Pawtucket Sober Living
Overview
Lease and Income Structure
182 Cottage Street is offered for sale as a going concern, with the real estate and the operating recovery housing business conveying together.
Pawtucket
Pawtucket is where American industry started. Slater Mill went up on the Blackstone River in the 1790s and the city grew around textiles from there, through the country's first factory strike in 1824 and on into a long industrial century. Today it is Rhode Island's fourth largest city, about 75,000 people at roughly 8,700 to the square mile, sitting directly north of Providence.
That density is the point for recovery housing. Hospitals, treatment providers, courts, employers and meetings sit inside a short bus ride, and RIPTA's R-Line runs through the city. A new commuter rail station opened in 2023 on the Providence/Stoughton line, putting Boston within a straightforward commute for the first time in forty years. Hasbro is headquartered here. The old Lorraine Mills complex has been given over to theaters, breweries and studios.
The Home
The property operates as a congregate recovery residence, a structured, substance-free living environment where residents hold one another accountable, follow house rules, and stay connected to outside recovery supports. The building has been in this use and is set up for it.
What a Buyer Is Buying
Two things, and they are worth separating. The first is the real estate, in a market with real rental demand and no shortage of tenants. The second is a recovery housing operation with an established use, a resident base and referral relationships already in place. The second is harder to replicate than the first, and it is why a stabilized home trades differently than an empty house of the same size.
Who This Fits
An operator expanding in southern New England, a mission-driven buyer who wants the impact alongside the return, or an investor comfortable owning behavioral healthcare real estate with an operator attached. Diligence should cover certification status, zoning and fair housing, life safety systems, insurance, building condition, and the current resident and staffing arrangements.