Gated Automotive
For Sale
$1,200,000
1153 Central Avenue, Pawtucket, RI 02861
Commercial/Business,Commercial Sale, Pawtucket, RI
Property Size8,200 SF
Lot Size0.74 Acres
Price / SF$146.34
Days on Market317
Property Features for 1153 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
24
Lot features
Suburban
Standard status
Active
Lot size
0.74 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
7436
Building Details
Year built
1940
Building materials
Brick, Frame
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Oct 14, 2025
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 1397708
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 automotive property includes an 8,200-square-foot building on a 32,234-square-foot lot. The operation combines auto sales, auto body services, and towing, with room for up to 100 vehicles. Brick and frame construction dates to 1940, and the site is enclosed by fencing and gates.
Located at 1153 Central Avenue in Pawtucket, Rhode Island, the property provides dedicated space for automotive inventory and business operations. The secured lot supports vehicle storage across the site while accommodating the combined automotive uses described for the facility.
Located at 1153 Central Avenue in Pawtucket, Rhode Island, the property provides dedicated space for automotive inventory and business operations. The secured lot supports vehicle storage across the site while accommodating the combined automotive uses described for the facility.
Key Highlights
- 8,200‑square‑foot building on a 32,234‑square‑foot lot
- Auto sales, auto body, and towing operation
- Vehicle capacity for up to 100 cars
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
$92,575
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
7.71%
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%
$1,851,500
$1.9M
Cap Rate 7%
$1,322,500
$1.3M
Cap Rate 9%
$1,028,611
$1.0M
Market Conditions
NOI Build-Up for 8,200 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
$147.6K $18.00/SF
− Vacancy
−$15.4K −$1.87/SF
EGI
$132.2K $16.13/SF
− OpEx
−$39.7K −$4.84/SF
NOI
$92.6K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,851,500
Cap Rate 7%
$1,322,500
Cap Rate 9%
$1,028,611
Alternative Uses
Best Use
Retail
$1.32M
$1.16M – $1.54M
NOI $92,575 @ 7.0% cap · market cap 7.71%
Second Best
Industrial
$611.3K
$534.9K – $713.2K
NOI $42,792 @ 7.0% cap · market cap 3.57%
Theoretical Best
Multifamily LT 5
$1.95M
$1.71M – $2.28M
NOI $136,534 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
46k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 30%
Home Improvements & Furnishings 18%
Speedway
Shops & Services
11,224 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,704 visits/mo
0.0 miles
Rocky's Ace Hardware
Home Improvements & Furnishings
8,390 visits/mo
0.1 miles
Dollar General
Shops & Services
7,954 visits/mo
0.1 miles
7-Eleven
Shops & Services
2,927 visits/mo
0.4 miles
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Automotive facility combining sales, body work, and towing operations with secured vehicle storage.
Where is this automotive property located?
The property is located at 1153 Central Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8,200‑square‑foot building on a 32,234‑square‑foot lot; Auto sales, auto body, and towing operation; Vehicle capacity for up to 100 cars
