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24 Newport Ave 4,204 SF 100% Leased Office Building Pawtucket, RI 02861 $495,000 ($117.75/SF)

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Executive Summary

Conway Commercial Group is representing the sale of this mixed-use property located on the very busy corridor of Newport Avenue. The property consists of a first-floor office space currently leased to Jackson Hewitt Tax Services. The second floor is a 2-bedroom apartment with living room, eat-in kitchen and tile bathroom. Additionally, there is a 2-car garage currently occupied by the residential tenant. Ample parking exists in both the front and rear of the property.
Significant development has and continues to occur along this busy retail corridor.

Property Facts

Sale Type

Investment or Owner User

Property Type

Office

Property Subtype

Office/Residential

Building Size

4,204 SF

Building Class

Year Built/Renovated

1948/2020

Price

$495,000

Price Per SF

$117.75

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

1,207 SF

Slab To Slab

10’

Building FAR

0.32

Lot Size

0.30 AC

Zoning

RS - Mixed use. Residential and commercial.

Parking

8 Spaces (1.9 Spaces per 1,000 SF Leased)

24 Hour Access

Bus Line

Major Tenants

Professional, Scientific, and Technical Services
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Triple Net
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Jackson Hewitt Tax Service is one of the largest in-person tax preparation companies in the United States, providing assisted individual income tax services to millions of customers each year. Founded in 1982, the company specializes in federal and state tax return preparation, electronic filing, amended returns, extensions, and tax-related support services for individual filers. Jackson Hewitt operates through a franchise-based model, with a nationwide network of more than 5,000 franchised and company-owned locations across the United States. A significant portion of its footprint is located within high-traffic retail environments, including more than 2,600 locations inside Walmart stores, as well as neighborhood storefronts and shopping centers.