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    162 Main St Woonsocket, RI 02895

    Sponsored
    For Sale
    $799,900

    Prime Commercial Land, 40+ Unit Potential

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional 0.53-acre commercial property at 162 Main Street, Woonsocket, RI, presents a remarkable development opportunity. Situated directly across from City Hall, this high-visibility location offers unparalleled access and exposure. A completed Phase 1 environmental assessment ensures a smooth development process. Preliminary plans are in place for the construction of a multi-unit building, potentially exceeding 40 units. The substantial size of the lot allows for ample off-street parking, with existing plans accommodating 40+ parking spaces. The property's strategic location in the heart of Woonsocket, coupled with its significant development potential and convenient parking, makes it an ideal investment for developers seeking a high-impact project. The asking price is $799,900. This is a rare chance to acquire a prime commercial parcel in a thriving Rhode Island city, ready for immediate development. The existing preliminary plans provide a solid foundation for a swift and efficient project launch. The substantial parking provision addresses a key concern for multi-unit developments, enhancing the property's overall appeal and marketability. Don't miss this opportunity to capitalize on this exceptional location and its significant development potential. Serious inquiries only.

    Property Features for 162 Main St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    23,087 SF

    Building Details

    Year Built
    1930
    Property Profile Location Intelligence

    Current Use by Public Records

    Main Street Historic ... Historical Landmark

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.51409
    Latitude
    42.00304

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Commercial Land, 40+ Unit Potential
    Where is this commercial real estate located?
    The property is located at 162 Main St Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $799,900.
    (401) 415-8527
    Request Owner's contact information
    162 Main St Woonsocket, RI 02895
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    Woonsocket, RI 02895
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    162 Main St Woonsocket, RI 02895
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