94-96 Medway Street, Providence, RI 02906
Twelve one-bedroom units in a separately metered multifamily building near Wayland Square and Providence’s major education employers.
- Added:
- Jun 16, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 20 at 8:36 am
Property Features for 94-96 Medway Street
General Information
- Standard status
- Active
- Size
- 9,504 SF
- Property subtype
- Multifamily
Listing office MG Commercial
Listing date Jun 16, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of MG Commercial
HighLights
- 12‑unit multifamily building with twelve one‑bedroom units
- 9,504 SF building
- All units separately metered for utilities
- Located in Providence’s Wayland Square neighborhood on the East Side
- Near Brown University, RISD, College Hill, downtown Providence, and East Side employment centers
Overview
Located in the Wayland Square neighborhood on Providence’s East Side, the building offers walkable access to dining, retail, transit, and everyday amenities associated with the area. The remarks also note proximity to Brown University, RISD, College Hill, and downtown Providence, along with major employment centers.
For investors or operators seeking a smaller-scale residential income property in a high-demand rental submarket, this asset’s unit mix and separately metered arrangement are practical features. With all 12 units as one-bedrooms and an established neighborhood context anchored by nearby education and employment drivers, the building provides a tenant-ready configuration for continued rental operations.
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 | $279.4k | $29.40 |
| − Vacancy | −$17.3k | −$1.82 |
| EGI | $262.1k | $27.58 |
| − OpEx | −$117.9k | −$12.41 |
| NOI | $144.2k | $15.17 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.3894351
- Latitude
- 41.8293654
