Three-Unit Multifamily
For Sale
$749,000
73 Trenton St, Providence, RI 02906
Delivered vacant with an established three-unit configuration in Providence’s Fox Point neighborhood.
Property Size2,285 SF
Price / SF$327.79
Days on Market42
Property Features for 73 Trenton St
General Information
Standard status
Active
Size
2,285 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
CENTURY 21 Gonsalves - Pastore
(401) 728-2770
Listed By:
Justin Freitas
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 9:02PM
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 CENTURY 21 Gonsalves - Pastore
Investment Insights
Based on property information with market context.
Built in 1930, this 2,285 SF multifamily property is currently arranged as three units and will be delivered fully vacant. The vacant delivery allows the next owner to determine future tenant placement, parking arrangements, and rents. Public records identify the property as a four-family residence, while its current use is three units.
The property is located in Fox Point at 73 Trenton St, Providence, RI 02906. Highway access connects the property with the Jewelry District and East Providence, while Brown University and RISD are also nearby. Water and amenities along Wickenden St are within a short walk. The property has been owner occupied for more than 50 years.
The property is located in Fox Point at 73 Trenton St, Providence, RI 02906. Highway access connects the property with the Jewelry District and East Providence, while Brown University and RISD are also nearby. Water and amenities along Wickenden St are within a short walk. The property has been owner occupied for more than 50 years.
Key Highlights
- Currently configured as a 3‑unit multifamily property
- 2,285 SF property built in 1930
- Delivered fully vacant
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
$38,585
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
5.15%
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%
$771,700
$771.7K
Cap Rate 7%
$551,214
$551.2K
Cap Rate 9%
$428,722
$428.7K
Market Conditions
NOI Build-Up for 2,285 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
$59.0K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$55.1K $24.12/SF
− OpEx
−$16.5K −$7.24/SF
NOI
$38.6K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /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%
$771,700
Cap Rate 7%
$551,214
Cap Rate 9%
$428,722
Alternative Uses
Best Use
Multifamily LT 5
$551.2K
$482.3K – $643.1K
NOI $38,585 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$495.1K
$433.2K – $577.6K
NOI $34,658 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,512 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Delivered vacant with an established three-unit configuration in Providence’s Fox Point neighborhood.
Where is this triplex located?
The property is located at 73 Trenton St Providence, RI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Currently configured as a 3‑unit multifamily property; 2,285 SF property built in 1930; Delivered fully vacant
