Leased Office Space with Class A
2-700 School St Pawtucket, RI 02860
2-700 School St, Pawtucket, RI, 02860
$1,200,000
For Sale
$1,200,000
Office space with Class A buildout and new HVAC installed in 2024, currently leased with about four years remaining.
Property Size7,920 SF
Price / SF$151.52
Days on Market71
Property Features for 2-700 School St
General Information
- Standard status
- Active
- Size
- 7,920 SF
Listing agency
Spinnaker Group Inc.
(401) 603-8511
Listed by
Andrew Kushner
(401) 603-8511
Source
Exprealty
Added: May 12 Updated: Jul 21 at 3:26AM Checked: Jul 21 at 3:26AM
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 Spinnaker Group Inc.
Investment Insights
Based on property information with market context.
This leased office space features a Class A buildout and is described as very well maintained. A new HVAC system was installed in 2024, supporting the property’s condition and day-to-day functionality.
The suite is leased to JBD/JGA, an architectural firm specializing in design work for country clubs, restaurants, and luxury homes along the East Coast. The tenant has occupied the space for many years, with about four years remaining on the current term.
Offered for sale at 2-700 School St in Pawtucket, Rhode Island, the property presents an occupied office asset with an established tenant and recent HVAC improvements.
The suite is leased to JBD/JGA, an architectural firm specializing in design work for country clubs, restaurants, and luxury homes along the East Coast. The tenant has occupied the space for many years, with about four years remaining on the current term.
Offered for sale at 2-700 School St in Pawtucket, Rhode Island, the property presents an occupied office asset with an established tenant and recent HVAC improvements.
Key Highlights
- Office space with Class A buildout, currently leased to JBD/JGA
- Tenant has occupied the space for many years, with about 4 years remaining on the current term
- New HVAC system installed in 2024
Local Financial Insights For Office B
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 | $158.7k | $20.04 |
| − Vacancy | −$22.2k | −$2.81 |
| EGI | $136.5k | $17.23 |
| − OpEx | −$34.1k | −$4.31 |
| NOI | $102.4k | $12.93 |
7,920 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,372 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,872 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Office space with Class A buildout and new HVAC installed in 2024, currently leased with about four years remaining.
Where is this office units located?
The property is located at 2-700 School St Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Office space with Class A buildout, currently leased to JBD/JGA; Tenant has occupied the space for many years, with about 4 years remaining on the current term; New HVAC system installed in 2024
