Established Automotive
For Sale
$799,999
18 Blackstone St, Woonsocket, RI 02895
Corner-site automotive facility with inspection authorization, dealer licensing, and included service equipment.
Property Size4,516 SF
Price / SF$177.15
Days on Market45
Property Features for 18 Blackstone St
General Information
Standard status
Active
Size
4,516 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Road Access
Yes
Building Details
Building Size
4,516 SF
Year Built
1921
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Sep 9
Last Checked: Sep 10 at 5:16AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This automotive property includes approximately 4,516 square feet of improvements constructed in 1921. The offering includes the real estate and an established automotive business, along with automotive lifts, a wheel alignment machine, and additional fixtures. The operation is an authorized Rhode Island State Inspection Station and includes a used car dealer's license with dealer plates.
The property occupies the corner of North Main Street and Blackstone Street in Monument Square, providing a prominent position within the surrounding commercial area. The business has served the community for more than 50 years, giving the offering an established operating history and a long-standing presence at the site.
The property occupies the corner of North Main Street and Blackstone Street in Monument Square, providing a prominent position within the surrounding commercial area. The business has served the community for more than 50 years, giving the offering an established operating history and a long-standing presence at the site.
Key Highlights
- 4,516 SF automotive property with improvements built in 1921
- Corner location at North Main Street and Blackstone Street in Monument Square
- Established automotive business serving the community for over 50 years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,984
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,019,680
$1.0M
Cap Rate 7%
$728,343
$728.3K
Cap Rate 9%
$566,489
$566.5K
Market Conditions
NOI Build-Up for 4,516 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.3K $18.00/SF
− Vacancy
−$8.5K −$1.87/SF
EGI
$72.8K $16.13/SF
− OpEx
−$21.9K −$4.84/SF
NOI
$51.0K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,019,680
Cap Rate 7%
$728,343
Cap Rate 9%
$566,489
Alternative Uses
Best Use
Retail
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 6.37%
Second Best
Industrial
$336.7K
$294.6K – $392.8K
NOI $23,567 @ 7.0% cap · market cap 2.95%
Theoretical Best
Multifamily LT 5
$1.07M
$939.9K – $1.25M
NOI $75,194 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
52k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Shops & Services 33%
Home Improvements & Furnishings 1%
Burger King
Dining
10,981 visits/mo
0.3 miles
KFC
Dining
8,084 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,691 visits/mo
0.2 miles
Domino's Pizza
Dining
4,822 visits/mo
0.2 miles
Santander Bank
Shops & Services
4,514 visits/mo
0.4 miles
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Auto shop - Corner-site automotive facility with inspection authorization, dealer licensing, and included service equipment.
Where is this auto shop located?
The property is located at 18 Blackstone St Woonsocket, RI.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 4,516 SF automotive property with improvements built in 1921; Corner location at North Main Street and Blackstone Street in Monument Square; Established automotive business serving the community for over 50 years
