Triplex and Freestanding Food
For Sale
$899,999
Cumberland, RI 02864, Cumberland, RI 02864
Residential Income, Cumberland, RI
Property Size5,530 SF
Lot Size0.23 Acres
Price / SF$162.75
Days on Market123
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MIX
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Basement, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
8
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Basement
Storage Space, Full, Unfinished
Appliances
Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
5,530 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5717
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Amenities
coin-op laundry
Building Details
Year built
1930
Floors in Building
3
Number of units
4
Flooring type
Laminate, Tile - Ceramic, Carpet, Vinyl
Building materials
Dry Wall, Brick, Shingles, Vinyl Siding
Listing Agency:
Dandurand Real Estate
(401) 724-6637
Listed By:
Team Dandurand
(401) 724-6637
Added: Apr 20
Changed: Aug 20
Last Checked: Aug 20 at 11:06PM
MLS# 1410463
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.
This two-building package includes a free-standing three-unit residential building and a separate free-standing one-level commercial building. The residential building has three units, and each unit is described as having two bedrooms, a bath, a living room, and an applianced kitchen. Each unit also includes an assigned parking space, and the basement has a coin-op laundry. The units are occupied by long-term tenants who pay their own utilities, and the building is described as being in good condition. The residential building is 3,786 sq ft and is constructed with dry wall, brick, shingles, and vinyl siding.
The second building is a free-standing, modern one-level commercial property currently operating as a long-established food market. It is 1,723 sq ft and described as being in very good condition, with ample parking and high traffic and visibility.
Both buildings share a 10,000 sq ft lot, with an identified lot size of 0.2296 acres, and are sold as a package only. The property is listed as having central natural gas heat and central air, with a year built of 1930.
The second building is a free-standing, modern one-level commercial property currently operating as a long-established food market. It is 1,723 sq ft and described as being in very good condition, with ample parking and high traffic and visibility.
Both buildings share a 10,000 sq ft lot, with an identified lot size of 0.2296 acres, and are sold as a package only. The property is listed as having central natural gas heat and central air, with a year built of 1930.
Key Highlights
- Two‑building package sold only as a package: three‑unit residential plus freestanding one‑level food market
- Residential building totals 3,786 sq ft; each unit has 2 bedrooms, a bath, living room, and applianced kitchen
- Occupied long‑term tenants in all residential units; tenants pay their own utilities; basement coin‑op laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,076
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,461,520
$1.5M
Cap Rate 7%
$1,043,943
$1.0M
Cap Rate 9%
$811,956
$812.0K
Market Conditions
NOI Build-Up for 5,530 SF
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.
Gross rent
$141.3K $25.56/SF
− Vacancy
−$8.5K −$1.53/SF
EGI
$132.9K $24.03/SF
− OpEx
−$59.8K −$10.81/SF
NOI
$73.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,461,520
Cap Rate 7%
$1,043,943
Cap Rate 9%
$811,956
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.15M – $1.53M
NOI $92,077 @ 7.0% cap · market cap 10.23%
Second Best
Apartment 5plus
$1.04M
$913.5K – $1.22M
NOI $73,076 @ 7.0% cap · market cap 8.12%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Package includes a three-unit residential building and a freestanding, one-level food market on a shared lot.
Where is this triplex located?
The property is located at Cumberland, RI.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Two‑building package sold only as a package: three‑unit residential plus freestanding one‑level food market; Residential building totals 3,786 sq ft; each unit has 2 bedrooms, a bath, living room, and applianced kitchen; Occupied long‑term tenants in all residential units; tenants pay their own utilities; basement coin‑op laundry
