For Sale
$574,900
Pending
15 Danby Street, Providence, RI 02904
Multifamily properties
Property Size1,538 SF
Days on Market53
Property Features for 15 Danby Street
General Information
Standard status
Pending
Size
1,538 SF
Property subtype
Multi-Family
Building Details
Building Size
1,538 SF
Year Built
1930
Stories
3
Listing Agency:
JPAR Prime Real Estate
Listed By:
Paula Decubellis · License #RES.0041983
(401) 785-1700
Source:
Dawnmarano.kw
Added: Aug 27
Changed: Oct 5
Last Checked: Oct 16 at 5:52AM
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 JPAR Prime Real Estate
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,328
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,560
$466.6K
Cap Rate 7%
$333,257
$333.3K
Cap Rate 9%
$259,200
$259.2K
Market Conditions
NOI Build-Up for 1,538 SF
Gross rent
$45.2K $29.40/SF
− Vacancy
−$2.8K −$1.82/SF
EGI
$42.4K $27.58/SF
− OpEx
−$19.1K −$12.41/SF
NOI
$23.3K $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%
$466,560
Cap Rate 7%
$333,257
Cap Rate 9%
$259,200
Alternative Uses
Best Use
Apartment 5plus
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.5K
$450.2K – $600.3K
NOI $36,018 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
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
Frequently Asked Questions
Where is this multifamily property located?
The property is located at 15 Danby Street Providence, RI.
What is the asking price?
The asking price for this property is $574,900.
