Building Details

Year Built 1930

Listing Agency: INNOVATE Real Estate

Listed By: Filomena Silva · License #RES.0033998 Show Phone

Source: Alpernandmesenbourg

Added: Sep 4 Changed: Oct 11 Last Checked: Oct 7 at 12:57PM

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Investment Insights

Based on property information with market context.

This 4,846-square-foot mixed-use property, built in 1930, combines a remodeled first-floor commercial setting with three residential units. The commercial space includes a kitchen area, two half baths, decorative electric fireplace, architectural columns, updated flooring, bar and pendant lighting, and installed connections for TVs and speakers. Tables and chairs are excluded from the sale.

Each residential unit contains two bedrooms and includes a stove, refrigerator, and multiple updates. The property also provides a fire system and off-street parking. Its setting near shopping, restaurants, public transportation, highways, and other local amenities supports a range of commercial and residential occupancy possibilities.

Key Highlights

• 4,846 SF mixed‑use property built in 1930
• Remodeled first‑floor bar/lounge setting with kitchen space and two half baths
• Three residential units, each with 2 bedrooms, a stove, and a refrigerator

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,038

Cap Rate

7.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,280,760 $1.3M

Cap Rate 7%

$914,829 $914.8K

Cap Rate 9%

$711,533 $711.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,846 SF

Gross rent

$123.9K $25.56/SF

− Vacancy

−$7.4K −$1.53/SF

EGI

$116.4K $24.03/SF

− OpEx

−$52.4K −$10.81/SF

NOI

$64.0K $13.21/SF

Area

Providence County, RI

Vacancy

6.00%

Lease Rate

$25.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,280,760

Cap Rate 7%

$914,829

Cap Rate 9%

$711,533

Alternative Uses

Best Use

Multifamily LT 5

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,688 @ 7.0% cap · market cap 9.72%

Second Best

Apartment 5plus

$914.8K

$800.5K – $1.07M (±1% cap)

NOI $64,038 @ 7.0% cap · market cap 7.72%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

605 Broadway's Bar ... Bar & Pub

Suggested Use

Top Pick Real Estate Agency Electrical Service Skin Care Clinic Garden Center Locksmith Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

887

Businesses Nearby

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 Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three two-bedroom units accompany a finished first-floor commercial space.

Where is this mixed-use property located?

The property is located at 605 Broadway Pawtucket, RI.

What is the asking price?

The asking price for this property is $829,900.

What are key features of this property?

This property features: 4,846 SF mixed‑use property built in 1930; Remodeled first‑floor bar/lounge setting with kitchen space and two half baths; Three residential units, each with 2 bedrooms, a stove, and a refrigerator