Single-Tenant O'Reilly Auto
For Sale
Contact for pricing
350 Cottage St., Pawtucket, RI 02860
Single-tenant O’Reilly Auto Parts property with corporate-backed rent.
Property Size7,225 SF
Price / SF$349.07
Days on Market149
Property Features for 350 Cottage St.
General Information
Standard status
Active
Size
7,225 SF
Property subtype
Retail
Lease Type
NN
Net Operating Income
$145,000
Building Details
Year Built
2018
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Bang Realty
(888) 737-2264
Listed By:
Brian Brockman · License #177814
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Jul 17 at 7:59AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This commercial real estate property is a single-tenant building currently occupied by O'Reilly Auto Parts. The property is suitable for auto shops, automotive businesses, retail, and specialty purposes. The tenant's rent is backed by a corporate entity. The building has a property size of 7,225 square feet.
Key Highlights
- Single‑tenant property
- O’Reilly Auto Parts tenant
- Corporate‑backed rent
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
$81,567
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
3.23%
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%
$1,631,340
$1.6M
Cap Rate 7%
$1,165,243
$1.2M
Cap Rate 9%
$906,300
$906.3K
Market Conditions
NOI Build-Up for 7,225 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
$130.1K $18.00/SF
− Vacancy
−$13.5K −$1.87/SF
EGI
$116.5K $16.13/SF
− OpEx
−$35.0K −$4.84/SF
NOI
$81.6K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,631,340
Cap Rate 7%
$1,165,243
Cap Rate 9%
$906,300
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,567 @ 7.0% cap · market cap 3.23%
Second Best
Industrial
$538.6K
$471.3K – $628.4K
NOI $37,704 @ 7.0% cap · market cap 1.50%
Theoretical Best
Multifamily LT 5
$1.72M
$1.50M – $2.01M
NOI $120,300 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,683
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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.
Similar Off Market Nearby
- Crown Collision Center — 180 Broadway, Pawtucket, RI 02860
- PSC Parts - Pascale Service Corporation — 51 Delta Dr, Pawtucket, RI 02860
- Triton Collision Center — 352 Walcott St, Pawtucket, RI 02860
- Auto Glass Fitters — 2 Delta Dr, Pawtucket, RI 02860
- Cristian Towing LLC — 10 McHale Ct, Pawtucket, RI 02860
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant O’Reilly Auto Parts property with corporate-backed rent.
Where is this auto shop located?
The property is located at 350 Cottage St. Pawtucket, RI.
What is the asking price?
The asking price for this property is $2,522,000.
What are key features of this property?
This property features: Single‑tenant property; O’Reilly Auto Parts tenant; Corporate‑backed rent
