NNN Restaurant
For Sale
$850,000
176 Columbus Avenue, Pawtucket, RI 02860
Commercial/Business,Commercial Sale, Pawtucket, RI
Property Size4,284 SF
Lot Size0.58 Acres
Price / SF$198.41
Days on Market98
Property Features for 176 Columbus Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Lot features
Downtown
Standard status
Active
Size
4,284 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10600
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Forced Air
Building Details
Year built
1940
Number of units
1
Building materials
Frame, Masonry
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Karl Martone · License #145726
(401) 232-7900
Added: May 19
Changed: Aug 19
Last Checked: Aug 24 at 9:06PM
MLS# 1412993
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.
Located at 176 Columbus Avenue in Pawtucket, this 4,284-square-foot restaurant property occupies a 0.5769-acre site. The building dates to 1940 and includes a basement, frame and masonry construction, and ceiling heights ranging from 9 to 12 feet.
The property is leased to an established restaurant tenant under a long-term NNN lease, providing a defined lease structure with limited landlord responsibilities. Recent physical updates include exterior facade improvements, a newer roof, and updated mechanical systems. Heating is provided by natural gas, central, forced-air equipment, and the site is served by public sewer.
The property is leased to an established restaurant tenant under a long-term NNN lease, providing a defined lease structure with limited landlord responsibilities. Recent physical updates include exterior facade improvements, a newer roof, and updated mechanical systems. Heating is provided by natural gas, central, forced-air equipment, and the site is served by public sewer.
Key Highlights
- 4,284‑square‑foot restaurant property on a 0.5769‑acre site
- Long‑term NNN lease with established restaurant tenancy
- Recent exterior facade updates and newer roof
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
$51,889
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
6.10%
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%
$1,037,780
$1.0M
Cap Rate 7%
$741,271
$741.3K
Cap Rate 9%
$576,544
$576.5K
Market Conditions
NOI Build-Up for 4,284 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
$77.1K $18.00/SF
− Vacancy
−$7.9K −$1.85/SF
EGI
$69.2K $16.15/SF
− OpEx
−$17.3K −$4.04/SF
NOI
$51.9K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /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%
$1,037,780
Cap Rate 7%
$741,271
Cap Rate 9%
$576,544
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Domino's Pizza
Dining
3,853 visits/mo
0.5 miles
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 - Restaurant asset with an established tenant, updated building systems, and a triple-net lease structure.
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: 4,284‑square‑foot restaurant property on a 0.5769‑acre site; Long‑term NNN lease with established restaurant tenancy; Recent exterior facade updates and newer roof
