Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    240 Main Pawtucket, RI 2860

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.00 SF/Yr

    Renovated commercial space in downtown Pawtucket, move-in ready.

    Type:Commercial
    Property size:
    3,037 SF
    Added:
    Mar 24, 2026
    Days on Market:
    23
    Last Refresh:
    Apr 1 at 9:02 pm

    Property Features for 240 Main

    General Information

    Standard status
    Active
    Size
    3,037 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    THE INNOVENTURE TEAM

    Listing agent THE INNOVENTURE TEAM

    Listing office CENTURY 21 VISIONARY GROUP

    Listing date Mar 24, 2026

    Source Corcoran

    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 CENTURY 21 VISIONARY GROUP

    Overview

    Downtown Pawtucket Commercial Space

    Located at 240A Main St in downtown Pawtucket, this renovated commercial space offers a prime opportunity for various business uses. The property, previously a hair salon, is suitable for personal care services and adaptable to other business concepts. It features on-site parking and storage space. The layout is designed for efficiency and convenience. Situated in a high-visibility area with foot and vehicle traffic, this 3037-square-foot space is move-in ready.
    Location Intelligence

    Current Use by Public Records

    Melissa Coiffures & Boutique Hair Salon

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3853328
    Latitude
    41.8773585

    Nearby Similar for Lease

    • $1.00/mo

      Downtown Pawtucket Commercial Space

      Renovated, versatile space suitable for various business concepts.
      244 Main, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Pawtucket Warehouse Space for Lease

      Versatile industrial space ideal for storage, distribution, or light manufacturing.
      170 Armistice, Pawtucket, RI 02860
      View Details
    • $6/mo

      Pawtucket Office Space For Rent

      Second floor office unit with ample parking available for rent.
      7 Dunnell Ln #3Rear, Pawtucket, RI 02860
      View Details
    • $3/mo

      Updated Mill Space For Rent

      Versatile 12,000 sq ft space in updated historic mill.
      200 Conant, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Spacious Office Building in Quality Hill

      Premier office space in Quality Hill, Pawtucket, handicap accessible.
      174 Armistice, Pawtucket, RI 02860
      View Details
    • $12/mo

      Versatile Retail Space on Newport

      Open-concept retail space with high visibility and ample parking.
      852 Newport, Pawtucket, RI 02861
      View Details
    • Contact for pricing

      Creative Office Space for Rent

      Creative office space with high ceilings and natural light.
      161-163 Exchange St, Pawtucket, RI
      View Details
    • $16/mo

      Pawtucket Warehouse Space For Rent

      1,500 SF warehouse space with I-95 access.
      7 Dunnell Ln, Pawtucket, RI 02860
      View Details
    • $13/mo

      Versatile Commercial Space Available

      Commercial space featuring multiple suites, suitable for various businesses.
      20 Rhode Island #2C, Pawtucket, RI 02860
      View Details
    • $6/mo

      Industrial Space Available For Lease

      60,000 SF industrial space available for lease in Pawtucket.
      89-93 Dunnell Ln, Pawtucket, RI 02860
      View Details
    • $15/mo

      Pawtucket Restaurant Space For Lease

      Restaurant space for lease on busy Newport Avenue.
      223 Newport, Pawtucket, RI 02861
      View Details
    • Contact for pricing

      Pawtucket Flex Space For Rent

      First floor flex space with open area and office.
      99 S Bend St, Pawtucket, RI
      View Details

    FAQs

    What type of property is this?
    Retail space - Renovated commercial space in downtown Pawtucket, move-in ready.
    Where is this retail space located?
    The property is located at 240 Main Pawtucket, RI.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Pawtucket location with **high visibility and steady traffic**; **Move‑in ready, renovated commercial space**; Ample on‑site parking
    (401) 380-6020
    We can help!
    Listing Contact
    THE INNOVENTURE TEAM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!