100% Leased Investment Opportunity | 200 Main St
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100% Leased Investment Opportunity 200 Main St
32,949 SF 100% Leased Office Building Pawtucket, RI 02860 $2,100,000 ($64/SF) 9.08% Cap Rate
Investment Highlights
- Marquee Downtown Office Building
- One Suite Recently Leased 9/1/24 (3,000SF)
- Stabilized Tenancy/Long Term History
- Will Be 100% Occupied by 10 Tenants
- Ample On-Site Dedicated Parking - Separate Lot
- Well Below Market Price/SF - Significant Upside
Executive Summary
Exceptional opportunity to own a marquee multi-tenant office building in downtown Pawtucket with a NOI of $190,752 as of September 2024. The current tenant roster is well rounded and totals 10 office suites with the one vacancy recently leased for 3 years. With some below market rents there is tremendous upside at $55.00/SF. Additionally, there is ample on site parking as an addition 19,770 square foot lot is included with the sale.
As a side note, this property can be purchased together with 2-4 Pleasant Street (2 Lots South) and can control all the parking.
As a side note, this property can be purchased together with 2-4 Pleasant Street (2 Lots South) and can control all the parking.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
32,949 SF
Building Class
B
Year Built
1970
Price
$2,100,000
Price Per SF
$64
Cap Rate
9.08%
NOI
$190,752
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
10,983 SF
Slab To Slab
10’
Building FAR
2.04
Land Acres
0.37 AC
Opportunity Zone
Yes
Zoning
CD
Parking
90 Spaces (2.73 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Atrium
- Banking
- Bus Line
- Property Manager on Site
- Restaurant
- Signage
Walk Score ®
Very Walkable (83)
-
Power Broker George Paskalis -
MG Commercial Real Estate
(401) 751-3200
x303
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100% Leased Investment Opportunity | 200 Main St
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