Updated Brick Office
New
For Sale
$480,000
1155 Newport Avenue, Pawtucket, RI 02861
Commercial/Business,Commercial Sale, Pawtucket, RI
Property Size2,076 SF
Lot Size0.14 Acres
Price / SF$231.21
Days on Market2
Property Features for 1155 Newport Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
7
Security features
Security
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Newport Ave.
Lot features
Corner Lot, Paved, Sidewalks, Urban
Standard status
Active
Size
2,076 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8907
Utilities
Cooling system
Central Air
Building Details
Year built
1970
Number of units
1
Building materials
Brick
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Allen Gammons · License #REB.0015256
(401) 742-6050
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 6:06PM
MLS# 1422171
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.
Built in 1970, this 2,076-square-foot brick office property occupies a 0.14-acre parcel and includes several private offices, an expanded reception area, and a dedicated waiting room. Interior features include a lower-level conference room, two break or kitchen areas, central air, and ceiling heights ranging from 7 to 9 feet. Parking is available on the property.
The building is located at 1155 Newport Avenue in Pawtucket, with bus service nearby and the Pawtucket train station in the surrounding area. The property is approximately 1.5 miles from Route 95. A current tenant has a two-year lease and has indicated a willingness to relocate if an owner-user purchaser plans to occupy the building.
The building is located at 1155 Newport Avenue in Pawtucket, with bus service nearby and the Pawtucket train station in the surrounding area. The property is approximately 1.5 miles from Route 95. A current tenant has a two-year lease and has indicated a willingness to relocate if an owner-user purchaser plans to occupy the building.
Key Highlights
- 2,076 SF brick office building on a 0.14‑acre parcel
- Several private offices with expanded reception and waiting areas
- Lower‑level conference room and 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
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 - Brick construction, private offices, reception and waiting areas, dual break kitchens, and central air support an owner-user layout.
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 on a 0.14‑acre parcel; Several private offices with expanded reception and waiting areas; Lower‑level conference room and two break or kitchen areas
