84 Transit Street Providence, RI 02906
COMMERCIAL - Providence, RI
- Added:
- Mar 11, 2026
- Days on Market:
- 124
- Last Refresh:
- Jul 12 at 4:06 pm
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
- Pending
- 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
- Natural Gas, Baseboard
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 address is 84 Transit Street in Providence, RI 02906, with the site identified as being in the Fox Point area. The public remarks note proximity to historic Benefit Street as well as the waterfront and walking paths associated with India Point Park.
For buyers looking for a manageable, established rental asset, the existing unit mix and predominantly month-to-month tenancy can be a useful fit for those seeking an income-generating multifamily property with room to consider additional improvements. With zoning identified as R3, the property may be well aligned for residential income use under that designation, while the two-building configuration can appeal to operators who prefer multiple structures within one ownership.
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 |
