Corner Automotive Service
For Sale
$799,999
18 Blackstone St, Woonsocket, RI 02895
Commercial Sale, Woonsocket, RI
Property Size4,516 SF
Lot Size0.24 Acres
Price / SF$177.15
Days on Market39
Property Features for 18 Blackstone St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1
Zoning description
Legal Conforming
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Directions
The property is located on the corner of North Main Street and Blackstone Street.
Standard status
Active
APN
M:14A L:281 U:24,561064
Size
4,516 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5647
Building Details
Year built
1921
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 675-0995
Added: Jul 28
Changed: Sep 3
Last Checked: Sep 4 at 3:06AM
MLS# 73556041
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This automotive property includes 4,516 square feet on a 0.24-acre lot, with the building dating to 1921. The sale includes automotive lifts, a wheel alignment machine, and additional fixtures. The operating business 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, Woonsocket, providing a prominent street presence. The established automotive operation has served the community for more than 50 years. Zoning is C1, and the offering includes both the real estate and the automotive business.
The property occupies the corner of North Main Street and Blackstone Street in Monument Square, Woonsocket, providing a prominent street presence. The established automotive operation has served the community for more than 50 years. Zoning is C1, and the offering includes both the real estate and the automotive business.
Key Highlights
- 4,516‑square‑foot automotive property on a 0.24‑acre lot
- Corner position at North Main Street and Blackstone Street in Monument Square
- Includes automotive lifts, wheel alignment machine, and additional fixtures
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - C1-zoned automotive property with service equipment, inspection-station authorization, and a used car dealer’s license.
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‑square‑foot automotive property on a 0.24‑acre lot; Corner position at North Main Street and Blackstone Street in Monument Square; Includes automotive lifts, wheel alignment machine, and additional fixtures
