6-Unit Apartment
For Sale
$650,000
50 N Main Street, Westerly, RI 02808
Commercial/Business,Commercial Sale, Westerly, RI
Property Size3,832 SF
Lot Size0.15 Acres
Price / SF$169.62
Days on Market47
Property Features for 50 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
6
Basement
Partial
Subdivision
Bradford
Lot features
Suburban
Standard status
Active
Size
3,832 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2565
Utilities
Sewer type
Septic Tank
Heating system
Central, Forced Air
Building Details
Year built
1900
Floors in Building
2
Number of units
1
Listing Agency:
Re/Max Advantage Group · RE/MAX International
(401) 823-1500
Listed By:
Donna Kennedy · License #REB.0013385
(401) 639-6166
Added: Aug 21
Changed: Sep 21
Last Checked: Oct 6 at 9:06AM
MLS# 1421283
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.
Investment Insights
Based on property information with market context.
This apartment property contains 6 units within 3,832 square feet, including 3 studio apartments. The building dates to 1900 and includes a basement, with forced-air and central heating systems serving the property. Seller-paid services include heat, electric, and cable, creating a defined utility arrangement for the building.
The property occupies 0.15 acres at 50 N Main Street in Westerly, Rhode Island. Sewer service is provided by a septic tank. The unit count, studio mix, building area, and existing mechanical systems offer a clear framework for evaluating the property as a multifamily asset.
The property occupies 0.15 acres at 50 N Main Street in Westerly, Rhode Island. Sewer service is provided by a septic tank. The unit count, studio mix, building area, and existing mechanical systems offer a clear framework for evaluating the property as a multifamily asset.
Key Highlights
- 6‑unit apartment building with 3 studio units
- 3,832 square feet of building area on 0.15 acres
- Built in 1900 with a basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,336
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,720
$806.7K
Cap Rate 7%
$576,229
$576.2K
Cap Rate 9%
$448,178
$448.2K
Market Conditions
NOI Build-Up for 3,832 SF
Gross rent
$76.8K $20.04/SF
− Vacancy
−$3.5K −$0.90/SF
EGI
$73.3K $19.14/SF
− OpEx
−$33.0K −$8.61/SF
NOI
$40.3K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,720
Cap Rate 7%
$576,229
Cap Rate 9%
$448,178
Alternative Uses
Best Use
Apartment 5plus
$576.2K
$504.2K – $672.3K
NOI $40,336 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$765.6K
$669.9K – $893.2K
NOI $53,594 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 02808, RI
2,332
Population
1,091
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
7.6 sq mi
ZIP Area
307
Density / Sq Mi
$94,712
Median Household Income
$52,582
Median Earnings
$1,182
Median Rent
$331,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Includes three studio units with forced-air and central heating systems.
Where is this apartment building located?
The property is located at 50 N Main Street Westerly, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 6‑unit apartment building with 3 studio units; 3,832 square feet of building area on 0.15 acres; Built in 1900 with a basement
