Four-Unit
For Sale
$689,000
868 Main Street, Pawtucket, RI 02860
Residential income property with four units and dedicated off-street tenant parking.
Property Size4,221 SF
Price / SF$163.23
Days on Market50
Property Features for 868 Main Street
General Information
Standard status
Active
Size
4,221 SF
Property subtype
MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1920
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
Philip Rebello · License #RES.0043201
(508) 974-5402
Source:
Lockandkeyre
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 4 at 10:03AM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
Built in 1920, this quadplex contains four residential units with a combined 4,221 square feet and nine total bedrooms. Dedicated off-street parking serves the property and provides a practical amenity for occupants. The building is located at 868 Main Street in Pawtucket, Rhode Island.
Access to I-95 connects the property with Providence and Boston. Shops, restaurants, public transportation, and Slater Memorial Park are also located within minutes, adding convenience for residents and supporting the property's established urban setting.
Access to I-95 connects the property with Providence and Boston. Shops, restaurants, public transportation, and Slater Memorial Park are also located within minutes, adding convenience for residents and supporting the property's established urban setting.
Key Highlights
- Four residential units with 9 total bedrooms
- 4,221 SF building constructed in 1920
- Dedicated off‑street parking for tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,778
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,115,560
$1.1M
Cap Rate 7%
$796,829
$796.8K
Cap Rate 9%
$619,756
$619.8K
Market Conditions
NOI Build-Up for 4,221 SF
Gross rent
$107.9K $25.56/SF
− Vacancy
−$6.5K −$1.53/SF
EGI
$101.4K $24.03/SF
− OpEx
−$45.6K −$10.81/SF
NOI
$55.8K $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%
$1,115,560
Cap Rate 7%
$796,829
Cap Rate 9%
$619,756
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$878.5K – $1.17M
NOI $70,282 @ 7.0% cap · market cap 10.20%
Second Best
Apartment 5plus
$796.8K
$697.2K – $929.6K
NOI $55,778 @ 7.0% cap · market cap 8.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
982
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with four units and dedicated off-street tenant parking.
Where is this quadplex located?
The property is located at 868 Main Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Four residential units with 9 total bedrooms; 4,221 SF building constructed in 1920; Dedicated off‑street parking for tenants
