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

    890 Main St, Pawtucket, RI 02860

    View on Map
    • Commercial real estate
    Off-Market
    Property ID
    US76-0420376
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 890 Main St

    Year built
    1910
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a five-unit multifamily property located at 890 Main Street, Pawtucket, Rhode Island, 02860. Built in 1910, this property sits on a 4,685 square foot lot and comprises one building. The property features a mix of unit sizes, including one spacious three-bedroom apartment, two two-bedroom apartments, and two one-bedroom apartments. Currently, all units are month-to-month tenancies, offering immediate flexibility for the new owner. Importantly, current rental rates are below market value, presenting a significant opportunity to increase cash flow through market-rate adjustments. The property's convenient location offers easy access to major roadways and is just five minutes from the new Pawtucket train station, providing excellent commuting options for both the owner and tenants. The asking price for this prime investment property is $700,000. This represents a compelling opportunity to acquire a well-situated multifamily property in a developing Rhode Island city with significant potential for future appreciation and strong rental income. The property's existing structure provides a solid foundation for immediate income generation and long-term growth. Don't miss this chance to secure a valuable asset in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3988303
    Latitude
    41.8673492

    Comparable in this City

    • $1,700,000
      27,771 SF

      Landmark Property Reuse Opportunity

      Unique three-parcel property with adaptive reuse potential in urban location.
      30 Walcott 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
    • Contact for pricing
      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
    • $950,000
      4,284 SF

      Profitable NNN Leased Restaurant Investment

      High-visibility restaurant property with $90,000/year NNN lease in place.
      176 Columbus Ave, Pawtucket, RI 02860
      View Details
    • Contact for pricing
      27,771 SF

      Landmark Property Reuse Opportunity

      Unique property with adaptive reuse potential near Seekonk River.
      30 Walcott St Walcott St, Pawtucket, RI 02860
      View Details
    • Contact for pricing
      Pending

      Approved 22-Unit Development Site

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

    Similar Nearby for Sale

    • $1,700,000
      27,771 SF

      Landmark Property Reuse Opportunity

      Unique three-parcel property with adaptive reuse potential in urban location.
      30 Walcott 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
    • Contact for pricing
      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
    • $950,000
      4,284 SF

      Profitable NNN Leased Restaurant Investment

      High-visibility restaurant property with $90,000/year NNN lease in place.
      176 Columbus Ave, Pawtucket, RI 02860
      View Details
    • Contact for pricing
      27,771 SF

      Landmark Property Reuse Opportunity

      Unique property with adaptive reuse potential near Seekonk River.
      30 Walcott St Walcott St, Pawtucket, RI 02860
      View Details
    • Contact for pricing
      Pending

      Approved 22-Unit Development Site

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

    Similar Nearby for Lease

    • Contact for pricing
      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
    • $1.00 SF/Yr
      3,037 SF

      Downtown Pawtucket Commercial Space

      Renovated, versatile space suitable for various business concepts.
      244 Main St, Pawtucket, RI 02860
      View Details
    • $1.00 SF/Yr
      3,037 SF

      Pawtucket Commercial Space Available

      Commercial space available for rent in Providence County.
      240 Main St, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial property available for lease at 301 Concord St.
      301 Concord St, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Pawtucket RI, 6,000 SF Available

      6,000 SF available with highway visibility and easy access.
      301 Concord St, Pawtucket, RI 02860
      View Details
    • Contact for pricing

      Pawtucket Land for Lease

      3.5 acres of land available for lease in Pawtucket, RI.
      181 Concord St, 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.
    890 Main St
    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
    890 Main St, 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!