Waterfront Multifamily
For Sale
Contact for pricing
4 LAKE AVE, Tiverton, RI 02878
Waterfront setting near local beaches, marinas, dining, and coastal attractions.
Property Size1,906 SF
Price / SF$314.27
Days on Market118
Property Features for 4 LAKE AVE
General Information
Standard status
Active
Size
1,906 SF
Property subtype
Multifamily
Zoning
R-60
Building Details
Year Built
1930
Buildings
1
Stories
1
Units
1
Listing Agency:
Keller Williams Coastal - Warwick
(401) 845-9200
Listed By:
Isabel Garcia · License #RI
Source:
Crexi
Added: May 5
Changed: Aug 29
Last Checked: Aug 29 at 11:45PM
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 Keller Williams Coastal - Warwick
Investment Insights
Based on property information with market context.
This multifamily property at 4 Lake Ave in Tiverton, Rhode Island, offers a waterfront setting with access to the area’s coastal amenities. The property was built in 1930 and carries R-60 zoning.
Local beaches, marinas, dining, and major coastal attractions are identified nearby, combining a residential setting with access to established waterfront destinations.
Local beaches, marinas, dining, and major coastal attractions are identified nearby, combining a residential setting with access to established waterfront destinations.
Key Highlights
- Waterfront multifamily property at 4 Lake Ave, Tiverton, RI
- Built in 1930
- R‑60 zoning
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
$28,312
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
4.73%
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%
$566,240
$566.2K
Cap Rate 7%
$404,457
$404.5K
Cap Rate 9%
$314,578
$314.6K
Market Conditions
NOI Build-Up for 1,906 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
$55.4K $29.04/SF
− Vacancy
−$3.9K −$2.03/SF
EGI
$51.5K $27.01/SF
− OpEx
−$23.2K −$12.15/SF
NOI
$28.3K $14.85/SF
Area
Newport County, RI
Vacancy
7.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
45.00%
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%
$566,240
Cap Rate 7%
$404,457
Cap Rate 9%
$314,578
Alternative Uses
Best Use
Apartment 5plus
$404.5K
$353.9K – $471.9K
NOI $28,312 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$454.8K
$397.9K – $530.6K
NOI $31,834 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 02878, RI
16,359
Population
7,747
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
29.1 sq mi
ZIP Area
562
Density / Sq Mi
$99,542
Median Household Income
$49,228
Median Earnings
$1,228
Median Rent
$367,400
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?
Multifamily property - Waterfront setting near local beaches, marinas, dining, and coastal attractions.
Where is this multifamily property located?
The property is located at 4 LAKE AVE Tiverton, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Waterfront multifamily property at 4 Lake Ave, Tiverton, RI; Built in 1930; R‑60 zoning
