Updated Triplex With Detached
For Sale
$750,000
39 Pike Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size3,244 SF
Lot Size0.16 Acres
Price / SF$231.20
Days on Market38
Property Features for 39 Pike Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CI
Bedrooms
10
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 10, Bathroom 1, Bathroom 3, Bedroom 9, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4, Basement, Bedroom 7, Bedroom 6
Parking
8
Interior features
Attic, Attic Stairs, Stairs, Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Gas Water Heater
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
3,244 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7027
Utilities
Heating system
Central, Natural Gas, Baseboard
Cooling system
Wall Unit(s), Central Air
Amenities
basement storage with washer/dryer hookups
solar panels
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Laminate, Tile - Ceramic
Building materials
Vinyl Siding
Listing Agency:
Family First Realty Ri, Llc
(401) 385-3630
Listed By:
Michele Stevenin
(401) 640-1907
Added: Jul 27
Changed: Sep 1
Last Checked: Sep 2 at 3:06PM
MLS# 1419051
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-unit residential property combines recent interior and exterior improvements with practical features for rental use or owner occupancy. The 3,244-square-foot building includes updated kitchens, refreshed flooring, a newer roof, and solar panels. Each unit has separate utilities, individual basement storage, and washer and dryer hookups. Interior finishes include hardwood, laminate, and ceramic tile, with natural-gas baseboard and central heating plus central air and wall-unit cooling.
The property occupies 0.16 acres in West Warwick, with an oversized detached two-car garage and off-street parking for multiple vehicles. Additional street parking is available. Shopping, restaurants, highways, and local amenities are nearby. Built in 1900 and designated CI, the property also includes vinyl siding, a gas water heater, attic storage, and attic stairs.
The property occupies 0.16 acres in West Warwick, with an oversized detached two-car garage and off-street parking for multiple vehicles. Additional street parking is available. Shopping, restaurants, highways, and local amenities are nearby. Built in 1900 and designated CI, the property also includes vinyl siding, a gas water heater, attic storage, and attic stairs.
Key Highlights
- Three‑unit property with 3,244 square feet of building area
- 0.16‑acre parcel in West Warwick, RI
- Updated kitchens, flooring, roof, and solar panels
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
$47,135
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
6.28%
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%
$942,700
$942.7K
Cap Rate 7%
$673,357
$673.4K
Cap Rate 9%
$523,722
$523.7K
Market Conditions
NOI Build-Up for 3,244 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
$72.0K $22.20/SF
− Vacancy
−$4.7K −$1.44/SF
EGI
$67.3K $20.76/SF
− OpEx
−$20.2K −$6.23/SF
NOI
$47.1K $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%
$942,700
Cap Rate 7%
$673,357
Cap Rate 9%
$523,722
Alternative Uses
Best Use
Multifamily LT 5
$673.4K
$589.2K – $785.6K
NOI $47,135 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$618.6K
$541.3K – $721.7K
NOI $43,301 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$812.5K
$710.9K – $947.9K
NOI $56,874 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
470
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
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated kitchens, separate utilities, and individual basement storage support flexible multifamily operations.
Where is this triplex located?
The property is located at 39 Pike Street West Warwick, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑unit property with 3,244 square feet of building area; 0.16‑acre parcel in West Warwick, RI; Updated kitchens, flooring, roof, and solar panels
