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    422 Pawtucket Ave Pawtucket, RI 02860-5697
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    Property profile & analytics

    422 Pawtucket Ave Pawtucket, RI 02860-5697

    View on Map
    • Investment properties
    • 11,628 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US76-0391317
    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.
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 422 Pawtucket Ave

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property size
    11,628 SF
    Zone code
    RT
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    PAWT M:64 L:0848
    APU
    PAWTM64L0848

    Description

    This exceptional mixed-use investment opportunity is located at 422 Pawtucket Avenue, Pawtucket, Rhode Island, 02860. The property, built in 1940, encompasses a substantial 11,628 square feet situated on a 10,018 square foot lot. The building consists of two units, offering a blend of residential and commercial spaces. The residential component includes a total of eleven units, comprising two one-bedroom, seven two-bedroom, and two three-bedroom apartments. In addition to the residential units, there are two commercial units, providing versatile options for business ventures. Four garages are also included on the property, adding further value and utility. This property presents a compelling investment prospect with significant income potential. Detailed financial information, including rent rolls and expense reports, is readily available upon request. The property's prime location in Pawtucket, Rhode Island offers excellent access to local amenities and transportation networks. This is a rare opportunity to acquire a well-established mixed-use property with a proven track record. The asking price for this remarkable investment is $2,199,900. Don't miss out on this chance to secure a profitable addition to your portfolio. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,159,000
      Market price range: $944k - $2.02M
      AI Estimate
      $936,000
      Market price range: $585k - $1.72M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,460,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3935
    Latitude
    41.8635
    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
    $112,900
    $559,200
    $672,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $1,695,000
      16,335 SF

      2 Bayley St

      OFFICE/RESIDENTIAL (MIXED USE) • 16,335 SF
      2 Bayley St, Pawtucket, RI 02860-4093
      View Details
    • Value Estimation
      $620,000
      3,816 SF

      156 Bnd St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,816 SF
      156 Bnd St, Pawtucket, RI 02860-4512
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    • Value Estimation by Request
      0.24 Acres

      49 Coyle Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.24 Acres
      49 Coyle Ave, Pawtucket, RI 02860-1187
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    • Value Estimation by Request
      4,046 SF

      142 Cottage St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,046 SF
      142 Cottage St, Pawtucket, RI 02860-3007
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    • Value Estimation by Request
      4,056 SF

      584 Smithfield Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,056 SF
      584 Smithfield Ave, Pawtucket, RI 02860-1683
      View Details
    • Value Estimation by Request
      1,747 SF

      109 Beechwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,747 SF
      109 Beechwood Ave, Pawtucket, RI 02860-5409
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      28,442 SF

      Approved 22-Unit Development Site

      Approved 22-unit development site near transportation and amenities.
      167 George St, Pawtucket, RI 02860
      View Details
    • $999,000

      Fairlawn Pawtucket Mixed-Use Property

      Four-unit mixed-use property in Pawtucket's Fairlawn community.
      458 Smithfield Ave, Pawtucket, RI 02860
      View Details
    • $1,375,000
      Pending

      Pawtucket Mixed-Use Investment Opportunity

      Vacant mixed-use building in downtown Pawtucket, ready for transformation.
      216 Main St, Pawtucket, RI 02860
      View Details
    • $1,375,000
      9,798 SF

      Mixed-Use Building in Downtown Pawtucket

      Vacant mixed-use building with retail and residential units for sale.
      216 Main St, Pawtucket, RI 02860
      View Details
    • $2,500,000
      24,000 SF

      Pawtucket Commercial Property with Steeple

      Five-level, 24,000 SF special use/religious property for sale.
      91 Cottage St, Pawtucket, RI 02860
      View Details
    • $650,000
      Pending

      Pawtucket Commercial Investment Opportunity

      Four-unit commercial property in high-traffic Pawtucket location.
      33 Summer St, Pawtucket, RI 02860
      View Details

    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
    • Contact for pricing

      Design Exchange Office Space

      Office suites with high ceilings and modern amenities for rent.
      161 Exchange 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
    • $6 SF/Yr
      60,000 SF

      Pawtucket Mill Style Building

      Industrial zoned mill building with freight elevator near I-95.
      89 Dunnell Ave, Pawtucket, RI 02860
      View Details
    • $6 SF/Yr

      Pawtucket Office Space For Rent

      Second floor office unit with ample parking available for rent.
      7 Dunnell Ln, Pawtucket, RI 02860
      View Details
    • $16 SF/Yr

      Pawtucket Warehouse Space For Rent

      1,500 SF warehouse space with I-95 access.
      7 Dunnell Ln, Pawtucket, RI 02860
      View Details
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    Pawtucket, RI 02860-5697
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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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