Newly Built Multifamily
314 Sayles Street, Providence, RI 02905
For Sale
New
$629,000
Each apartment has three bedrooms and one full bathroom.
Property Size2,364 SF
Price / SF$266.07
Days on Market5
Property Features for 314 Sayles Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Tenancy
Listing Agency:
SERHANT.
(401) 382-0600
Listed By:
The Duque Group
(401) 808-5611
Source:
Lockandkeyre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:28PM
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 SERHANT.
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Investment Insights
Based on property information with market context.
This newly constructed multifamily property contains 2,364 square feet. Each apartment has three bedrooms and one full bathroom, along with contemporary finishes and thoughtfully arranged floor plans. The Certificate of Occupancy has not yet been issued.
Located at 314 Sayles Street in Providence, the property offers access to major hospitals, downtown, colleges and universities, restaurants, shopping, and transportation routes.
Located at 314 Sayles Street in Providence, the property offers access to major hospitals, downtown, colleges and universities, restaurants, shopping, and transportation routes.
Key Highlights
- 2,364 square feet of multifamily space
- Year built: 2026
- Three bedrooms and one full bathroom in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,856
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,120
$717.1K
Cap Rate 7%
$512,229
$512.2K
Cap Rate 9%
$398,400
$398.4K
Market Conditions
NOI Build-Up for 2,364 SF
Gross rent
$69.5K $29.40/SF
− Vacancy
−$4.3K −$1.82/SF
EGI
$65.2K $27.58/SF
− OpEx
−$29.3K −$12.41/SF
NOI
$35.9K $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%
$717,120
Cap Rate 7%
$512,229
Cap Rate 9%
$398,400
Alternative Uses
Best Use
Apartment 5plus
$512.2K
$448.2K – $597.6K
NOI $35,856 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$790.9K
$692.0K – $922.7K
NOI $55,362 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,207
Businesses Nearby
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Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Providence, RI
Properties on Market for Multifamily properties in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Each apartment has three bedrooms and one full bathroom.
Where is this multifamily property located?
The property is located at 314 Sayles Street Providence, RI.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 2,364 square feet of multifamily space; Year built: 2026; Three bedrooms and one full bathroom in each unit
