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5 Hanover Ave & 1143 Newport ave, Pawtucket 5 Hanover Ave 6,284 SF 100% Leased Retail Building Pawtucket, RI 02861 $675,000 ($107.42/SF)
INVESTMENT HIGHLIGHTS
- Heavy Daytime Traffic
- Mixed Use
- Open Commercial Floorplan
EXECUTIVE SUMMARY
5 Hanover Ave (also addressed as 1143 Newport Avenue) is a legal three-unit mixed-use property in Pawtucket consisting of two residential apartments and one commercial unit with flexible configurations. The first-floor commercial space is currently divided into two areas, including a 1,600 sq. ft. unit fully renovated in 2018 with updated mechanicals, modern finishes, and large storefront windows; this space also has two separate mechanical systems allowing for further subdivision. An additional commercial area, formerly a florist, includes its own basement and private entrance. The two apartments, accessed from the rear stairwells, consist of a studio and a one-bedroom, both in need of updates. All separately metered utilities. The property offers paved off-street parking, a one-car garage with electricity, and is being sold with an additional parcel (Map 12, Lot 737), an RT-zoned 3,392 sq. ft. vacant lot located directly behind the building. Buyer to perform their own due diligence regarding future development potential.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,284 SF
Building Class
C
Year Built/Renovated
1900/2018
Price
$675,000
Price Per SF
$107.42
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.69
Lot Size
0.21 AC
Zoning
Mixed Use Retail - Mixed use retail. Zoning Compliance letter available
Parking
15 Spaces
AMENITIES
- Signage
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | PAWT-000012-000000-000736 | Improvements Assessment | $195,300 |
| Land Assessment | $112,800 | Total Assessment | $308,100 |
PROPERTY TAXES
Parcel Number
PAWT-000012-000000-000736
Land Assessment
$112,800
Improvements Assessment
$195,300
Total Assessment
$308,100
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5 Hanover Ave & 1143 Newport ave, Pawtucket | 5 Hanover Ave
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