Multifamily Property with Expansion
14 Dome Street, Providence, RI 02908
For Sale
$549,500
Approved plans allow for a new two-family building alongside the existing rental property.
Property Size2,455 SF
Price / SF$223.83
Days on Market14
Property Features for 14 Dome Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Access Realty, Inc.
Listed By:
Douglas Lopez · License RI REB.0018319
(401) 316-5754
Source:
Lockandkeyre
Added: Oct 31
Changed: Nov 12
Last Checked: Nov 12 at 8:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Access Realty, Inc.
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Investment Insights
Based on property information with market context.
The multifamily property at 14 Dome Street in Providence includes an existing rental building constructed in 1900. Plans and a survey are available for a proposed adjoining two-family building, with the combined project planned as a four-unit development. A builder with the permit is available to complete the work. Rental income is currently being collected from the existing property.
Key Highlights
- Approved permit and plans for an adjoining two‑family building
- Combined project planned as a four‑unit development
- Survey and architectural plans available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,236
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,720
$744.7K
Cap Rate 7%
$531,943
$531.9K
Cap Rate 9%
$413,733
$413.7K
Market Conditions
NOI Build-Up for 2,455 SF
Gross rent
$72.2K $29.40/SF
− Vacancy
−$4.5K −$1.82/SF
EGI
$67.7K $27.58/SF
− OpEx
−$30.5K −$12.41/SF
NOI
$37.2K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,720
Cap Rate 7%
$531,943
Cap Rate 9%
$413,733
Alternative Uses
Best Use
Apartment 5plus
$531.9K
$465.5K – $620.6K
NOI $37,236 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$821.3K
$718.7K – $958.2K
NOI $57,493 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
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Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Providence, RI
Properties on Market for Multifamily properties in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Approved plans allow for a new two-family building alongside the existing rental property.
Where is this multifamily property located?
The property is located at 14 Dome Street Providence, RI.
What is the asking price?
The asking price for this property is $549,500.
What are key features of this property?
This property features: Approved permit and plans for an adjoining two‑family building; Combined project planned as a four‑unit development; Survey and architectural plans available
