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    98 Penn St Providence, RI 02909

    Sponsored
    For Sale
    Under Contract
    $1,800,000

    COMMERCIAL - Providence, RI

    Lot size:
    0.18 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 98 Penn St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    R-3
    Parking
    6
    Lot size
    0.18 Acres

    Building Details

    Year built
    1920
    Building materials
    Frame

    Westcott Properties Inc (401) 421-5300 [email protected]

    Listing agent Joy Riley

    Listing date Dec 23, 2025

    Copyright © 2025 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.

    Overview

    Multi-Family Investment Opportunity Providence

    This portfolio consists of three adjacent multi-family properties located on the West Side of Providence, RI. The properties offer income potential and future condo conversion possibilities. 98 Penn Street is a three-family home featuring three two-bedroom, one-bath units with hardwood floors, architectural details, and updated mechanicals. Long-term tenancy has kept rents below market. 100 Penn Street is a newer construction two-family home with modern units featuring spacious layouts and contemporary finishes. 102 Penn Street is a three-family property featuring two three-bedroom, one-bath units and one two-bedroom, one-bath unit. The building has a maintenance-free exterior, updated interiors, and ample off-street parking. The properties are located between Atwells Avenue and Broadway, providing tenants with access to downtown Providence, the East Side, hospitals, highways, and the train station. The lot size is 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.432964
    Latitude
    41.820959

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    FAQs

    What type of property is this?
    Multifamily property - Three multi-family properties with income potential in Providence, RI.
    Where is this multifamily property located?
    The property is located at 98 Penn St Providence, RI.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - Portfolio of three adjacent multi-family properties offering strong income potential.; - Immediate value-add potential due to below-market rents and long-term tenancy.; - Convenient location with easy access to downtown Providence, the East Side, hospitals, highways, and the train station.
    (401) 421-5300
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    98 Penn St Providence, RI 02909
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    Realmo Value Estimation

    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.

    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.

    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
    98 Penn St Providence, RI 02909
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