Triplex with Separate
New
For Sale
$599,900
7 Broad Street, Warwick, RI 02888
Residential Income, Warwick, RI
Property Size3,824 SF
Lot Size0.16 Acres
Price / SF$156.88
Days on Market6
Property Features for 7 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
6
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Storage Space, Unfinished
Appliances
Dishwasher, Range Hood, Oven, Range, Refrigerator, Gas Water Heater
Subdivision
Norwood
Lot features
Corner Lot
Standard status
Active
Size
3,824 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5719
Utilities
Heating system
Steam, Natural Gas, Space Heater
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Plaster, Aluminum Siding
Listing Agency:
Re/Max One · RE/MAX International
(401) 943-6111
Listed By:
Jay Rezendes · License #RES.0035367
(401) 639-3914
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 6 at 6:06AM
MLS# 1424884
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 3,824-square-foot triplex in Warwick contains three apartments, each with its own heating system, electrical panel, hot-water tank, and washer and dryer hookups. The first-floor apartment is to be vacant at closing. Interior features include hardwood flooring, three bathrooms, and a walkout basement. The third-floor unit has sloped ceilings and uses space heaters to supplement its heat.
Built in 1900, the property sits on a 0.16-acre lot. Heating includes steam on the first and second floors, alongside natural gas and space heaters elsewhere. The three hot-water tanks are listed at 8, 2, and 1 years old.
Built in 1900, the property sits on a 0.16-acre lot. Heating includes steam on the first and second floors, alongside natural gas and space heaters elsewhere. The three hot-water tanks are listed at 8, 2, and 1 years old.
Key Highlights
- Three apartments in a 3,824‑square‑foot building
- First‑floor apartment scheduled to be vacant at closing
- Separate heating systems, electrical panels, and hot‑water tanks for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,043
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,860
$1.0M
Cap Rate 7%
$729,186
$729.2K
Cap Rate 9%
$567,144
$567.1K
Market Conditions
NOI Build-Up for 3,824 SF
Gross rent
$99.6K $26.04/SF
− Vacancy
−$6.8K −$1.77/SF
EGI
$92.8K $24.27/SF
− OpEx
−$41.8K −$10.92/SF
NOI
$51.0K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,860
Cap Rate 7%
$729,186
Cap Rate 9%
$567,144
Alternative Uses
Best Use
Multifamily LT 5
$793.7K
$694.5K – $926.0K
NOI $55,562 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$729.2K
$638.0K – $850.7K
NOI $51,043 @ 7.0% cap · market cap 8.51%
Theoretical Best
Specialty Retail
$957.7K
$838.0K – $1.12M
NOI $67,042 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 02888, RI
19,578
Population
9,117
Households
2.1
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
5.9 sq mi
ZIP Area
3,318
Density / Sq Mi
$88,750
Median Household Income
$55,561
Median Earnings
$1,218
Median Rent
$318,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments have individual heating, electrical, and hot-water systems, with washer and dryer hookups in each unit.
Where is this triplex located?
The property is located at 7 Broad Street Warwick, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Three apartments in a 3,824‑square‑foot building; First‑floor apartment scheduled to be vacant at closing; Separate heating systems, electrical panels, and hot‑water tanks for each unit
