For Sale
$1,600,000
15 Emmett St, Providence, RI 02903
Triplexes
Property Size6,096 SF
Price / SF$262.47
Days on Market153
Property Features for 15 Emmett St
General Information
Standard status
Active
Size
6,096 SF
Building Details
Year Built
1904
Listing Agency:
RE/MAX Revolution
Listed By:
Michael Alves · License #REB.0014141
(401) 333-4900
Source:
Alpernandmesenbourg
Added: May 16
Changed: Oct 5
Last Checked: Oct 7 at 5:41PM
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 Revolution
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,938
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,058,760
$2.1M
Cap Rate 7%
$1,470,543
$1.5M
Cap Rate 9%
$1,143,756
$1.1M
Market Conditions
NOI Build-Up for 6,096 SF
Gross rent
$157.3K $25.80/SF
− Vacancy
−$10.2K −$1.68/SF
EGI
$147.1K $24.12/SF
− OpEx
−$44.1K −$7.24/SF
NOI
$102.9K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,058,760
Cap Rate 7%
$1,470,543
Cap Rate 9%
$1,143,756
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $102,938 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,461 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,761 @ 7.0% cap · market cap 8.92%
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
5,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this triplex located?
The property is located at 15 Emmett St Providence, RI.
What is the asking price?
The asking price for this property is $1,600,000.
