Pawtucket Office Space
700 School Street 2 Pawtucket Pawtucket, RI 02860
700 School Street 2 Pawtucket, Pawtucket, RI, 02860
$1,200,000
For Sale
$1,200,000
Tenant-occupied office space with Class A buildout and long-term lease.
Property Size7,920 SF
Price / SF$151.52
Days on Market68
Property Features for 700 School Street 2 Pawtucket
General Information
- Standard status
- Active
- Size
- 7,920 SF
Building Details
- Year Built
- 2008
Listing agency
(508) 501-1443
Listed by
Crystal Silva
(508) 501-1443
Source
Milestonerealtyinc
Added: May 15 Updated: Jul 10 at 1:42PM Checked: Jul 21 at 3:20AM
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 Crystal Silva
Investment Insights
Based on property information with market context.
This commercial property in Pawtucket, Rhode Island, presents an investment opportunity with a tenant in place. The property, consisting of 7,920 square feet of office space, is currently leased to JBD/JGA, an architectural firm specializing in design work for country clubs, restaurants, and luxury homes. The tenant has occupied the space for several years and has approximately 4 years remaining on the current lease term. The space features a Class A buildout and is well-maintained. A new HVAC system was installed in 2024.
Key Highlights
- High capitalization rate (nearly 10 cap)
- Stable, long‑term tenant (JBD/JGA architectural firm) with 4 years remaining on the lease
- Class A buildout and well‑maintained space
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.7k | $20.04 |
| − Vacancy | −$22.2k | −$2.81 |
| EGI | $136.5k | $17.23 |
| − OpEx | −$34.1k | −$4.31 |
| NOI | $102.4k | $12.93 |
7,920 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.71M
NOI $102,372 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,872 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Tenant-occupied office space with Class A buildout and long-term lease.
Where is this office units located?
The property is located at 700 School Street 2 Pawtucket Pawtucket, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High capitalization rate (nearly 10 cap); Stable, long‑term tenant (JBD/JGA architectural firm) with 4 years remaining on the lease; Class A buildout and well‑maintained space
