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    60 Reservoir Ave Pawtucket, RI 02860

    Sponsored
    For Sale
    $249,000

    Nine Garages, High Rental Potential

    Property size:
    200 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    341
    This exceptional investment opportunity presents a portfolio of nine individual garages located at 60 Reservoir Avenue in Pawtucket, Rhode Island. The property sits on a 0.12-acre lot and encompasses a total of 200 square feet of building space. Each garage is independently metered for electricity and separated by interior walls, offering flexibility and convenience for both owner and tenants. Currently, all nine garages are rented on a month-to-month basis at a below-market rate of $125 per month. This translates to a current gross monthly income of $1125, presenting significant upside potential through market-rate adjustments. The high demand is evidenced by an existing waiting list of prospective tenants, indicating strong potential for immediate and future rental income growth. The property is classified as general commercial and is offered at an attractive price of $249,000. This presents a rare chance to acquire a stable, income-generating asset with immediate cash flow and significant room for appreciation. The property's location in Pawtucket offers easy access to major transportation routes and local amenities, further enhancing its appeal to both tenants and investors. This is a turnkey investment ready for immediate income generation and future growth. Don't miss this opportunity to acquire a proven, high-demand commercial property.

    Property Features for 60 Reservoir Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    200 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1993
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.41164
    Latitude
    41.87855

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    FAQs

    What type of property is this?
    Commercial real estate - Nine Garages, High Rental Potential
    Where is this commercial real estate located?
    The property is located at 60 Reservoir Ave Pawtucket, RI.
    What is the asking price?
    The asking price for this property is $249,000.
    (508) 677-3233
    Request Owner's contact information
    60 Reservoir Ave Pawtucket, RI 02860
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    Realmo Value Estimation

    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.

    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.

    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
    60 Reservoir Ave Pawtucket, RI 02860
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