Barrington Multifamily Investment
187 Washington Road, Barrington, RI 02806
COMMERCIAL - Barrington, RI
Type:Apartment
Property size:
18,522 SFLot size:
1.01 AcresPrice / SF:
$296/SF- Added:
- Jul 15, 2025
- Days on Market:
- 306
- Last Refresh:
- May 16 at 6:06 pm
Property Features for 187 Washington Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Apartment
- Zoning
- NB-COMM
- Rooms
- Basement
- Parking
- 27
- Basement
- Full
- Standard status
- Active
- Size
- 18,522 SF
- Lot size
- 1.01 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 49346
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2008
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Brick
Listing agent Eddie Rayden (401) 439-7705
Listing office Residential Properties Ltd. 259 County Road, RI (401) 245-9600
Listing date Jul 15, 2025
MLS# 1389863
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High income‑generating investment property with great rents.
- 14 units in a highly desirable Barrington location.
- Proximity to beaches, bike path, schools, and town center.
- Mix of newer and recently converted buildings.
- Many units feature soaring ceilings, central air, and in‑unit washer/dryer.
- Convenient access to the East Bay, Providence, and Southeastern Massachusetts.
Overview
This 14-unit residential complex is located in Barrington, Rhode Island, on nearly an acre. The property includes four newer buildings, each featuring eight high-end units with two bedrooms and 2.5 baths. Additionally, there is a well-maintained building with two units, each offering two bedrooms and one bath, and a recently converted brick building consisting of four high-end two-bedroom units; two units have one bath and two units have 1.5 baths. Many units feature soaring ceilings, central air, in-unit washer and dryer, and off-street parking. The property is centrally located with proximity to the East Bay, Providence, and Southeastern Massachusetts. The property size is 18,522 square feet and the lot size is 1.0106 acres.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$3.12M
NOI $280,932 @ 9.00% cap · cautious / downside scenario
Moderate
$4.01M
NOI $280,932 @ 7.00% cap · market / base-case scenario
Aggressive
$5.62M
NOI $280,932 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $544.5k | $29.40 |
| − Vacancy | −$33.8k | −$1.82 |
| EGI | $510.8k | $27.58 |
| − OpEx | −$229.9k | −$12.41 |
| NOI | $280.9k | $15.17 |
18,522 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$4.01M
$3.51M – $4.68M
NOI $280,932 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,763 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Barrington
- County
- Bristol
- State
- Rhode Island
- Longitude
- -71.342032
- Latitude
- 41.748088
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 14-unit residential complex near beaches and town center.
Where is this apartment building located?
The property is located at 187 Washington Road Barrington, RI.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: High income‑generating investment property with great rents.; 14 units in a highly desirable Barrington location.; Proximity to beaches, bike path, schools, and town center.
