Seven-Unit Apartment
For Sale
$2,500,000
80 Briarwood Avenue, Middletown, RI 02842
Commercial/Business,Commercial Sale, Middletown, RI
Property Size5,993 SF
Lot Size0.46 Acres
Price / SF$417.15
Days on Market8
Property Features for 80 Briarwood Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-10
Rooms
Basement
Parking
14
Interior features
Ceiling Height (7 to 9 Ft)
Basement
Full
Subdivision
Easton's Point
Lot features
Paved, Free Standing
View
Water
Standard status
Active
Size
5,993 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
17845
Utilities
Sewer type
Public Sewer
Heating system
Central, Zoned, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1880
Number of units
1
Listing Agency:
Williams & Stuart Real Estate
(401) 847-4800
Listed By:
Barbara Jagolinzer · License #REB.0013531
(401) 345-6666
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 24 at 1:06AM
MLS# 1423293
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 7-unit multifamily property comprises a four-bedroom townhouse-style apartment, one studio, three one-bedroom apartments, and two two-bedroom apartments. The 5,993-square-foot property includes basement space, window-unit cooling, central and zoned natural-gas heating, and ceiling heights ranging from 7 to 9 feet. Public water and sewer serve the building, which was constructed in 1880.
The property occupies two adjoining lots totaling 0.46 acres at 80 Briarwood Avenue in Middletown. It offers off-street parking and elevated views toward the beach, with Easton's Beach nearby and St. George's School within walking distance. The site is zoned R-10 and is located in Newport County.
The property occupies two adjoining lots totaling 0.46 acres at 80 Briarwood Avenue in Middletown. It offers off-street parking and elevated views toward the beach, with Easton's Beach nearby and St. George's School within walking distance. The site is zoned R-10 and is located in Newport County.
Key Highlights
- 7‑unit multifamily property with a four‑bedroom townhouse, studio, three one‑bedroom units, and two two‑bedroom units
- 5,993 square feet on two adjoining lots totaling 0.46 acres
- R‑10 zoning at 80 Briarwood Avenue, Middletown, RI 02842
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
$89,020
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
3.56%
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%
$1,780,400
$1.8M
Cap Rate 7%
$1,271,714
$1.3M
Cap Rate 9%
$989,111
$989.1K
Market Conditions
NOI Build-Up for 5,993 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
$174.0K $29.04/SF
− Vacancy
−$12.2K −$2.03/SF
EGI
$161.9K $27.01/SF
− OpEx
−$72.8K −$12.15/SF
NOI
$89.0K $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%
$1,780,400
Cap Rate 7%
$1,271,714
Cap Rate 9%
$989,111
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $89,020 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $100,096 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied apartment layouts, off-street parking, and public water and sewer service.
Where is this apartment building located?
The property is located at 80 Briarwood Avenue Middletown, RI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 7‑unit multifamily property with a four‑bedroom townhouse, studio, three one‑bedroom units, and two two‑bedroom units; 5,993 square feet on two adjoining lots totaling 0.46 acres; R‑10 zoning at 80 Briarwood Avenue, Middletown, RI 02842
