Four-Unit Multifamily Corner
For Sale
$750,000
146 Pond Street, Pawtucket, RI 02860
Well-maintained four-unit multifamily on a highly visible corner lot with separate utilities and recent mechanical improvements.
Property Size4,799 SF
Price / SF$156.28
Days on Market68
Property Features for 146 Pond Street
General Information
Standard status
Active
Size
4,799 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
RE/MAX Platinum
(781) 484-1957
Listed By:
Scott Jones · License #REB.0019121
(781) 844-5070
Source:
Lockandkeyre
Added: Jul 22
Changed: Sep 26
Last Checked: Sep 26 at 8:37AM
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 RE/MAX Platinum
Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily building offers a total of 10 bedrooms and four full bathrooms. The property is sited on a corner lot with two addresses listed for the same building: 58 & 62 Arch Street and 146 & 148 Pond Street. Updates include a roof approximately six years old and the replacement of three of the four furnaces. Additional features include a nice-sized basement, separate utilities, and spacious apartments.
The location places the property just minutes from I-95 and the MBTA Commuter Rail, with nearby shopping, restaurants, schools, parks, and downtown Pawtucket.
The layout is configured as a four-unit income property with multiple bedrooms and full baths, supported by the recent roof and furnace improvements.
The location places the property just minutes from I-95 and the MBTA Commuter Rail, with nearby shopping, restaurants, schools, parks, and downtown Pawtucket.
The layout is configured as a four-unit income property with multiple bedrooms and full baths, supported by the recent roof and furnace improvements.
Key Highlights
- Well‑maintained 4‑unit multifamily (built 1900) with 10 bedrooms and 4 full baths
- Highly visible corner lot with two addresses: 58 & 62 Arch St and 146 & 148 Pond St
- Roof is approximately 6 years old
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
$63,416
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
8.46%
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%
$1,268,320
$1.3M
Cap Rate 7%
$905,943
$905.9K
Cap Rate 9%
$704,622
$704.6K
Market Conditions
NOI Build-Up for 4,799 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
$122.7K $25.56/SF
− Vacancy
−$7.4K −$1.53/SF
EGI
$115.3K $24.03/SF
− OpEx
−$51.9K −$10.81/SF
NOI
$63.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,268,320
Cap Rate 7%
$905,943
Cap Rate 9%
$704,622
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$998.8K – $1.33M
NOI $79,906 @ 7.0% cap · market cap 10.65%
Second Best
Apartment 5plus
$905.9K
$792.7K – $1.06M
NOI $63,416 @ 7.0% cap · market cap 8.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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?
Quadplex - Well-maintained four-unit multifamily on a highly visible corner lot with separate utilities and recent mechanical improvements.
Where is this quadplex located?
The property is located at 146 Pond Street Pawtucket, 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: Well‑maintained 4‑unit multifamily (built 1900) with 10 bedrooms and 4 full baths; Highly visible corner lot with two addresses: 58 & 62 Arch St and 146 & 148 Pond St; Roof is approximately 6 years old
