333 School StPawtucket, RI 02860

Property Details for 333 School St

Year built

1970

Property size (Sq ft)

120 SF

Zone code

RM

Property type

Office properties

Property subtype

Other office properties

APN

PAWT M:71 L:0401

APU

PAWTM71L0401

Description

This exceptional 2,336-square-foot medical office space is located at 333 School Street, Unit 112B, in Pawtucket, Rhode Island, zip code 02860. Situated within a larger, well-established medical office building, this single-tenant space offers a convenient and professional environment. The building itself boasts a total of 44,909 square feet, spread across three stories, and was constructed in 1975, undergoing a complete renovation in 2022. The property sits on a 2.98-acre lot and is classified as Class C. The unit features a 9-foot ceiling height and benefits from ample parking with 175 spaces available. The lease is a triple net (NNN) lease with a rate of $15 per square foot. Common area maintenance (CAM) charges are $16.35 per square foot and encompass electricity, heat, water, and hot water. This property is ideally located within the Northern Rhode Island submarket cluster, offering easy access to major roadways and a thriving medical community. The building is fully occupied, indicating strong demand in the area. This presents a rare opportunity to acquire a fully renovated, well-located medical office space in a desirable market.

• CAP approach

  CAP return

  Valuation

  6%

  $19,840

  6.5%

  $18,313

  7%

  $17,005

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,679

  Geo Method

  $15,679

• Alternative Use

  Use

  Valuation

  Residential

  $22,709

  Hospitality

  $20,801

  Educational

  $17,306

  Medical

  $17,901

  Retail

  $26,921

Location Insight

City

Pawtucket

County

Providence

State

Rhode Island

Latitude

41.8718

Longitude

-71.3807

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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