5-Unit Apartment
New
For Sale
$750,000
214 Estes Street, Woonsocket, RI 02895
Commercial/Business,Commercial Sale, Woonsocket, RI
Property Size4,194 SF
Lot Size0.24 Acres
Price / SF$178.83
Days on Market6
Property Features for 214 Estes Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
r4
Rooms
Basement
Parking
6
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Subdivision
Blackstone Line
Lot features
Fenced, Paved, Sidewalks, Free Standing
Standard status
Active
Size
4,194 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10454
Utilities
Heating system
Zoned, Baseboard, Natural Gas, Space Heater
Amenities
hardwood floors
basement laundry
separate storage units
outbuilding
fenced yard
Building Details
Year built
1916
Floors in Building
3
Number of units
2
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
The Stearns McGee Team · License #S32155
(401) 356-1519
Added: Oct 6
Last Checked: Oct 11 at 3:06AM
MLS# 1425196
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.
Investment Insights
Based on property information with market context.
This 4,194-square-foot apartment building contains five units: a first-floor residence with seven rooms and four to five bedrooms, two two-bedroom apartments, and two one-bedroom apartments. Hardwood flooring is present throughout. Basement space includes laundry facilities and individual storage areas, and the property also has an outbuilding and a fenced yard.
The 0.24-acre site includes paved parking for six cars. Zoned R4, the building was constructed in 1916. Heating includes zoned baseboard, natural gas, and space-heater systems.
The 0.24-acre site includes paved parking for six cars. Zoned R4, the building was constructed in 1916. Heating includes zoned baseboard, natural gas, and space-heater systems.
Key Highlights
- Five‑unit building with one 4/5‑bedroom residence, two 2‑bedroom apartments, and two 1‑bedroom apartments
- 4,194 square feet on a 0.24‑acre parcel
- Paved driveway parking for 6 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,422
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,108,440
$1.1M
Cap Rate 7%
$791,743
$791.7K
Cap Rate 9%
$615,800
$615.8K
Market Conditions
NOI Build-Up for 4,194 SF
Gross rent
$107.2K $25.56/SF
− Vacancy
−$6.4K −$1.53/SF
EGI
$100.8K $24.03/SF
− OpEx
−$45.3K −$10.81/SF
NOI
$55.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,108,440
Cap Rate 7%
$791,743
Cap Rate 9%
$615,800
Alternative Uses
Best Use
Apartment 5plus
$791.7K
$692.8K – $923.7K
NOI $55,422 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$997.6K
$872.9K – $1.16M
NOI $69,832 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Five residences have separate utilities, with shared laundry and storage in the basement.
Where is this apartment building located?
The property is located at 214 Estes Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five‑unit building with one 4/5‑bedroom residence, two 2‑bedroom apartments, and two 1‑bedroom apartments; 4,194 square feet on a 0.24‑acre parcel; Paved driveway parking for 6 cars
