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64-66 Pitman St 4,732 SF 100% Leased Office Building Providence, RI 02906 $2,195,000 ($463.86/SF) 5.89% Cap Rate
Executive Summary
Introducing 64-66 Pitman St., a stately 5-unit brick building in one of the East Side's most desirable and consistently high-demand rental corridors. Beautifully maintained and renovated, this building consists of (1) 2 bed/2 bath unit and (4) 1 bed/1 bath units. All units feature condo quality finishes, including high ceilings, marble-tiled bathrooms, replacement windows, dishwashers, in-unit laundry, and central AC. The property is fully lead compliant and boasts modern mechanical systems, including updated plumbing and electrical, with newer water heaters and heating/cooling. Situated on a 7,500 SF corner lot, the building offers plenty of off-street parking with space for up to 10 cars, and is walking distance to Brown University, Whole Foods, and all of the restaurants, cafes, and shopping in Wayland Square. Fully leased through Summer 2027, this turnkey asset provides stable income and appreciation, with additional potential upside by adding a 6th unit/ADU on the ground level. Call today to schedule a showing!
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
4,732 SF
Building Class
B
Year Built
1920
Price
$2,195,000
Price Per SF
$463.86
Cap Rate
5.89%
NOI
$129,315
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,577 SF
Slab To Slab
11’
Building FAR
0.63
Lot Size
0.17 AC
Zoning
R4
Parking
10 Spaces (2.11 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | PROV-140078-000000-R000000-E000000 | Improvements Assessment | $738,300 |
| Land Assessment | $459,300 | Total Assessment | $1,197,600 |
Property Taxes
Parcel Number
PROV-140078-000000-R000000-E000000
Land Assessment
$459,300
Improvements Assessment
$738,300
Total Assessment
$1,197,600
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64-66 Pitman St
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