Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    44 Sycamore St Providence, RI 02909

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0091805
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fresh Paint RI / Painting

    Property Details for 44 Sycamore St

    Year built
    1900
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a meticulously maintained, five-unit multifamily building situated on a 5,014 square foot lot at 44 Sycamore Street in Providence, Rhode Island's desirable Armory District. Built in 1900, this charming Mansard-style Victorian boasts a slate roof and has undergone significant renovations. Improvements include updated kitchens and bathrooms, new heating systems, central air conditioning, and solar panels on the third floor. Safety features include a hardwired smoke detector system. Recent upgrades also encompass a new roof (2019), new storm windows (2022), and new windows (2023). The building comprises four one-bedroom units and one three-bedroom unit, each featuring high ceilings, wide-plank hardwood floors, abundant natural light, and distinct character. Residents enjoy off-street parking for six cars, with two spaces housed in a secure garage accessible via remote control. Currently generating over $9,300 in monthly rent, this property offers a compelling return on investment. Its prime location provides easy access to downtown Providence, major highways, and the vibrant amenities of the West Side. This property is ideal for both owner-occupants and investors seeking a stable, high-performing asset in a thriving urban neighborhood. The asking price is $1,249,900.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4346575
    Latitude
    41.8147439

    Comparable in this City

    • $710,000

      Prime Providence Land Investment

      Two-building lot, high ROI potential.
      21 Whitehall St Whitehall St, Providence, RI 02909
      View Details
    • $925,000

      Federal Hill Mixed-Use Property

      Prime Providence location, 4 units, high potential.
      529 Broadway, Providence, RI 02909
      View Details
    • $539,000
      Pending

      Providence Two-Family Home with Lot

      Well-maintained two-family home with vacant buildable lot in Providence.
      31 Bowdoin St, Providence, RI 02909
      View Details
    • $775,000
      0.09 Acres

      Providence Three-Family Investment Opportunity

      Well-maintained three-family property in Providence's West Side.
      102 Penn St, Providence, RI 02909
      View Details
    • $429,000
      Pending

      Two-Family Home with Garage

      Two-family home in Mount Pleasant with a four-car garage.
      12 Mongenais St, Providence, RI 02909
      View Details
    • $565,000
      Pending

      Providence Multifamily Property For Sale

      Multifamily property in Providence, Rhode Island.
      755 Atwells Ave, Providence, RI 02909
      View Details

    Similar Nearby for Sale

    • $710,000

      Prime Providence Land Investment

      Two-building lot, high ROI potential.
      21 Whitehall St Whitehall St, Providence, RI 02909
      View Details
    • $925,000

      Federal Hill Mixed-Use Property

      Prime Providence location, 4 units, high potential.
      529 Broadway, Providence, RI 02909
      View Details
    • $539,000
      Pending

      Providence Two-Family Home with Lot

      Well-maintained two-family home with vacant buildable lot in Providence.
      31 Bowdoin St, Providence, RI 02909
      View Details
    • $775,000
      0.09 Acres

      Providence Three-Family Investment Opportunity

      Well-maintained three-family property in Providence's West Side.
      102 Penn St, Providence, RI 02909
      View Details
    • $429,000
      Pending

      Two-Family Home with Garage

      Two-family home in Mount Pleasant with a four-car garage.
      12 Mongenais St, Providence, RI 02909
      View Details
    • $565,000
      Pending

      Providence Multifamily Property For Sale

      Multifamily property in Providence, Rhode Island.
      755 Atwells Ave, Providence, RI 02909
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,790 SF

      Manton Ave Retail Opportunity

      High-traffic retail pad, prime location.
      850 Manton Ave, Providence, RI 02909
      View Details
    • $26 SF/Yr
      3,860 SF

      Historic Providence Office Suites

      Elegant offices, prime location, on-site parking.
      340 Broadway, Providence, RI 02909
      View Details
    • Contact for pricing
      9,500 SF

      Retail Space Near Federal Hill

      Retail space available adjacent to Federal Hill in Providence.
      589 Atwells Ave, Providence, RI 02909
      View Details
    • Contact for pricing
      2,800 SF

      Retail Space Near Federal Hill

      Retail space available adjacent to Federal Hill in Providence.
      579 Atwells Ave, Providence, RI 02909
      View Details
    • $600 /Mo
      1,638 SF

      Providence Flex Space For Rent

      Flex space available for rent in Providence, Rhode Island.
      25 Manton Ave, Providence, RI 02909
      View Details
    • Contact for pricing
      20,000 SF

      Westminster Street Landmark Property

      Adaptable space in a prominent community-use building in Providence.
      1860 Westminster St, Providence, RI 02909
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    44 Sycamore St
    Providence, RI 02909
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.