Mixed-Use Building in Providence,
374 Wickenden Street, Providence, RI 02903
MULTI_FAMILY - Providence, RI
Type:Apartment
Property size:
5,735 SFLot size:
0.06 AcresPrice / SF:
$287/SF- Added:
- Feb 2, 2026
- Days on Market:
- 102
- Last Refresh:
- May 15 at 9:06 pm
Property Features for 374 Wickenden Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- C2
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 1, Basement, Bedroom 2, Bedroom 7, Bedroom 6
- Parking features
- Garage
- Interior features
- Wall (Cermaic), Wall (Dry Wall), Cathedral Ceilings, Stairs, Plumbing (Mixed), Insulation (Walls)
- Basement
- Storage Space, Unfinished, Full
- Appliances
- Gas Water Heater, Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 5,735 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 18500
Utilities
- Heating system
- Forced Air, Natural Gas, Central
- Cooling system
- Central Air
Building Details
- Year built
- 1900
- Floors in Building
- 5
- Number of units
- 3
- Flooring type
- Hardwood, Tile - Ceramic
- Building materials
- Ceramic, Dry Wall, Vinyl Siding
Listing agent Jeremiah Blum (401) 207-3329
Listing office William Raveis Inspire 201 Wayland Avenue, #8, Providence, RI (401) 751-8100
Listing date Feb 2, 2026
MLS# 1404249
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully rented residential units until May 31, 2027, providing guaranteed income.
- Long‑standing and popular pizza place on the first floor with a NNN lease, contributing to income and covering a third of owner's expenses with annual 2% rent increase.
- Fully renovated to the studs within the last ten years, suggesting modern amenities and reduced maintenance.
- Proven investment with virtually no vacancy during current ownership, indicating high demand and profitability.
- Each residential unit features central air, in‑unit laundry, and modern kitchens and bathrooms, appealing to tenants.
- Prime location with easy access to Downtown Providence, interstates, Brown University, and RISD, attracting both residential and commercial tenants.
Overview
This mixed-use building is located in Providence, RI, and features fully rented residential units until May 31, 2027, along with a popular pizza place on the first floor operating under a NNN lease. The property was fully renovated to the studs within the last ten years by the previous owner. The building has a low vacancy rate under the current ownership. The residential component includes a 3-bed, 1-bath unit on the second floor, and a 4-bed, 2-bath townhouse spanning the third and fourth floors. Each residential unit is equipped with central air conditioning, in-unit laundry facilities, and modern kitchens and bathrooms. The restaurant tenant contributes to one-third of the owner's expenses and is subject to an annual rent increase of 2%. The property has a lot size of 0.06 acres and a building size of 5,735 square feet. There is no parking available on site. The property's location provides easy access to Downtown Providence and interstates, and is a short distance from Brown University and RISD campuses, making it an attractive rental location and supporting a thriving restaurant business. The property is zoned C2. This property is a solid investment with a low vacancy rate and low maintenance costs.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.13M
NOI $101,790 @ 9.00% cap · cautious / downside scenario
Moderate
$1.45M
NOI $101,790 @ 7.00% cap · market / base-case scenario
Aggressive
$2.04M
NOI $101,790 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.1k | $24.60 |
| − Vacancy | −$5.4k | −$0.93 |
| EGI | $135.7k | $23.67 |
| − OpEx | −$33.9k | −$5.92 |
| NOI | $101.8k | $17.75 |
5,735 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.45M
$1.27M – $1.70M
NOI $101,790 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,985 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,307 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Pizza Pie-er
Restaurant
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.395858
- Latitude
- 41.819842
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Fully rented mixed-use building with long-term tenants in prime location.
Where is this mixed-use property located?
The property is located at 374 Wickenden Street Providence, RI.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully rented residential units until May 31, 2027, providing guaranteed income.; Long‑standing and popular pizza place on the first floor with a NNN lease, contributing to income and covering a third of owner's expenses with annual 2% rent increase.; Fully renovated to the studs within the last ten years, suggesting modern amenities and reduced maintenance.
