1 Park AvePortsmouth, RI 02871

Property Details for 1 Park Ave

Year built

1974

Construction

FRAME

Lot size

0.93 AC

Property size (Sq ft)

10,337 SF

Zone code

C

Property type

Showrooms

APN

PORT M:024 B:0064

APU

PORTM024B0064

Description

This exceptional 1,600 square foot office suite presents a fantastic leasing opportunity in a highly desirable Portsmouth, RI location. Situated on the second floor of a professionally maintained building at the corner of East Main Road and Park Avenue, this single-tenant space boasts a convenient layout adaptable to various business needs. The southeastern corner exposure provides abundant natural light and stunning water views, creating a bright and inspiring work environment. The property is easily accessible, conveniently located just off Route 24, ensuring seamless commutes for employees and clients. The building itself is meticulously maintained, offering a professional and welcoming atmosphere. This traditional office space is also well-suited for executive office use or even coworking arrangements, providing flexibility for a range of business models. The layout is efficient and functional, ready for immediate occupancy. Don't miss this chance to secure a premier office space in a thriving Portsmouth location. The property offers a unique blend of convenience, aesthetics, and functionality, making it an ideal choice for businesses seeking a high-quality workspace. The ample natural light and water views create a positive and productive atmosphere. The strategic location near Route 24 ensures easy access for employees and clients alike. This is a truly exceptional opportunity to establish your business in a prime Portsmouth location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,955,430

  6.5%

  $1,805,010

  7%

  $1,676,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,404,660

  Geo Method

  $1,404,660

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,519,950

  Mixed-Use / Specialty

  $1,798,580

  Hospitality / Lodging

  $1,319,560

  Office

  $1,787,890

  Institutional / Educational

  $1,869,800

  Residential Income

  $2,187,660

  Multifamily

  $2,623,760

  Automotive / Energy

  $1,602,680

  Parking / Income-Based Land

  $553,066

  Restaurant / Food Service

  $935,454

  Healthcare / Senior Housing

  $1,844,410

Location Insight

City

Portsmouth

County

Newport

State

Rhode Island

Latitude

41.6201

Longitude

-71.2446

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

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