Triplex with Separate
For Sale
Contact for pricing
345 Pleasant Street, Pawtucket, RI 02860
Three residential units offer separate utilities and access to a private rear green space.
Property Size2,314 SF
Price / SF$194.43
Days on Market180
Property Features for 345 Pleasant Street
General Information
Standard status
Active
Size
2,314 SF
Property subtype
Mixed Use
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
private green space
Building Details
Year Built
1880
Listing Agency:
Your Home Sold Guaranteed Realty, The Nathan Clark Team
Listed By:
Nathan Clark Team
Source:
Crexi
Added: Mar 5
Changed: Aug 31
Last Checked: Aug 29 at 1:56PM
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 Your Home Sold Guaranteed Realty, The Nathan Clark Team
Investment Insights
Based on property information with market context.
Located at 345 Pleasant Street in Pawtucket, Rhode Island, this multifamily property contains three residential units within a building constructed in 1880. Each unit is configured with two bedrooms and one bathroom, providing a consistent layout across the property. The building contains 2,314 square feet and includes separate utilities for each unit.
Outdoor space is provided by a private rear area with mature fruit trees. The property also offers access to nearby charter schools and highways, supporting convenient connections within the surrounding area. Its three-unit configuration may accommodate investment ownership or an owner-occupant arrangement, as explicitly positioned in the property information.
Outdoor space is provided by a private rear area with mature fruit trees. The property also offers access to nearby charter schools and highways, supporting convenient connections within the surrounding area. Its three-unit configuration may accommodate investment ownership or an owner-occupant arrangement, as explicitly positioned in the property information.
Key Highlights
- Three‑unit multifamily property with three 2‑bedroom, 1‑bath units
- Separate utilities serve each residential unit
- 2,314 square feet in a building constructed in 1880
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
$38,529
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
8.56%
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%
$770,580
$770.6K
Cap Rate 7%
$550,414
$550.4K
Cap Rate 9%
$428,100
$428.1K
Market Conditions
NOI Build-Up for 2,314 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
$58.9K $25.44/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$55.0K $23.79/SF
− OpEx
−$16.5K −$7.14/SF
NOI
$38.5K $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 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%
$770,580
Cap Rate 7%
$550,414
Cap Rate 9%
$428,100
Alternative Uses
Best Use
Multifamily LT 5
$550.4K
$481.6K – $642.2K
NOI $38,529 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$436.8K
$382.2K – $509.6K
NOI $30,578 @ 7.0% cap · market cap 6.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,400
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
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 residential units offer separate utilities and access to a private rear green space.
Where is this triplex located?
The property is located at 345 Pleasant Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Three‑unit multifamily property with three 2‑bedroom, 1‑bath units; Separate utilities serve each residential unit; 2,314 square feet in a building constructed in 1880
