Six-Unit Brick Retail
For Sale
$1,150,000
6-570 Smithfield Ave, Pawtucket, RI 02860
Brick retail center with two available spaces, including one with restaurant kitchen and dining improvements.
Property Size7,380 SF
Price / SF$155.83
Days on Market13
Property Features for 6-570 Smithfield Ave
General Information
Standard status
Active
Size
7,380 SF
Occupancy
67%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,415
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(401) 333-0010
Listed By:
Beatriz Giron
(401) 263-2840
Source:
Exprealty
Added: Sep 10
Changed: Sep 21
Last Checked: Sep 21 at 2:14PM
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 retail center at 6-570 Smithfield Ave includes a classic brick exterior and large storefront windows. Four of the six commercial spaces are occupied, while two are available for new users. One vacant suite includes kitchen facilities and a dining area from its prior restaurant operation; the other is positioned for a café, bakery, or comparable retail concept.
The property is near a train station and provides access to Routes 95 and 146. Its configuration supports multiple commercial occupants within a single building, with existing rental occupancy and specialized improvements in one available space.
The property is near a train station and provides access to Routes 95 and 146. Its configuration supports multiple commercial occupants within a single building, with existing rental occupancy and specialized improvements in one available space.
Key Highlights
- 6‑unit commercial building with 7,380 square feet
- Four of six commercial spaces are occupied
- Two available spaces, including one with kitchen facilities and dining area
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
Current Use
Lease Details
66.7%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
45k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
Dunkin' Donuts
Dining
13,605 visits/mo
0.3 miles
Speedway
Shops & Services
12,135 visits/mo
0.3 miles
Burger King
Dining
11,763 visits/mo
0.2 miles
Citgo
Shops & Services
6,209 visits/mo
0.3 miles
CubeSmart Self Storage
Shops & Services
632 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Brick retail center with two available spaces, including one with restaurant kitchen and dining improvements.
Where is this strip mall located?
The property is located at 6-570 Smithfield Ave 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: 6‑unit commercial building with 7,380 square feet; Four of six commercial spaces are occupied; Two available spaces, including one with kitchen facilities and dining area
