Five-Unit Apartment
For Sale
$799,900
Pending
8 King Street, Pawtucket, RI 02860
Commercial/Business,Commercial Sale, Pawtucket, RI
Property Size4,550 SF
Lot Size0.11 Acres
Days on Market120
Property Features for 8 King Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
5
Basement
Full
Lot features
Free Standing
Standard status
Pending
Size
4,550 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9571
Utilities
Heating system
Natural Gas, Baseboard
Amenities
updated parking facilities
Building Details
Year built
1920
Floors in Building
3
Number of units
1
Building materials
Frame
Listing Agency:
Century 21 Gonsalves - Pastore · Coldwell Banker Real Estate
Listed By:
Robin Pastore
(401) 728-2770
Added: Jun 19
Changed: Oct 16
Last Checked: Oct 16 at 8:06PM
MLS# 1415838
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.
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Investment Insights
Based on property information with market context.
This 4,550-square-foot multifamily property includes two frame buildings with five rental apartments. The front structure contains three three-bedroom units, while the rear building has two two-bedroom units. The property was built in 1920 and includes a basement, natural gas heat, and baseboard heating. Updated parking serves the residential units.
All five apartments are occupied by long-term tenants, and the property carries a positive cap rate. The approximately 0.1148-acre parcel is located at 8 King Street in Pawtucket, Rhode Island, within Providence County. The two-building configuration and established tenancy provide a clearly defined apartment asset with a documented unit mix.
All five apartments are occupied by long-term tenants, and the property carries a positive cap rate. The approximately 0.1148-acre parcel is located at 8 King Street in Pawtucket, Rhode Island, within Providence County. The two-building configuration and established tenancy provide a clearly defined apartment asset with a documented unit mix.
Key Highlights
- Two‑building property with five rental units
- Three 3‑bedroom apartments in the front building
- Two 2‑bedroom apartments in the rear building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,126
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,202,520
$1.2M
Cap Rate 7%
$858,943
$858.9K
Cap Rate 9%
$668,067
$668.1K
Market Conditions
NOI Build-Up for 4,550 SF
Gross rent
$116.3K $25.56/SF
− Vacancy
−$7.0K −$1.53/SF
EGI
$109.3K $24.03/SF
− OpEx
−$49.2K −$10.81/SF
NOI
$60.1K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,202,520
Cap Rate 7%
$858,943
Cap Rate 9%
$668,067
Alternative Uses
Best Use
Apartment 5plus
$858.9K
$751.6K – $1.00M
NOI $60,126 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.08M
$947.0K – $1.26M
NOI $75,760 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
628
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily asset with a varied bedroom mix, updated parking, and long-term occupancy across all units.
Where is this apartment building located?
The property is located at 8 King Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two‑building property with five rental units; Three 3‑bedroom apartments in the front building; Two 2‑bedroom apartments in the rear building
