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    500 Mineral Spring Ave Pawtucket, RI 02860

    Sponsored
    For Sale
    $2,350,000

    2.18 Acres, High-Growth Area, RI

    Property size:
    1,330 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.18-acre mixed-use property in Pawtucket, Rhode Island, presents a compelling investment opportunity. Located at 500 Mineral Spring Avenue (APN 500MINERALSPRINGAVPAWT), this 95,202 square foot lot boasts a prime location on Route 15, offering easy access to Route 95 North and South. The property includes a 1,330 square foot building constructed in 1920, featuring 1 unit and 10 parking spaces. Its versatile zoning allows for a wide range of development possibilities, including self-storage, retail, commercial condos, office space, medical facilities, and affordable housing. This dynamic area is experiencing significant revitalization, with the upcoming addition of a new soccer stadium and a new MBTA commuter rail station, further enhancing its appeal and potential for future growth. The property's strategic location offers convenient access to Boston, Massachusetts, within an hour's commute via commuter rail. The property consists of several lots and plats (52) 384, 385, 386, 387, 388, 428 and (51) 002, 174, 213, providing flexibility for development plans. The asking price is $2,350,000. This is a rare chance to acquire a substantial property in a rapidly developing area with immense potential for significant return on investment.

    Property Features for 500 Mineral Spring Ave

    General Information

    Property type
    Retail properties
    Square Feet
    1,330 SF

    Building Details

    Year Built
    1920
    Buildings
    1
    Units
    1

    HighLights

    • $2,350,000 asking price.
    • 2.18‑acre mixed‑use land parcel in Pawtucket, RI.
    • 1,330 square feet, 1 building, 10 parking spaces.
    • Located on Route 15, minutes from Route 95.
    • Potential uses include self‑storage, retail, commercial condos, office space, medical, and affordable housing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4051596
    Latitude
    41.8731403

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    FAQs

    What type of property is this?
    Retail property - 2.18 Acres, High-Growth Area, RI
    Where is this retail property located?
    The property is located at 500 Mineral Spring Ave Pawtucket, RI.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: $2,350,000 asking price.; 2.18-acre mixed-use land parcel in Pawtucket, RI.; 1,330 square feet, 1 building, 10 parking spaces.
    Request Owner's contact information
    500 Mineral Spring Ave Pawtucket, RI 02860
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 Mineral Spring Ave Pawtucket, RI 02860
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