Mixed-Use Property with Retail
For Sale
Contact for pricing
580 Central Avenue, Pawtucket, RI 02861
Three-unit configuration combines storefront space with two residential apartments and off-street parking.
Property Size3,306 SF
Price / SF$173.93
Days on Market694
Property Features for 580 Central Avenue
General Information
Standard status
Active
Size
3,306 SF
Total Parking Spaces
10
Property subtype
Mixed Use, Retail, Land
Occupancy
100%
Building Details
Year Built
1930
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Century 21 The Seyboth Team
Listed By:
Kyle Seyboth · License #RI, MA
(508) 726-3492
Source:
Crexi
Added: Nov 20, 2024
Changed: Oct 9
Last Checked: Oct 14 at 10:55PM
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 Century 21 The Seyboth Team
Investment Insights
Based on property information with market context.
Built in 1930, this 3,306-square-foot mixed-use property combines a retail unit with two residential apartments. The residential component includes one two-bedroom unit and one one-bedroom unit, creating a varied unit mix within the building. The property is currently fully occupied and includes a detached garage that can support storage or other property needs.
Off-street parking serves the residential and commercial components. Located at 580 Central Avenue in Pawtucket, Rhode Island, the property presents a combined retail and residential configuration with established on-site improvements.
Off-street parking serves the residential and commercial components. Located at 580 Central Avenue in Pawtucket, Rhode Island, the property presents a combined retail and residential configuration with established on-site improvements.
Key Highlights
- 3,306‑square‑foot mixed‑use property built in 1930
- One retail unit plus two residential units
- Residential unit mix includes 2‑bedroom and 1‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,687
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,740
$873.7K
Cap Rate 7%
$624,100
$624.1K
Cap Rate 9%
$485,411
$485.4K
Market Conditions
NOI Build-Up for 3,306 SF
Gross rent
$84.5K $25.56/SF
− Vacancy
−$5.1K −$1.53/SF
EGI
$79.4K $24.03/SF
− OpEx
−$35.7K −$10.81/SF
NOI
$43.7K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$873,740
Cap Rate 7%
$624,100
Cap Rate 9%
$485,411
Alternative Uses
Best Use
Multifamily LT 5
$786.4K
$688.1K – $917.4K
NOI $55,046 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$624.1K
$546.1K – $728.1K
NOI $43,687 @ 7.0% cap · market cap 7.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
918
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit configuration combines storefront space with two residential apartments and off-street parking.
Where is this mixed-use property located?
The property is located at 580 Central Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,306‑square‑foot mixed‑use property built in 1930; One retail unit plus two residential units; Residential unit mix includes 2‑bedroom and 1‑bedroom apartments
