Three-Unit Residential
For Sale
$599,000
200 Admiral Street, Providence, RI 02908
Each apartment has two bedrooms, with separate utilities paid by residents.
Property Size3,456 SF
Price / SF$173.32
Days on Market70
Property Features for 200 Admiral Street
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Charles
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,932
Amenities
basement storage
off street parking
Building Details
Building Size
3,456 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Cote Partners Realty
Listed By:
James Hall · License #RES.0045424
(401) 639-9953
Source:
Jameshallrealestate
Added: Aug 20
Changed: Oct 27
Last Checked: Oct 27 at 3:43AM
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 Cote Partners Realty
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Investment Insights
Based on property information with market context.
This legal triplex contains three apartments, each with two bedrooms, within a 3,456-square-foot building constructed in 1900. Improvements include replacement windows, updated gas heating, hot water and electrical systems, plus basement storage. The exterior is described as low maintenance, and the property meets fire code requirements.
Residents pay for their own utilities. The apartments are occupied on month-to-month tenancies. Off-street parking is available, along with overnight street parking. RIPTA bus routes, highways, Providence College, Federal Hill and Downtown Providence are cited as nearby transportation and destination options.
Residents pay for their own utilities. The apartments are occupied on month-to-month tenancies. Off-street parking is available, along with overnight street parking. RIPTA bus routes, highways, Providence College, Federal Hill and Downtown Providence are cited as nearby transportation and destination options.
Key Highlights
- Three legal apartments, each configured with two bedrooms
- 3,456‑square‑foot building dating to 1900
- Updated gas heat, hot water and electrical systems; replacement windows throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,419
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,048,380
$1.0M
Cap Rate 7%
$748,843
$748.8K
Cap Rate 9%
$582,433
$582.4K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$101.6K $29.40/SF
− Vacancy
−$6.3K −$1.82/SF
EGI
$95.3K $27.58/SF
− OpEx
−$42.9K −$12.41/SF
NOI
$52.4K $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%
$1,048,380
Cap Rate 7%
$748,843
Cap Rate 9%
$582,433
Alternative Uses
Best Use
Multifamily LT 5
$833.7K
$729.5K – $972.6K
NOI $58,358 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$748.8K
$655.2K – $873.7K
NOI $52,419 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,935 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,321
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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
What type of property is this?
Triplex - Each apartment has two bedrooms, with separate utilities paid by residents.
Where is this triplex located?
The property is located at 200 Admiral Street Providence, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three legal apartments, each configured with two bedrooms; 3,456‑square‑foot building dating to 1900; Updated gas heat, hot water and electrical systems; replacement windows throughout
