84 Transit Street Providence, RI 02906
COMMERCIAL - Providence, RI
Property Features for 84 Transit Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R3
- Rooms
- Basement
- Parking
- 3
- Basement
- Full
- Standard status
- Active
- Size
- 6,188 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 34676
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1900
- Number of units
- 8
- Building materials
- Brick
Listing agent Stephen Gaskin License #RES.0048283 (401) 439-7705
Listing office Residential Properties Ltd. 140 Wickenden Street, RI (401) 274-6740
Listing date Mar 11, 2026
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.
The buildings are located at 84 Transit Street in Providence, in the Fox Point area, with proximity to Benefit Street and access to the waterfront and walking paths of India Point Park as described in the remarks.
Zoned R3, this is a smaller-scale multifamily setup well suited for investors looking to acquire an occupied property with room to consider improvements based on the existing tenancy profile.
Key Highlights
- Prime location in the heart of Fox Point, steps from historic Benefit Street
- Strong existing income stream with mostly month‑to‑month tenants
- Rare 8‑unit, two‑building property
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $181.9k | $29.40 |
| − Vacancy | −$11.3k | −$1.82 |
| EGI | $170.6k | $27.58 |
| − OpEx | −$76.8k | −$12.41 |
| NOI | $93.9k | $15.17 |
