigerator. The property is being offered in as-is condition and requires work.
The site is served by public sewer and includes no on-site parking. A prior approval for a single-family dwelling on part of the lot expired several years ago; the current source information does not establish active development approval.
The site is served by public sewer and includes no on-site parking. A prior approval for a single-family dwelling on part of the lot expired several years ago; the current source information does not establish active development approval.
Key Highlights
- Three‑family property with 3,146 square feet
- 0.58‑acre lot with a prior single‑family dwelling approval that has expired
- Eight bedrooms and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,711
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,220
$914.2K
Cap Rate 7%
$653,014
$653.0K
Cap Rate 9%
$507,900
$507.9K
Market Conditions
NOI Build-Up for 3,146 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.8K $22.20/SF
− Vacancy
−$4.5K −$1.44/SF
EGI
$65.3K $20.76/SF
− OpEx
−$19.6K −$6.23/SF
NOI
$45.7K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,220
Cap Rate 7%
$653,014
Cap Rate 9%
$507,900
Alternative Uses
Best Use
Multifamily LT 5
$653.0K
$571.4K – $761.9K
NOI $45,711 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$599.9K
$524.9K – $699.9K
NOI $41,993 @ 7.0% cap · market cap 8.40%
Theoretical Best
Specialty Retail
$787.9K
$689.5K – $919.3K
NOI $55,156 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with three bathrooms, basement storage, and public sewer service in West Warwick.
Where is this triplex located?
The property is located at 18 West Street West Warwick, RI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Three‑family property with 3,146 square feet; 0.58‑acre lot with a prior single‑family dwelling approval that has expired; Eight bedrooms and three bathrooms
