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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    198 Harrison St Pawtucket, RI 02860-2827

    • Investment properties
    • 3,822 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Jul 30, 2024
    $630,000
    Value Estimations
    $630,000
    Show details
    Cap Rate Potential
    7.2%
    Investment properties
    Location Intelligence
    Property ID
    US76-0015810
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 198 Harrison St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    3,822 SF
    Zone code
    RM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PAWT M:52 L:0764
    APU
    PAWTM52L0764

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $630,000
      ML approach
      $630,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $750,000
      6.5%
      $695,000
      7%
      $645,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $436,000
      Market price range: $310k - $664k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $480,000
      Current use
      OFFICE BUILDING
      $730,000
      Change: +53% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3964
    Latitude
    41.8737
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $52,300
    $200,900
    $253,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $640,000
      8.40 Acres

      560 Mineral Spg Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 8.40 Acres
      560 Mineral Spg Ave, Pawtucket, RI 02860-3363
      View Details
    • Value Estimation by Request
      3,174 SF

      857 Mineral Spg Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,174 SF
      857 Mineral Spg Ave, Pawtucket, RI 02860-3399
      View Details
    • Value Estimation by Request
      1,168 SF

      533 Weeden St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,168 SF
      533 Weeden St, Pawtucket, RI 02860-1625
      View Details
    • Value Estimation by Request
      2,672 SF

      215 Cottage St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,672 SF
      215 Cottage St, Pawtucket, RI 02860-3026
      View Details
    • Value Estimation by Request
      4,098 SF

      140 Dexter St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,098 SF
      140 Dexter St, Pawtucket, RI 02860-1918
      View Details
    • Value Estimation by Request
      5,558 SF

      268 Ww Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,558 SF
      268 Ww Ave, Pawtucket, RI 02860-3741
      View Details

    Similar Nearby for Sale

    • $1,375,000
      0.07 Acres

      Pawtucket Mixed-Use Investment Opportunity

      Vacant mixed-use building in downtown Pawtucket, ready for transformation.
      216 Main St, Pawtucket, RI 02860
      View Details
    • $1,500,000
      0.10 Acres

      Pawtucket Mixed-Use Development Opportunity

      Mixed-use property with retail and residential development potential in Pawtucket.
      255 Main St, Pawtucket, RI 02860
      View Details
    • New
      $999,000
      0.06 Acres

      Renovated Mixed-Use Property, Pawtucket

      Completely renovated mixed-use property with modern upgrades and excellent rental potential.
      458 Smithfield Ave, Pawtucket, RI 02860
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    • Contact for pricing
      55,000 SF

      Pawtucket Times Building: Redevelopment Gem

      55,000 SF Flex Space, Opportunity Zone
      23 Exchange St, Pawtucket, RI 02860
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    • $2,350,000
      1,330 SF

      Pawtucket Mixed-Use Development

      2.18 Acres, High-Growth Area, RI
      500 Mineral Spring Ave, Pawtucket, RI 02860
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    • $2,199,900
      11,628 SF

      Pawtucket Avenue Mixed-Use Investment

      Prime Pawtucket Mixed-Use Property, High ROI Potential
      422 Pawtucket Ave, Pawtucket, RI 02860
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    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Riverfront Retail Space in Pawtucket

      Mixed-use development with retail space and sports & entertainment venues.
      45 Division St, Pawtucket, RI 02860
      View Details
    • $5 SF/Yr
      60,000 SF

      Pawtucket Industrial Space For Lease

      60,000 SF industrial space available in Pawtucket, Rhode Island.
      89 Dunnell Ln, Pawtucket, RI 02860
      View Details
    • Contact for pricing
      66,400 SF

      Pawtucket Industrial Space For Lease

      Manufacturing space, 2,000-15,800 sq ft available.
      301 Concord St, Pawtucket, RI 02860
      View Details
    • $6 SF/Yr
      46,400 SF

      Pawtucket Warehouse Space Available

      46,400 SF warehouse with loading docks and office space.
      60 Delta Dr, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Pawtucket Commercial Land for Rent

      Commercial land with strong location and good highway access.
      Walcott St, Pawtucket, RI 02860
      View Details
    • $6 SF/Yr
      81,130 SF

      Prime Providence County Industrial Space

      81,130 SF Manufacturing/Warehouse
      7 Dunnell Ln, Pawtucket, RI 02860
      View Details
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    198 Harrison St
    Pawtucket, RI 02860-2827
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    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
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