Building Details

Year Built 1900

Listing Agency: The Mello Group, Inc. j***@yahoo.com Show Phone

Listed By: Susan Grieve · License #RES.0045467 Show Phone

Source: Lockandkeyre

Added: Sep 23 Changed: Oct 4 Last Checked: Oct 5 at 7:03PM

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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 The Mello Group, Inc.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,086

Cap Rate

6.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$981,720 $981.7K

Cap Rate 7%

$701,229 $701.2K

Cap Rate 9%

$545,400 $545.4K

Market Conditions

NOI Build-Up for 2,948 SF

Gross rent

$75.0K $25.44/SF

− Vacancy

−$4.9K −$1.65/SF

EGI

$70.1K $23.79/SF

− OpEx

−$21.0K −$7.14/SF

NOI

$49.1K $16.65/SF

Area

Providence County, RI

Vacancy

6.50%

Lease Rate

$25.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$981,720

Cap Rate 7%

$701,229

Cap Rate 9%

$545,400

Alternative Uses

Best Use

Multifamily LT 5

$701.2K

$613.6K – $818.1K (±1% cap)

NOI $49,086 @ 7.0% cap · market cap 6.38%

Second Best

Apartment 5plus

$556.5K

$487.0K – $649.3K (±1% cap)

NOI $38,956 @ 7.0% cap · market cap 5.07%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Tech Support Center (Bike/Boat/Book/etc) Store Computer & Electronic Repair Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,174

Businesses Nearby

Explore this area Business Placement

Demographics for 02860, RI

47,894

Population

21,467

Households

2.2

Avg Household Size

37

Median Age

25%

College-Educated

80%

High-School Grad

5.3 sq mi

ZIP Area

9,037

Density / Sq Mi

$59,954

Median Household Income

$42,038

Median Earnings

$1,112

Median Rent

$287,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

Where is this triplex located?

The property is located at 277 Sayles Avenue Pawtucket, RI.

What is the asking price?

The asking price for this property is $769,000.