Mixed-Use Building in Downtown
216 Main Street Pawtucket Pawtucket, RI 02860
216 Main Street Pawtucket, Pawtucket, RI, 02860
$1,375,000
Pending
For Sale
$1,375,000
Pending
Vacant mixed-use building with retail and residential potential.
Property Size9,798 SF
Days on Market68
Property Features for 216 Main Street Pawtucket
General Information
- Standard status
- Pending
- Size
- 9,798 SF
Building Details
- Year Built
- 1901
Listing agency
(508) 501-1443
Listed by
Jadaiya Stanley
(508) 501-1443
Source
Milestonerealtyinc
Added: May 16 Updated: Jul 10 at 1:42PM Checked: Jul 21 at 3:32AM
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 Jadaiya Stanley
Investment Insights
Based on property information with market context.
This vacant mixed-use building, located in downtown Pawtucket, presents an investment opportunity for transformation. The property features two retail spaces and eight residential units. Situated in a commercial corridor, the building benefits from visibility, foot traffic, and access to public transportation, shops, and restaurants. The property, with a size of 9798 square feet, is positioned for a revitalization project. Construction can begin immediately to unlock rental income and long-term value. This building offers the chance to create a mixed-use destination in an up-and-coming downtown district.
Key Highlights
- High‑traffic downtown Pawtucket location with excellent visibility.
- Vacant mixed‑use building ready for immediate revitalization.
- Features two prime retail spaces and eight residential units.
Local Financial Insights For Mixed Use
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 | $205.8k | $21.00 |
| − Vacancy | −$20.6k | −$2.10 |
| EGI | $185.2k | $18.90 |
| − OpEx | −$69.4k | −$7.09 |
| NOI | $115.7k | $11.81 |
9,798 SF · lease $21.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,476 @ 7.0% cap · market cap 9.42%
Second Best
Mixed Use
$1.65M
$1.45M – $1.93M
NOI $115,739 @ 7.0% cap · market cap 8.42%
Theoretical Best
Multifamily LT 5
$2.33M
$2.04M – $2.72M
NOI $163,141 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Vacant mixed-use building with retail and residential potential.
Where is this mixed-use property located?
The property is located at 216 Main Street Pawtucket Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: High‑traffic downtown Pawtucket location with excellent visibility.; Vacant mixed‑use building ready for immediate revitalization.; Features two prime retail spaces and eight residential units.
