Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    163 George Street Pawtucket, RI 02860

    View on Map
    Claim this Listing
    New
    For Sale
    $3,500,000

    COMMERCIAL - Pawtucket, RI

    Lot size:
    1.48 Acres
    Added:
    Apr 27, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 28 at 12:06 am

    Property Features for 163 George Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.48 Acres

    Taxes and HOA fees

    Tax Year
    2024

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1900
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    James Luth
    James Luth

    Listing agent James Luth

    Listing office Here Realty 875 Oaklawn Avenue, Cranston, RI

    Listing date Apr 27, 2026

    MLS# 1409831

    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.

    Overview

    Approved Residential Development Opportunity

    This is a ground development site with full approvals for a 100-unit residential development, including an underground garage. The 1.48-acre site is located directly behind the former St. Mary's school building. It is situated in an opportunity zone and is included in the National Register's Multiple Resource Area for historical tax credits. The site is environmentally clean and level, with close proximity to city utilities. Its location offers convenient access to I-95, the Pawtucket Central Falls Commuter Rail Station, the Tidewater Landing soccer stadium, and the East Side of Providence. The property is located in Pawtucket, Rhode Island.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.388034
    Latitude
    41.870797

    Nearby Similar for Sale

    • $850,000

      Pawtucket Corner Restaurant/Lounge Opportunity

      Fully built-out restaurant, lounge, and hookah bar for sale.
      110 School Street, Pawtucket, RI 02860
      View Details
    • $650,000

      Turn-Key Liquor Store Opportunity

      Profitable liquor store with high traffic location in Pawtucket.
      551 Smithfield Avenue, Pawtucket, RI 02860
      View Details
    • $19

      Versatile Commercial Building on Broadway

      Adaptable commercial building suitable for various professional services.
      480 Broadway, Pawtucket, RI 02860
      View Details
    • $1.00

      Pawtucket Commercial Space For Sale

      Renovated commercial space in downtown Pawtucket, move-in ready.
      240 Main Street, Pawtucket, RI 02860
      View Details
    • $1,500,000

      Pawtucket Commercial Investment Opportunity

      Multi-unit commercial property in downtown Pawtucket with income potential.
      238 Main Street, Pawtucket, RI 02860
      View Details
    • $599,000

      Pawtucket Two-Family Home For Sale

      Well-maintained two-family home with strong cash flow potential.
      400 Benefit Street, Pawtucket, RI 02903
      View Details
    • $439,000

      Pawtucket Commercial Building For Sale

      4,497 sqft commercial building with office and warehouse space.
      129 Warren Avenue, Pawtucket, RI 02860
      View Details
    • $1.00

      Pawtucket Commercial Space For Sale

      Renovated commercial space in downtown Pawtucket, move-in ready.
      244 Main Street, Pawtucket, RI 02860
      View Details
    • $3,200,000

      Pawtucket Commercial Warehouse/Mill Opportunity

      Large commercial warehouse/mill property in Pawtucket, Rhode Island.
      120 Webster Street, Pawtucket, RI 02861
      View Details
    • $600,000

      Pawtucket Two-Family Home For Sale

      Well-maintained two-family home with updated interiors and convenient location.
      41 Utton Avenue, Pawtucket, RI 02860
      View Details
    • $650,000

      Pawtucket Commercial Property with Lifts

      Expansive commercial property ideal for auto, industrial, or service operations.
      19 Benefit Street, Pawtucket, RI 02861
      View Details
    • $650,000

      Pawtucket Commercial/Industrial Lot For Sale

      Commercial/industrial lot with auto repair facility and expansion potential.
      102 Esten Avenue, Pawtucket, RI 02860
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Approved 100-unit residential development site in Pawtucket, Rhode Island.
    Where is this residential land & home lot located?
    The property is located at 163 George Street Pawtucket, RI.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Approved for 100 residential units, ready for development.; Located in an opportunity zone, offering potential tax benefits.; Eligible for historical tax credits as part of the National Register's Multiple Resource Area.
    (401) 649-2358
    We can help!
    Listing Contact
    James Luth
    James Luth
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!