Six-Unit Brick Strip
New
For Sale
$1,150,000
570 Smithfield #6, Pawtucket, RI 02860
Six commercial suites with storefront windows, multiple operating tenants, and restaurant-ready space.
Property Size7,380 SF
Price / SF$155.83
Days on Market4
Property Features for 570 Smithfield #6
General Information
Standard status
Active
Size
7,380 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,415
Amenities
Central air
Central Air Cooling
Forced Air Heating
Building Details
Year Built
1925
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
COLDWELL BANKER REALTY
(401) 333-0010
Listed By:
BEATRIZ GIRON
(401) 263-2840
Source:
Corcoran
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 12 at 2:30PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This six-unit strip mall in a brick building dates to 1925 and includes large storefront windows suited to customer-facing commercial uses. Four suites are occupied by businesses, while two spaces are available for new occupancy. One available suite was formerly a full-service restaurant and retains kitchen facilities and a dining area. The other vacant space can accommodate a café, bakery, or similar operation.
The property is located near a train station with access to Routes 95 and 146. Its address is 570 Smithfield #6 in Pawtucket, Rhode Island. The existing mix of occupied and available suites supports a range of retail, food-service, and other storefront uses, subject to applicable requirements.
The property is located near a train station with access to Routes 95 and 146. Its address is 570 Smithfield #6 in Pawtucket, Rhode Island. The existing mix of occupied and available suites supports a range of retail, food-service, and other storefront uses, subject to applicable requirements.
Key Highlights
- Six‑unit commercial building constructed in 1925
- Four of six commercial spaces are occupied
- Two available suites, including a former full‑service restaurant space
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
$83,317
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
7.24%
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%
$1,666,340
$1.7M
Cap Rate 7%
$1,190,243
$1.2M
Cap Rate 9%
$925,744
$925.7K
Market Conditions
NOI Build-Up for 7,380 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
$132.8K $18.00/SF
− Vacancy
−$13.8K −$1.87/SF
EGI
$119.0K $16.13/SF
− OpEx
−$35.7K −$4.84/SF
NOI
$83.3K $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%
$1,666,340
Cap Rate 7%
$1,190,243
Cap Rate 9%
$925,744
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,317 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.76M
$1.54M – $2.05M
NOI $122,881 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Dining 5%
Cumberland Farms
Shops & Services
14,383 visits/mo
0.2 miles
Family Dollar
Shops & Services
8,416 visits/mo
0.1 miles
SUBWAY
Dining
1,264 visits/mo
0.5 miles
Citizens Bank
Shops & Services
600 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Strip mall - Six commercial suites with storefront windows, multiple operating tenants, and restaurant-ready space.
Where is this strip mall located?
The property is located at 570 Smithfield #6 Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six‑unit commercial building constructed in 1925; Four of six commercial spaces are occupied; Two available suites, including a former full‑service restaurant space
