Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    589 Pawtucket Ave Pawtucket Ave Pawtucket, RI 02860
    Back to Search
    Property profile & analytics

    589 Pawtucket Ave Pawtucket Ave Pawtucket, RI 02860

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 589 Pawtucket Ave Pawtucket Ave

    Year built
    1940
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 589 Pawtucket Avenue in Pawtucket, Rhode Island, presents a unique investment opportunity. Situated on a substantial 10,434 square foot lot, this property boasts a 2,000 square foot, two-story building constructed in 1940. Currently operating as an automotive business, the property holds active licenses for auto wrecking and salvage, junk auto sales, and auto repairs, providing a strong foundation for continued operation in this established industry. The property's zoning allows for a variety of commercial uses, making it adaptable to a range of business ventures. The building's layout includes a main structure and an office space, offering flexibility for different operational needs. Located on the border of Providence's East Side (North Main Street) and Pawtucket's Oak Hill, this property benefits from high visibility and convenient access to major transportation routes. The asking price is $599,000, with seller financing exclusively available. This is a rare opportunity to acquire a well-established commercial property with significant potential in a desirable Rhode Island location. The property consists of one building and is zoned for commercial use. The zip code is 02860.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3996
    Latitude
    41.8578

    Comparable in this City

    • Value Estimation by Request

      54 Nashua St Nashua St

      Individual retail properties
      54 Nashua St Nashua St, Pawtucket, RI 02860
      View Details
    • Value Estimation by Request
      4,386 SF

      457 Smithfield Ave

      Day care centers • 4,386 SF
      457 Smithfield Ave, Pawtucket, RI 02860
      View Details
    • Value Estimation by Request

      60 Reservoir Ave

      Automotive properties
      60 Reservoir Ave, Pawtucket, RI 02860
      View Details
    • Value Estimation by Request

      514 Smithfield Ave

      Churches & religious facilities
      514 Smithfield Ave, Pawtucket, RI 02860
      View Details
    • Value Estimation by Request

      129 Warren Ave Warren Ave

      Distribution properties
      129 Warren Ave Warren Ave, Pawtucket, RI 02860
      View Details
    • Value Estimation by Request

      42 Dexter St Dexter St

      Automotive properties
      42 Dexter St Dexter St, Pawtucket, RI 02860
      View Details

    Similar Nearby for Sale

    • $325,000

      Pawtucket Flex Space Condominium

      New commercial condominium with flexible uses and convenient location.
      579 Weeden St, Pawtucket, RI 02860
      View Details
    • $325,000
      1,625 SF

      Pawtucket Flex Space Condominium

      New 1625 sq ft flex space condominium for sale.
      579 Weeden St, Pawtucket, RI 02860
      View Details
    • $1,500,000
      14,421 SF

      Downtown Pawtucket Commercial Investment Opportunity

      Four commercial units in downtown Pawtucket with income potential.
      238 Main St, Pawtucket, RI 02860
      View Details
    • $2,522,000
      7,225 SF

      Single-Tenant O'Reilly Auto Parts

      Single-tenant O’Reilly Auto Parts property with corporate-backed rent.
      350 Cottage St, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Automotive Business Opportunity in Pawtucket

      Automotive business with licenses on the East Side of Providence.
      54 Nashua St Nashua St, Pawtucket, RI 02860
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,000 SF

      Pawtucket Commercial Space For Lease

      2,000 SF flex space ideal for various business operations.
      103 Blackstone St, Providence, RI 02860
      View Details
    • $6 SF/Yr

      Industrial Space Available For Lease

      60,000 SF industrial space available for lease in Pawtucket.
      89-93 Dunnell Ln, Pawtucket, RI 02860
      View Details
    • $0.54 SF/Yr
      5,310 SF

      Downtown Pawtucket Commercial Space

      Commercial space in downtown Pawtucket with parking and storage.
      238 Main St, Pawtucket, RI 02860
      View Details
    • $1.00 SF/Yr
      3,037 SF

      Downtown Pawtucket Commercial Space

      Renovated commercial space in downtown Pawtucket, move-in ready.
      240 Main St, Pawtucket, RI 02860
      View Details
    • $13 SF/Yr
      1,800 SF

      Versatile Commercial Space Available

      Commercial space featuring multiple suites, suitable for various businesses.
      20 Rhode Island Ave, Pawtucket, RI 02860
      View Details
    • $21 SF/Yr

      Versatile Commercial Space Available

      Adaptable commercial space near future soccer complex.
      310 East Ave, Pawtucket, RI 02860
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    589 Pawtucket Ave Pawtucket Ave
    Pawtucket, RI 02860
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    589 Pawtucket Ave Pawtucket Ave, Pawtucket, RI, 02860
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!