Retail Properties in Pawtucket, Rhode Island, offer a unique investment opportunity for those looking to capitalize on the city's rich history and diverse economy. With a population of approximately 75,000, Pawtucket provides a stable customer base for retail businesses. Retail Properties in Pawtucket can represent a variety of investments, including storefronts,shopping centers, and mixed-use developments. These properties can benefit from the city's amenities, such as Slater Memorial Park, which offers recreational facilities, and the Pawtucket Arts Collaborative, which showcases local art and culture. Additionally, Pawtucket's location near Providence and the Massachusetts border makes it an attractive location for businesses looking to serve a broader regional market. The city is also home to notable companies like Hasbro, which is headquartered in Pawtucket, and Fox Point Pickles, a pickling company with a strong local presence.
Pawtucket's Retail Properties are situated in a city with a mix of residential, commercial, and industrial areas, offering a range of opportunities for businesses to thrive. Nearby, Shopping Centers like the ones found on Newport Avenue, offer a variety of retail options for residents and visitors. Restaurants, such as those in the Downtown Pawtucket area, provide a range of dining options, from casual eateries to fine dining establishments. Office Properties, like the ones found in the Quality Hill section, offer a range of spaces for businesses, from small startups to established companies. Hotels, such as the ones near the Pawtucket/Central Falls train station, provide convenient accommodations for visitors. With a range of property types available, Pawtucket offers a diverse and dynamic market for investors and businesses alike. Currently, there are 18 Retail Properties available for sale in Pawtucket, with an average price per square foot of $307 USD and an average size of 10,308 square feet. The largest property available is 55,000 square feet, offering a range of possibilities for investors and businesses looking to establish a presence in the city.
What is the average cap rate for retail properties in Pawtucket?
When it comes to retail properties in Pawtucket, investors can expect an average cap rate of 6%, which is a key metric to consider when evaluating potential investments. For those new to commercial real estate investing, it's essential to understand what a cap rate is and how it's calculated, which is why we recommend checking out our article on what is a cap rate to get a better grasp of this important concept.
How do location and foot traffic affect retail property values?
In Pawtucket, Rhode Island, the location and foot traffic of retail properties significantly impact their values. For instance, retail properties situated near major transportation facilities, such as Interstate 95 and U.S. 1, or in areas with high foot traffic, like the Downtown Circulator, tend to have higher values due to increased visibility and accessibility, with an average price per square foot of $307 USD and an average size of 10,308 square feet.
