Pawtucket Mixed-Use Investment
460 Smithfield Avenue, Pawtucket, RI 02860
New
MULTI_FAMILY - Pawtucket, RI
Type:Apartment
Property size:
4,968 SFLot size:
0.06 AcresPrice / SF:
$200/SF- Added:
- May 27, 2026
- Days on Market:
- 1
- Last Refresh:
- May 27 at 7:06 am
Property Features for 460 Smithfield Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- RT
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bathroom 5, Bedroom 7, Bedroom 9, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Basement, Bathroom 2, Bedroom 6, Bedroom 8, Bathroom 4
- Parking
- 3
- Parking features
- Garage
- Interior features
- Cathedral Ceilings
- Basement
- Unfinished, Full, Storage Space
- Appliances
- Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 4,968 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3602
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Natural Gas
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Vinyl
- Building materials
- Vinyl Siding
Listing agent April Holland (401) 333-4900
Listing office Keller Williams Leading Edge 28 Thurber Boulevard, Lincoln, RI (401) 333-4900
Listing date May 27, 2026
MLS# 1413656
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Completely renovated 4‑unit mixed‑use property with new exterior, interior, structure, and roof.
- $10,000 seller concession towards buyer's closing costs.
- Prime location in Fairlawn, Pawtucket, minutes from the new train station and near Tidewater Landing Soccer Stadium and Pawtucket Commons.
- Modern upgrades in all residential units, including quartz countertops, large kitchen islands, stainless steel appliances, dishwashers, and in‑unit laundry hookups.
- Features a fully accessible medical office space and a mix of residential units (one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom townhouse).
- Full‑size basement provides generous storage and utility space.
Overview
Located in the Fairlawn community of Pawtucket, this 4-unit mixed-use property offers a prime location with excellent visibility and convenience. The property is situated minutes from the new train station and near the anticipated Tidewater Landing Soccer Stadium and Pawtucket Commons. The first level features a fully accessible medical office space, along with a one-bedroom apartment. The second level includes a two-bedroom unit and a townhouse-style three-bedroom apartment that extends to the third floor. All residential units have been upgraded with modern features, including quartz countertops, large kitchen islands, stainless steel appliances, dishwashers, and in-unit laundry hookups. The property has been renovated from top to bottom, with a new exterior, interior design, structure, and roof. A full-size basement provides storage and utility space. The property, situated on a 0.06-acre lot, offers outstanding rental potential, a strong business opportunity, and appeal for owner-occupants. The property size is 4968 square feet. Sellers are offering a $10,000 seller concession towards buyer's closing costs with a good offer. The zoning is RT.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$919.1K
NOI $82,720 @ 9.00% cap · cautious / downside scenario
Moderate
$1.18M
NOI $82,720 @ 7.00% cap · market / base-case scenario
Aggressive
$1.65M
NOI $82,720 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.4k | $25.44 |
| − Vacancy | −$8.2k | −$1.65 |
| EGI | $118.2k | $23.79 |
| − OpEx | −$35.5k | −$7.14 |
| NOI | $82.7k | $16.65 |
4,968 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,720 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$937.9K
$820.6K – $1.09M
NOI $65,650 @ 7.0% cap · market cap 6.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Location Insight
- Map
- Local Demand
- City
- Pawtucket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.414501
- Latitude
- 41.873545
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Renovated 4-unit property with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 460 Smithfield Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Completely renovated 4‑unit mixed‑use property with new exterior, interior, structure, and roof.; $10,000 seller concession towards buyer's closing costs.; Prime location in Fairlawn, Pawtucket, minutes from the new train station and near Tidewater Landing Soccer Stadium and Pawtucket Commons.
