Single-Level Office
New
For Sale
$480,000
1155 Newport Avenue, Pawtucket, RI 02861
Updated brick property with private offices, reception, conference space, kitchen areas, and on-site parking.
Property Size2,076 SF
Price / SF$231.21
Days on Market4
Property Features for 1155 Newport Avenue
General Information
Standard status
Active
Size
2,076 SF
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,907
Amenities
reception area
waiting room
break/kitchen areas
conference room
3
7 Parking Spaces.
Building Details
Year Built
1970
Buildings
1
Stories
1
Construction
brick
Tenancy
Single
Owner Occupied
No
Listing Agency:
BHHS Commonwealth Real Estate
(401) 886-6100
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Source:
Xome
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Commonwealth Real Estate
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.
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 = 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
$26,834
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
5.59%
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%
$536,680
$536.7K
Cap Rate 7%
$383,343
$383.3K
Cap Rate 9%
$298,156
$298.2K
Market Conditions
NOI Build-Up for 2,076 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
$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 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%
$536,680
Cap Rate 7%
$383,343
Cap Rate 9%
$298,156
Alternative Uses
Best Use
Office B
$383.3K
$335.4K – $447.2K
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
NOI $34,566 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
