Pawtucket, Rhode Island, offers a unique opportunity for investors to capitalize on the city's diverse economy and rich history. With a population of approximately 75,000, Pawtucket is an attractive location for those looking to invest in multi-family properties. These properties can represent a range of investments, from small apartment buildings to larger complexes, offering a variety of options for investors. Pawtucket's amenities, infrastructure, and location make it an ideal place to invest in multi-family properties. The city is home to several major corporations, including Hasbro, and features a range of cultural attractions, such as the Pawtucket Arts Festival. Additionally, Pawtucket's proximity to Providence and its access to major highways make it an attractive location for both residents and businesses. The city's diverse economy, which includes industries such as healthcare, retail, and manufacturing, also contributes to its appeal as a place to invest in multi-family properties.
Pawtucket currently has 1 multi-family properties for sale, offering investors a range of options to choose from. The average price per square foot for these properties is $171 USD, with an average size of 9,899 square feet. The largest property available is 28,442 square feet. In addition to multi-family properties, Pawtucket also offers a range of other property types, including retail space, shopping centers, residential income homes, and office properties. For example, retail space is available in the city's downtown area, which features a mix of local shops and restaurants. Shopping centers, such as the ones located along Route 1, offer a range of retail options for residents. Residential income homes are also available throughout the city, providing investors with opportunities to generate rental income. Office properties, including those located in the city's downtown area, offer a range of options for businesses looking to establish a presence in Pawtucket. Overall, Pawtucket's diverse range of property types and its attractive location make it an ideal place to invest in real estate.
What is the average cap rate for multi-family properties in the Pawtucket market?
For investors looking to tap into the Pawtucket market, it's essential to understand the average cap rate for multi-family properties. According to current listings, the average cap rate for multi-family properties in Pawtucket is 5.75%, which can provide a solid return on investment; to learn more about how cap rates work, check out our article on what is a cap rate.
What should I know about financing options for buying an apartment building in Pawtucket?
When considering financing options for buying an apartment building in Pawtucket, it's essential to understand the local market and available financing solutions. With 1 available listings of multi-family properties, Pawtucket offers a range of investment opportunities. Here are key factors to consider:
- Average cap rates in Pawtucket are 5.75%, which can impact your financing options and investment returns.
- Commercial real estate loans (CRE loans), such as those discussed in our article at CRE loans, can provide financing solutions for apartment building purchases, with terms and rates varying based on factors like property value, income, and creditworthiness.
- Local lenders and financial institutions may offer more favorable terms or specialized knowledge of the Pawtucket market, making them worth exploring in addition to national lenders.
