Remodeled Triplex with
For Sale
$875,000
16 Deborah St, Providence, RI 02909
Vacant multifamily property with updated interiors, off-street parking, and a detached garage.
Property Size3,463 SF
Price / SF$252.67
Days on Market18
Property Features for 16 Deborah St
General Information
Standard status
Active
Size
3,463 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1898
Buildings
1
Listing Agency:
RE/MAX Impact
(508) 717-3070
Listed By:
Jonathan Wojtowicz · License #451503440
Source:
Alpernandmesenbourg
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 9:09AM
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 Impact
Investment Insights
Based on property information with market context.
Built in 1898, this three-family property has been remodeled with contemporary finishes throughout and is being offered vacant. The configuration includes two three-bedroom units and a larger third unit described with a five-bedroom option. Off-street parking and a detached two-car garage provide added on-site functionality.
The property is located in Providence’s Silver Lake neighborhood, with access to downtown Providence, major highways, public transportation, dining, shopping, and entertainment. Its existing multifamily layout and vacant delivery provide flexibility for an owner-occupant or investor, subject to the buyer’s intended use.
The property is located in Providence’s Silver Lake neighborhood, with access to downtown Providence, major highways, public transportation, dining, shopping, and entertainment. Its existing multifamily layout and vacant delivery provide flexibility for an owner-occupant or investor, subject to the buyer’s intended use.
Key Highlights
- Three‑family property built in 1898
- Remodeled interiors with fresh, modern finishes
- Two 3‑bedroom units
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
$58,477
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
6.68%
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%
$1,169,540
$1.2M
Cap Rate 7%
$835,386
$835.4K
Cap Rate 9%
$649,744
$649.7K
Market Conditions
NOI Build-Up for 3,463 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
$89.3K $25.80/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$83.5K $24.12/SF
− OpEx
−$25.1K −$7.24/SF
NOI
$58.5K $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 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%
$1,169,540
Cap Rate 7%
$835,386
Cap Rate 9%
$649,744
Alternative Uses
Best Use
Multifamily LT 5
$835.4K
$731.0K – $974.6K
NOI $58,477 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$750.4K
$656.6K – $875.4K
NOI $52,525 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,099 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Vacant multifamily property with updated interiors, off-street parking, and a detached garage.
Where is this triplex located?
The property is located at 16 Deborah St Providence, RI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three‑family property built in 1898; Remodeled interiors with fresh, modern finishes; Two 3‑bedroom units
