Building Details

Year Built 1800

Listing Agency: RESIDENTIAL PROPERTIES LTD. Show Phone

Listed By: EDDIE RAYDEN Show Phone

Source: Corcoran

Added: Sep 30, 2025 Changed: Oct 6 Last Checked: Oct 19 at 6:51AM

Report an Issue

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 RESIDENTIAL PROPERTIES LTD.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This multi-unit property is located at 323-329 Wickenden Street (AKA 15 Thompson) in Fox Point, near College Hill. The property is situated close to coffee shops, restaurants, India Point Park's waterfront, Brown University, RISD, and hospitals. It consists of five units: two, three, and four-bedroom units. The property is zoned as a three-family dwelling, office unit, and arts studio unit. Trader Joe's is located at the end of the street, and Whole Foods is a few blocks away. Originally built circa 1798 as a double house known as the Isaac Peck House. Residents can enjoy WaterFire and ferry service to Newport in the summer. The property is less than a mile from downtown Providence, the Amtrak Train Station, and major interstates. The property size is 5470 square feet.

Key Highlights

• Prime location in Fox Point, near Brown University, RISD, India Point Park, and hospitals.
• Multi‑unit property with 5 total units (2, 3, and 4 bedroom configurations).
• Convenient access to coffee shops, trending restaurants, Trader Joe's, and Whole Foods.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$82,966

Cap Rate

5.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,659,320 $1.7M

Cap Rate 7%

$1,185,229 $1.2M

Cap Rate 9%

$921,844 $921.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,470 SF

Gross rent

$160.8K $29.40/SF

− Vacancy

−$10.0K −$1.82/SF

EGI

$150.8K $27.58/SF

− OpEx

−$67.9K −$12.41/SF

NOI

$83.0K $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%

$1,659,320

Cap Rate 7%

$1,185,229

Cap Rate 9%

$921,844

Alternative Uses

Best Use

Apartment 5plus

$1.19M

$1.04M – $1.38M (±1% cap)

NOI $82,966 @ 7.0% cap · market cap 5.19%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.83M

$1.60M – $2.14M (±1% cap)

NOI $128,101 @ 7.0% cap · market cap 8.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Location Intelligence

Trade Area within ½ mile

1,411

Businesses Nearby

Explore this area Business Placement

Demographics for 02903, RI

13,264

Population

6,588

Households

2

Avg Household Size

33

Median Age

53%

College-Educated

89%

High-School Grad

1.7 sq mi

ZIP Area

7,802

Density / Sq Mi

$62,987

Median Household Income

$40,294

Median Earnings

$1,640

Median Rent

$365,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Furnished Apartment Building

67 Ridge Street, Providence, RI 02909

$1,500,000

5,653 SF

View details

Victorian Apartment Building

5 Hillside Avenue, Providence, RI 02906

$1,690,000

5,961 SF

View details

Fox Point Multifamily Investment Opportunity

84 Transit Street, Providence, RI 02906

$1,495,000

6,188 SF

View details

Remodeled 6-Unit Apartment Building

109 Sutton Street, Providence, RI 02903

$1,150,000

4,900 SF

View details

Six-Unit Multifamily Property

85 Governor St, Providence, RI 02906

$1,499,000

4,257 SF

View details

6-Unit Apartment Property

84 Doyle Avenue, Providence, RI 02906

$1,195,000

6,293 SF

View details

Turnkey 7-Unit Multifamily Compound

23 Whitehall, Providence, RI 02909

$999,000

4,589 SF

View details

13-Unit Brick Apartment Building

110 Benefit Street, Providence, RI 02903

$2,100,000

8,718 SF

View details

Brick 8-Unit Apartment Building

100 Bowen Street, Providence, RI 02906

$2,650,000

7,800 SF

View details

Brick Apartment Building with Fireplaces

100 Bowen #8 units, Providence, RI 02906

$2,650,000

7,800 SF

View details

Renovated Historic Apartment Building

215 Broadway, Providence, RI 02903

$2,950,000

7,600 SF

View details

9-Unit Two-Building Apartment Property

8 Cole Avenue, Providence, RI 02906

$2,750,000

8,738 SF

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Multi-unit property near Brown University, RISD, and India Point Park.

Where is this apartment building located?

The property is located at 323 Wickenden Providence, RI.

What is the asking price?

The asking price for this property is $1,599,000.

What are key features of this property?

This property features: Prime location in Fox Point, near Brown University, RISD, India Point Park, and hospitals.; Multi‑unit property with 5 total units (2, 3, and 4 bedroom configurations).; Convenient access to coffee shops, trending restaurants, Trader Joe's, and Whole Foods.