Building Details

Year Built 1970

Buildings 1

Stories 1

Construction brick

Tenancy Single

Owner Occupied No

Listing Agency: BHHS Commonwealth Real Estate Show Phone

Listed By: Allen Gammons · License #REB.0015256 Show Phone

Source: Lockandkeyre

Added: Sep 1 Changed: Oct 16 Last Checked: Oct 16 at 8:59AM

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Investment Insights

Based on property information with market context.

This 2,076-square-foot brick office building was constructed in 1970 and offers a single-level layout with several private offices, an expanded reception and waiting area, two break or kitchen areas, and a lower-level conference room. The property includes seven parking spaces and is suited to an owner-user or an investor seeking an occupied office asset. A current tenant holds a two-year lease and has indicated a willingness to relocate if a purchaser plans to occupy the building.

The property is located on Newport Avenue in Pawtucket, approximately 1.5 miles from Route 95. It is served by the bus line and positioned near the Pawtucket train station.

Key Highlights

• 2,076 SF brick office building constructed in 1970
• Single‑level layout with several private offices and expanded reception area
• Lower‑level conference room plus two break or kitchen areas

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,834

Cap Rate

5.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$536,680 $536.7K

Cap Rate 7%

$383,343 $383.3K

Cap Rate 9%

$298,156 $298.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,076 SF

Gross rent

$41.6K $20.04/SF

− Vacancy

−$5.8K −$2.81/SF

EGI

$35.8K $17.23/SF

− OpEx

−$8.9K −$4.31/SF

NOI

$26.8K $12.93/SF

Area

Providence County, RI

Vacancy

14.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$536,680

Cap Rate 7%

$383,343

Cap Rate 9%

$298,156

Alternative Uses

Best Use

Office B

$383.3K

$335.4K – $447.2K (±1% cap)

NOI $26,834 @ 7.0% cap · market cap 5.59%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$493.8K

$432.1K – $576.1K (±1% cap)

NOI $34,566 @ 7.0% cap · market cap 7.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Dr. Gregory Decrescenzo Alternative Medicine Practice Amy Malek Alternative Medicine Practice Shadi Shakoori Alternative Medicine Practice The Bottaro Law Firm, ... Law Firm

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Skin Care Clinic Food Market Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

680

Businesses Nearby

Explore this area Business Placement

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 Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Updated brick property with private offices, reception, conference space, kitchen areas, and on-site parking.

Where is this office building located?

The property is located at 1155 Newport Avenue Pawtucket, RI.

What is the asking price?

The asking price for this property is $480,000.

What are key features of this property?

This property features: 2,076 SF brick office building constructed in 1970; Single‑level layout with several private offices and expanded reception area; Lower‑level conference room plus two break or kitchen areas