Pawtucket, Rhode Island, offers a diverse range of commercial real estate opportunities for investors. With its rich history and strategic location, Pawtucket is an attractive destination for businesses looking to establish a presence in the region. Commercial real estate in Pawtucket can represent a variety of investments, including office buildings, retail spaces, and industrial properties. The city's infrastructure, including its transportation systems and amenities, makes it an ideal location for businesses to thrive. For example, the city is home to Hasbro, a Fortune 1000 toy and game making company, and Fox Point Pickles, a pickling company. Additionally, Pawtucket's education institutions, such as Charles E. Shea Senior High School and St. Raphael Academy, provide a skilled workforce for businesses. The city's geography, with its rivers and surrounding landforms, also offers a unique setting for businesses to establish themselves. With 38 commercial real estate listings available, investors have a range of options to choose from.
Pawtucket's commercial real estate market is characterized by its diverse range of properties, including office buildings, retail spaces, and industrial properties. The city's office properties, such as those found in the Downtown area, offer a range of amenities and services for businesses. Industrial properties, like those found in the city's industrial parks, provide space for manufacturing and distribution. Retail spaces, such as those found in the city's shopping centers, offer opportunities for businesses to connect with customers. Additionally, the city's hotels, such as those found near the airport, provide accommodations for visitors. Apartment buildings, like those found in the city's residential areas, offer housing options for residents. With its range of properties and amenities, Pawtucket's commercial real estate market offers something for every type of business. The average price per square foot for commercial real estate in Pawtucket is $228 USD, with an average size of 33,603 square feet and a largest size of 314,839 square feet. The average cap rate for commercial real estate in Pawtucket is 6.93%. Overall, Pawtucket's commercial real estate market offers a range of opportunities for investors and businesses looking to establish a presence in the region.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Pawtucket, Rhode Island, buyers have several choices to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for eligible small businesses;
- Alternative lenders and private money lenders, which may offer more flexible terms and faster approval processes, but often at higher interest rates.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Pawtucket, understanding cap rates is crucial. The average cap rate in Pawtucket is 6.93%, which can help investors determine the potential return on investment for a property, making it a vital factor in their purchasing decision. For a deeper dive into the concept, check out our article on what is a cap rate.
What is considered a commercial property?
In Pawtucket, Rhode Island, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities, which can be found in areas like Downtown Pawtucket and along major highways like Interstate 95 and U.S. 1.
Currently, there are 38 available listings of commercial real estate in Pawtucket, with an average price per square foot of $228 USD, and an average size of 33,603 square feet, ranging from smaller properties to larger ones like 314,839 square feet, offering a range of opportunities for businesses and investors.
