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Montgomery Suites 69 Montgomery St 8,644 SF 100% Leased Office Building Pawtucket, RI 02860 $869,000 ($100.53/SF) 6.38% Cap Rate
Investment Highlights
- This is a clean, income-producing asset in a rapidly improving submarket, combining immediate return with measurable upside
- Owner-User – occupy while offsetting expenses with rental income
- Qualified Opportunity Zone
- Value-Add Investor – clear rent upside and repositioning potential
- Surrounded by ongoing redevelopment and adaptive reuse projects
Executive Summary
Prime Downtown Pawtucket Investment Opportunity – Strong In-Place Income + Upside
69 Montgomery Street presents a rare opportunity to acquire a stabilized commercial asset in the heart of downtown Pawtucket—one of Rhode Island’s fastest-growing urban markets. Offered at $869,000, the property delivers a 7.36% cap rate based on market rents and no vacancy, making it an ideal acquisition for investors seeking immediate cash flow with long-term appreciation potential.
Strategically located just minutes from the new MBTA commuter rail station, the property benefits from increased accessibility to Providence and Boston, driving demand from small businesses, professional users, and investors seeking value outside core metro pricing.
The asset features a flexible layout suitable for office, coworking, or creative suites, allowing for multiple leasing strategies. With market rents ranging from $18–$22/SF, there is clear upside through tenant turnover, suite reconfiguration, or positioning toward smaller, higher-rent users.
69 Montgomery Street presents a rare opportunity to acquire a stabilized commercial asset in the heart of downtown Pawtucket—one of Rhode Island’s fastest-growing urban markets. Offered at $869,000, the property delivers a 7.36% cap rate based on market rents and no vacancy, making it an ideal acquisition for investors seeking immediate cash flow with long-term appreciation potential.
Strategically located just minutes from the new MBTA commuter rail station, the property benefits from increased accessibility to Providence and Boston, driving demand from small businesses, professional users, and investors seeking value outside core metro pricing.
The asset features a flexible layout suitable for office, coworking, or creative suites, allowing for multiple leasing strategies. With market rents ranging from $18–$22/SF, there is clear upside through tenant turnover, suite reconfiguration, or positioning toward smaller, higher-rent users.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$85,040
|
$9.84
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$85,040
|
$9.84
|
| Taxes |
$10,434
|
$1.21
|
| Operating Expenses |
$19,159
|
$2.22
|
| Total Expenses |
$29,593
|
$3.42
|
| Net Operating Income |
$55,447
|
$6.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $85,040 |
| Annual Per SF | $9.84 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $85,040 |
| Annual Per SF | $9.84 |
| Taxes | |
|---|---|
| Annual | $10,434 |
| Annual Per SF | $1.21 |
| Operating Expenses | |
|---|---|
| Annual | $19,159 |
| Annual Per SF | $2.22 |
| Total Expenses | |
|---|---|
| Annual | $29,593 |
| Annual Per SF | $3.42 |
| Net Operating Income | |
|---|---|
| Annual | $55,447 |
| Annual Per SF | $6.41 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
8,644 SF
Building Class
C
Year Built
1910
Price
$869,000
Price Per SF
$100.53
Cap Rate
6.38%
NOI
$55,447
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,322 SF
Slab To Slab
10’
Building FAR
1.24
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
CG - General Use- Industrial - General
Property Use- Multi Tenant
Parking
12 Spaces (1.39 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Storage Space
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Cbm
- Services
- -
- -
- -
- Db Montgomery Group Llc
- Public Administration
- -
- -
- -
- Dennis Printing Co
- Administrative and Support Services
- -
- -
- -
- Fairfield CT
- Public Administration
- -
- -
- -
- Moreno Law Office
- -
- -
- -
- -
- Quick Solutions Cleaning, Inc
- Services
- -
- -
- -
- Red Service Llc
- Professional, Scientific, and Technical Services
- -
- -
- -
- V & R Digital Branding Agency
- Professional, Scientific, and Technical Services
- -
- -
- -
- V Financial Group
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Cbm | Services | - | - | - | ||
| Db Montgomery Group Llc | Public Administration | - | - | - | ||
| Dennis Printing Co | Administrative and Support Services | - | - | - | ||
| Fairfield CT | Public Administration | - | - | - | ||
| Moreno Law Office | - | - | - | - | ||
| Quick Solutions Cleaning, Inc | Services | - | - | - | ||
| Red Service Llc | Professional, Scientific, and Technical Services | - | - | - | ||
| V & R Digital Branding Agency | Professional, Scientific, and Technical Services | - | - | - | ||
| V Financial Group | - | - | - | - |
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Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | PAWT-000043-000000-000614 | Total Assessment | $467,800 |
| Land Assessment | $109,300 | Annual Taxes | $10,434 ($1.21/SF) |
| Improvements Assessment | $358,500 | Tax Year | 2025 |
Property Taxes
Parcel Number
PAWT-000043-000000-000614
Land Assessment
$109,300
Improvements Assessment
$358,500
Total Assessment
$467,800
Annual Taxes
$10,434 ($1.21/SF)
Tax Year
2025
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Montgomery Suites | 69 Montgomery St
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