Triple Net Leased Restaurant
For Sale
$850,000
176 Columbus Avenue, Pawtucket, RI 02860
Single-tenant restaurant investment offered with a $90,000/year NNN lease and recent building improvements for streamlined ownership.
Property Size4,284 SF
Price / SF$198.41
Days on Market107
Property Features for 176 Columbus Avenue
General Information
Standard status
Active
Size
4,284 SF
Property subtype
General Commercial
Building Details
Year Built
1940
Listing Agency:
RE/MAX Properties
(401) 232-7900
Listed By:
Karl Martone · License #145726
(401) 232-7900
Source:
Xome
Added: Apr 18
Changed: Jul 10
Last Checked: Aug 1 at 3:41AM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
This is a single-tenant, triple net (NNN) restaurant property offered for sale with a $90,000/year NNN lease in place. The current restaurant tenant is described as long-term and established, with a proven track record. The building and structure are reported to be in excellent condition, with recent exterior facade updates, a newer roof, and fully updated mechanical systems, including HVAC improvements intended to limit future capital expenditures.
The property is positioned in a high-visibility, high-traffic area, supporting consistent day-to-day customer access. As an NNN lease structure, it is designed to reduce landlord involvement by shifting many operational responsibilities to the tenant under the lease terms provided.
For investors or buyers seeking a hands-off income profile, this asset’s combination of a long-term restaurant tenant and NNN lease structure is a key consideration. The reported building upgrades—exterior facade updates, a newer roof, and updated mechanical systems—also address near-term maintenance planning from an ownership standpoint. Prospective purchasers should review the lease details and condition documentation during due diligence.
The property is positioned in a high-visibility, high-traffic area, supporting consistent day-to-day customer access. As an NNN lease structure, it is designed to reduce landlord involvement by shifting many operational responsibilities to the tenant under the lease terms provided.
For investors or buyers seeking a hands-off income profile, this asset’s combination of a long-term restaurant tenant and NNN lease structure is a key consideration. The reported building upgrades—exterior facade updates, a newer roof, and updated mechanical systems—also address near-term maintenance planning from an ownership standpoint. Prospective purchasers should review the lease details and condition documentation during due diligence.
Key Highlights
- $90,000/year Triple Net (NNN) lease in place with an established, single‑tenant restaurant
- Recent exterior facade updates plus a newer roof
- Fully updated mechanical systems, including HVAC (noted as helping limit future capital expenditures)
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.1k | $18.00 |
| − Vacancy | −$7.9k | −$1.85 |
| EGI | $69.2k | $16.15 |
| − OpEx | −$17.3k | −$4.04 |
| NOI | $51.9k | $12.11 |
4,284 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$741.3K
$648.6K – $864.8K
NOI $51,889 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.02M
$891.6K – $1.19M
NOI $71,331 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant restaurant investment offered with a $90,000/year NNN lease and recent building improvements for streamlined ownership.
Where is this nnn property located?
The property is located at 176 Columbus Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: $90,000/year Triple Net (NNN) lease in place with an established, single‑tenant restaurant; Recent exterior facade updates plus a newer roof; Fully updated mechanical systems, including HVAC (noted as helping limit future capital expenditures)
