Triple Net Leased Restaurant
176 Columbus Avenue Pawtucket, RI 02860
176 Columbus Avenue, Pawtucket, RI, 02860
$850,000
For Sale
$850,000
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 Market92
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 Checked: Jul 17 at 2:17 am
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)
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Roast House Pub ...
Restaurant
Similar For Sale Nearby
FAQs
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)
