Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Woonsocket Commercial Space For Lease Title is generated by Realmo AI

    1-1296 Park East Dr, Woonsocket, RI 02895

    View on Map
    Claim this Listing
    For Lease
    $4,500/Mo $21 SF/Yr (calc)

    2541 SF commercial space with warehouse and office.

    Property size:
    2,541 SF
    Added:
    Dec 26, 2024
    Days on Market:
    517
    Last Refresh:
    May 25 at 9:21 pm

    Property Features for 1-1296 Park East Dr

    General Information

    Standard status
    Active
    Size
    2,541 SF

    We can help!

    Listing Contact
    The Stearns McGee Team
    The Stearns McGee Team

    Listing agent The Stearns McGee Team License #S32155

    Listing office RE/MAX Properties

    Listing date Dec 26, 2024

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Properties

    HighLights

    • Large commercial space: 2541 sq ft built in 2007.
    • Convenient distribution: Shared loading dock and smaller warehouse.
    • Excellent highway access: Located near major highways.
    • Desirable location: Situated in a prime industrial park in northern Rhode Island.
    • Professional office space: Includes reception area, private bathroom, and larger offices.
    • Established business environment: Surrounded by successful businesses, including CVS headquarters.

    Overview

    This commercial space, constructed in 2007, offers 2541 square feet of area. The layout includes a reception area, a private bathroom, larger offices, a mail room, and a smaller warehouse area. A shared loading dock provides convenient distribution capabilities. The property is situated in an industrial park in northern Rhode Island, offering access to major highways and proximity to established businesses, including CVS headquarters. This property is suitable for a variety of commercial uses.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Myles of Flavor — 450 Cumberland Hill Rd, Woonsocket, RI 02895

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.476156
    Latitude
    41.995261

    Nearby Similar for Lease

    • $15 SF/Yr
      1,800 SF

      Versatile Commercial Space on Front

      Street-level unit with high visibility and flexible floor plan.
      754 Front Street, Woonsocket, RI 02895
      View Details
    • $16 SF/Yr
      1,620 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
      15 Island Place, Woonsocket, RI 02895
      View Details
    • $16 SF/Yr
      1,800 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
      5 Island Place, Woonsocket, RI 02895
      View Details
    • $2,800/Mo
      1,200 SF

      Woonsocket Restaurant Space For Lease

      Commercial restaurant space available in Downtown Woonsocket.
      57 N Main St, Woonsocket, RI 02895
      View Details
    • $8 SF/Yr
      4,060 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
      68 South Main Street, Woonsocket, RI 02895
      View Details
    • $15 SF/Yr
      1,800 SF

      Versatile Commercial Space on Front

      1800 sqft commercial space suitable for various business ventures.
      754 front, Woonsocket, RI 02895
      View Details
    • $14 SF/Yr
      1,800 SF

      Woonsocket Retail Space Available

      Retail space available for lease in Woonsocket, Rhode Island.
      754 front Street, Woonsocket, RI 02895
      View Details
    • $1,500/Mo
      1,300 SF

      Downtown Retail Space For Lease

      Retail space in a visible downtown location, 1300 square feet.
      106 Main Street #Retail, Woonsocket, RI 02895
      View Details
    • $6 SF/Yr
      2,000 SF

      Woonsocket Office Space For Rent

      2000 sq ft office space with separate entrance.
      159 Singleton, Woonsocket, RI 02895
      View Details
    • $8 SF/Yr
      8,750 SF

      Prominent Corner Retail Space Available

      Retail space with high visibility and flexible layout options.
      1081 Social Street #1 & 2, Woonsocket, RI 02895
      View Details
    • $5 SF/Yr
      60,000 SF

      Adaptable Industrial Space For Lease

      Versatile industrial building with flexible space solutions available for lease.
      292 E School Street, Woonsocket, RI 02895
      View Details
    • $5,900/Mo
      5,052 SF

      Woonsocket Commercial Building For Lease

      Well-maintained, three-level commercial building with on-site parking.
      352 Park, Woonsocket, RI 02895
      View Details

    FAQs

    What type of property is this?
    Flex space - 2541 SF commercial space with warehouse and office.
    Where is this flex space located?
    The property is located at 1-1296 Park East Dr Woonsocket, RI.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: Large commercial space: 2541 sq ft built in 2007.; Convenient distribution: Shared loading dock and smaller warehouse.; Excellent highway access: Located near major highways.
    (401) 356-1519
    We can help!
    Listing Contact
    The Stearns McGee Team
    The Stearns McGee Team
    Real Estate License ID: S32155
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1-1296 Park East Dr, Woonsocket, RI
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!