Renovated
For Sale
$1,200,000
25 Sessions Street, Providence, RI 02906
Three updated apartments feature modern kitchens, refreshed bathrooms, and upgraded mechanical and electrical systems.
Property Size3,900 SF
Price / SF$307.69
Days on Market8
Property Features for 25 Sessions Street
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Westcott Properties
Listed By:
Melissa Riley
(401) 274-6740
Source:
Residentialproperties
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 10:00AM
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 Westcott Properties
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains more than 3,900 square feet of renovated living space across three apartments. The first-floor residence includes two bedrooms, a mud room or office, nine-foot ceilings, and a double living room. The second-floor unit offers three bedrooms and a double living room, while the third-floor apartment has two bedrooms and a functional layout.
Recent work includes remodeled kitchens with quartz counters and stainless steel appliances, updated bathrooms, new flooring, fresh paint, new plaster, and modern lighting. Building systems have also been improved with three updated boilers, three updated water heaters, new plumbing and water lines, a copper water service, and a PVC main stack. Electrical upgrades include a new 200-amp three-meter service with surge protection and three new 100-amp panels.
The property is located at 25 Sessions Street on Providence’s East Side, near Brown Stadium, Brown University, Blackstone Boulevard, Thayer Street, and downtown Providence.
Recent work includes remodeled kitchens with quartz counters and stainless steel appliances, updated bathrooms, new flooring, fresh paint, new plaster, and modern lighting. Building systems have also been improved with three updated boilers, three updated water heaters, new plumbing and water lines, a copper water service, and a PVC main stack. Electrical upgrades include a new 200-amp three-meter service with surge protection and three new 100-amp panels.
The property is located at 25 Sessions Street on Providence’s East Side, near Brown Stadium, Brown University, Blackstone Boulevard, Thayer Street, and downtown Providence.
Key Highlights
- Over 3,900 square feet of renovated living space across three apartments
- Unit mix includes two‑bedroom, three‑bedroom, and two‑bedroom apartments
- New 200‑amp three‑meter electrical service with surge protection
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
$65,856
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
5.49%
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%
$1,317,120
$1.3M
Cap Rate 7%
$940,800
$940.8K
Cap Rate 9%
$731,733
$731.7K
Market Conditions
NOI Build-Up for 3,900 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
$100.6K $25.80/SF
− Vacancy
−$6.5K −$1.68/SF
EGI
$94.1K $24.12/SF
− OpEx
−$28.2K −$7.24/SF
NOI
$65.9K $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 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%
$1,317,120
Cap Rate 7%
$940,800
Cap Rate 9%
$731,733
Alternative Uses
Best Use
Multifamily LT 5
$940.8K
$823.2K – $1.10M
NOI $65,856 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$845.0K
$739.4K – $985.9K
NOI $59,153 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,333 @ 7.0% cap · market cap 7.61%
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
996
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
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 - Three updated apartments feature modern kitchens, refreshed bathrooms, and upgraded mechanical and electrical systems.
Where is this triplex located?
The property is located at 25 Sessions Street Providence, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Over 3,900 square feet of renovated living space across three apartments; Unit mix includes two‑bedroom, three‑bedroom, and two‑bedroom apartments; New 200‑amp three‑meter electrical service with surge protection
