Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    116 Foundry St Central Falls, RI 02863
    Back to Search
    Property profile & analytics

    116 Foundry St Central Falls, RI 02863

    View on Map
    • Apartment buildings
    Off-Market
    Property ID
    US76-0325874
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 116 Foundry St

    Year built
    1900
    Property type
    Apartment buildings

    Description

    Welcome to this exceptional 5-unit multi-family property, featuring two homes on one lot, located in the heart of Central Falls, Rhode Island! This fantastic property includes four completely renovated apartments with a total of 8 bedrooms/ 4 full bathrooms at the front and a fully renovated 2-bedroom 2 Full Bathrooms single-family residence at the rear. It’s a perfect opportunity for both owner-occupants and investors. The single-family home offers 2 spacious bedrooms and 2 modern bathrooms, along with a brand-new roof for added peace of mind. Both properties have been thoughtfully updated, with stylish vinyl flooring, sleek white cabinetry, and contemporary stainless-steel appliances throughout each unit. Additionally, 3 brand-new Navien systems have been installed for energy-efficient heating and hot water. Whether you're looking for an investment opportunity or the chance to live in one unit while renting out the others, this property offers great potential. Conveniently located near Highway 95 for an easy commute, it’s just minutes from the new train station, 10 minutes from downtown Providence, and 40 minutes from Boston. Schedule your showing today and explore the possibilities!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Central Falls
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.38868
    Latitude
    41.8894172

    Comparable in this City

    • $750,000

      High-Cash-Flow Multifamily Investment Opportunity

      Five units in excellent condition with reliable income and growth potential.
      517 High St, Central Falls, RI 02863
      View Details
    • $595,000

      Mixed-Use Building with Apartments

      Mixed-use building with restaurant and apartments for sale.
      863 Broad St, Central Falls, RI 02863
      View Details
    • Contact for pricing

      Central Falls Multifamily Investment Opportunity

      Two well-maintained buildings, six units total, strong income potential.
      70 Lincoln Ave, Central Falls, RI 02863
      View Details
    • New
      $699,990
      Pending

      Well-Maintained Multi-Family Home

      Three-unit property in Central Falls with immediate rental income.
      85 Hendricks St, Central Falls, RI 02863
      View Details
    • New
      $699,900
      2,000 SF

      Central Falls Multi-Family with Garage

      Multi-family property with oversized garage/workspace in accessible location.
      112 Clay St, Central Falls, RI 02863
      View Details
    • New
      $749,000
      Pending

      Central Falls Four-Family Property

      Legal four-family property in Central Falls with parking.
      128 Summer St, Central Falls, RI 02863
      View Details

    Similar Nearby for Sale

    • $750,000

      High-Cash-Flow Multifamily Investment Opportunity

      Five units in excellent condition with reliable income and growth potential.
      517 High St, Central Falls, RI 02863
      View Details
    • $595,000

      Mixed-Use Building with Apartments

      Mixed-use building with restaurant and apartments for sale.
      863 Broad St, Central Falls, RI 02863
      View Details
    • Contact for pricing

      Central Falls Multifamily Investment Opportunity

      Two well-maintained buildings, six units total, strong income potential.
      70 Lincoln Ave, Central Falls, RI 02863
      View Details
    • New
      $699,990
      Pending

      Well-Maintained Multi-Family Home

      Three-unit property in Central Falls with immediate rental income.
      85 Hendricks St, Central Falls, RI 02863
      View Details
    • New
      $699,900
      2,000 SF

      Central Falls Multi-Family with Garage

      Multi-family property with oversized garage/workspace in accessible location.
      112 Clay St, Central Falls, RI 02863
      View Details
    • New
      $749,000
      Pending

      Central Falls Four-Family Property

      Legal four-family property in Central Falls with parking.
      128 Summer St, Central Falls, RI 02863
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,669 SF

      Retail Space on Dexter Street

      High-visibility retail space with parking in Central Falls, RI.
      361 Dexter St, Central Falls, RI 02863
      View Details
    • Contact for pricing

      Commercial Property for Rent

      Commercial property available for rent in Central Falls, Rhode Island.
      125 Clay St, Central Falls, RI 02863
      View Details
    • Contact for pricing

      Renovated Industrial Building with Rail

      325,119 SF industrial building renovated in 2022 and 2023.
      1159 Broad St, Central Falls, RI 02863
      View Details
    • Contact for pricing

      Historic Mill Building Studio Spaces

      Unique studio spaces in a revitalizing historic mill building.
      125-135 Clay St, Central Falls, RI 02863
      View Details
    • Contact for pricing
      500 SF

      Prime Commercial Space Available

      Street-level storefront with basement, high visibility, great location.
      539 Broad St, Central Falls, RI 02863
      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.
    116 Foundry St
    Central Falls, RI 02863
    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

    Thank You for Inquiry
    116 Foundry St, Central Falls, RI, 02863
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!