Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    84 Transit St Providence, RI 02906

    Sponsored
    For Sale
    $2,095,000

    MULTI_FAMILY - Providence, RI

    Lot size:
    0.09 Acres
    Days on Market:
    10
    Last Refresh:
    Jan 20 at 8:06 pm

    Property Features for 84 Transit St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 7, Bedroom 4, Bedroom 6, Bathroom 3, Basement, Bedroom 10, Bathroom 6, Bedroom 8, Bathroom 4, Bathroom 8, Bathroom 2, Bedroom 5, Bathroom 9, Bathroom 5, Bedroom 9, Bedroom 1, Bedroom 7, Bedroom 11, Bedroom 3, Bathroom 1, Bedroom 2
    Bedrooms
    11
    Bathrooms
    9
    Parking
    2
    Parking features
    Garage
    Appliances
    Gas Water Heater
    Lot size
    0.09 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Natural Gas

    Building Details

    Year built
    1900
    Number of units
    2
    Flooring type
    Laminate, Tile - Ceramic, Hardwood
    Building materials
    Brick, Wood

    We can help!

    Listing Contact
    Stephen Gaskin

    Residential Properties Ltd. (401) 439-7705 [email protected]

    Listing agent Stephen Gaskin (508) 991-0151

    Listing date Jan 11, 2026

    MLS# 1398126 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Providence Multifamily Investment Opportunity

    Located in the heart of Fox Point, this property features two buildings with a total of eight units. Situated steps from historic Benefit Street, it offers an investment opportunity in one of Providence's most desirable neighborhoods. The property benefits from a strong existing income stream with mostly month-to-month tenants, presenting immediate potential for improvement to enhance overall returns. Both buildings have been well maintained, providing a solid foundation for additional improvements that could further elevate value and performance. The location allows residents to enjoy easy access to all that Fox Point has to offer, along with the scenic waterfront and walking paths of India Point Park. The lot size is 0.0941 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.400827
    Latitude
    41.820602

    Nearby Similar for Sale

    • $2,975,000
      0.23 Acres

      Income-Generating Multi-Family Opportunity

      Two multi-family homes in Providence's East Side.
      134 Irving Ave, Providence, RI 02906
      View Details
    • $650,000
      Pending

      Spacious Two-Family Home in Providence

      Large two-family home in Providence's Elmwood Historic District.
      118 Moore St, Providence, RI 02907
      View Details
    • New
      $565,000
      0.14 Acres

      Elmhurst Two-Family Home

      Well-maintained two-family home in desirable Elmhurst neighborhood.
      82 Lucille St, Providence, RI 02908
      View Details
    • $1,029,900
      0.09 Acres

      Providence Multifamily Investment Opportunity

      East Side triplex near Brown University, ideal for investors.
      125 Taber Ave, Providence, RI 02906
      View Details
    • New
      $319,900
      Pending

      Providence Multifamily Renovation Opportunity

      Three-story multifamily home or single-family conversion opportunity in Providence.
      109 Somerset St, Providence, RI 02907
      View Details
    • $599,900
      0.10 Acres

      Providence Multifamily Investment Opportunity

      Well-maintained four-unit property with a mix of layouts.
      57 Fairmount Ave, Providence, RI 02908
      View Details
    • $565,000
      Pending

      Renovated Multifamily Near RI Hospital

      Completely renovated two-family property near RI Hospital and RT 95/195.
      123 Chester Ave, Providence, RI 02907
      View Details
    • $2,095,000
      0.09 Acres

      Providence Multifamily Investment Opportunity

      Eight-unit property in desirable Fox Point neighborhood, Providence.
      84 Transit St, Providence, RI 02906
      View Details
    • New
      $599,900
      0.07 Acres

      Well-Maintained Multifamily Property

      Four units, good-sized lot, off-street parking in Providence, RI.
      53 Fairmount Ave, Providence, RI 02908
      View Details
    • New
      $1,250,000
      0.12 Acres

      East Side Four-Unit Residence

      Stunning four-unit residence with city views and expansion potential.
      14 Doyle Ave, Providence, RI 02906
      View Details
    • New
      $689,000
      0.07 Acres

      New Turnkey Two-Family Home

      New construction two-family home with modern amenities in Providence, RI.
      17 Judith St, Providence, RI 02909
      View Details
    • New
      $1,395,000
      0.08 Acres

      College Hill Four-Unit Investment Property

      Four units near Prospect Street in desirable College Hill neighborhood.
      109 Bowen St, Providence, RI 02906
      View Details

    FAQs

    What type of property is this?
    Apartment building - Two-building, eight-unit property in desirable Fox Point neighborhood.
    Where is this apartment building located?
    The property is located at 84 Transit St Providence, RI.
    What is the asking price?
    The asking price for this property is $2,095,000.
    What are key features of this property?
    This property features: - Prime Fox Point location, steps from Benefit Street and close to India Point Park.; - Strong existing income stream with potential for increased returns.; - Well-maintained 8-unit property (two buildings).
    (401) 439-7705
    Request Owner's contact information
    84 Transit St Providence, RI 02906
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    84 Transit St
    Providence, RI 02906
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    84 Transit St Providence, RI 02906
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Stephen Gaskin
    Real Estate License ID: RES.0048283
    (401) 439-7705
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.