Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    185 Spring Street Woonsocket, RI 2895

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $600,000

    Versatile mixed-use property in Woonsocket with commercial and residential potential.

    Type:Commercial
    Property size:
    3,516 SF
    Lot size:
    0.36 Acres
    Added:
    Apr 6, 2026
    Days on Market:
    22
    Last Refresh:
    Apr 25 at 6:18 am

    Property Features for 185 Spring Street

    General Information

    Standard status
    Active
    Size
    3,516 SF
    Lot size
    0.36 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Antoanet Sialer

    Listing agent Antoanet Sialer

    Listing office Prime Time Properties, Inc.

    Listing date Apr 6, 2026

    Source Liongatere

    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 Prime Time Properties, Inc.

    Overview

    Woonsocket Mixed-Use Corner Property

    Located at 185 Spring Street in Woonsocket, this mixed-use property presents diverse opportunities. The building's structure can be adapted for various uses, including hall rental, a restaurant, or other business types. Situated on a corner lot, the property includes 3,516 square feet of living space. Zoned as COMBO COM M94 R3, it accommodates both residential and commercial purposes. The lot size is 0.36 acres, providing substantial space for development. The first floor is currently occupied by a business. The second-floor apartment has been recently renovated, offering modern amenities. This property is suitable for business owners or investors seeking a versatile property in a well-located area of Woonsocket.
    Location Intelligence

    Current Use by Public Records

    Alderwood Funeral Home ... Social Service Agency Berarducci Funeral Home ... Cremation Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5160669
    Latitude
    42.0089961

    Nearby Similar for Sale

    • $500,000

      Updated Restaurant with Drive-Through

      Immaculate restaurant with drive-through, patio, and full basement.
      426 Cass Avenue, Woonsocket, RI 02895
      View Details
    • $650,000

      Auto Body & Car Sales

      Turnkey auto body and car sales business in Woonsocket, RI.
      620 Pond Street, Woonsocket, RI 02895
      View Details
    • $8

      Woonsocket Commercial Corner Location

      Signalized corner location with high visibility and flexible space.
      1081 Social Street unit: 1,2, Woonsocket, RI 02895
      View Details
    • $975,000

      Woonsocket Multifamily Investment Opportunity

      Seven apartments and eleven garage bays on 0.66 acres.
      48 PROVIDENCE Street, Woonsocket, RI 02895
      View Details
    • $584,900

      Woonsocket Commercial Property For Sale

      Commercial property with potential for various uses and businesses.
      72 Parker Street, Woonsocket, RI 02895
      View Details
    • $575,000

      Woonsocket Multifamily Investment Opportunity

      Five-unit residential building in Woonsocket with strong rental appeal.
      79 Hamlet Avenue, Woonsocket, RI 02895
      View Details
    • $2,800

      Woonsocket Restaurant Space For Sale

      Commercial restaurant space with recent updates in Downtown Woonsocket.
      57 N Main St, Woonsocket, RI 02895
      View Details
    • $600,000

      Woonsocket Mixed-Use Corner Property

      Versatile mixed-use property with commercial space and renovated apartment.
      185 Spring Street, Woonsocket, RI 02895
      View Details
    • $774,000

      Woonsocket Multi-Family with ADU Potential

      Rare three-family property with detached garage and ADU potential.
      50 Jackson Street, Woonsocket, RI 02895
      View Details
    • $575,000

      Woonsocket Triplex with Income Potential

      Well-maintained triplex with income potential and recent updates.
      177 Logee Street, Woonsocket, RI 02895
      View Details
    • $555,000

      Spacious Retail Property in Woonsocket

      4,500 SF retail property with modern amenities and ample parking.
      58 Hamlet Avenue, Woonsocket, RI 02895
      View Details
    • $499,999

      Updated Duplex with Detached Garage

      Updated two-family home with a large yard and detached garage.
      75 Kenwood Street, Woonsocket, RI 02895
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile mixed-use property in Woonsocket with commercial and residential potential.
    Where is this mixed-use property located?
    The property is located at 185 Spring Street Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Mixed‑use property suitable for various business types or residential use; Located on a corner lot with 0.36 acres, offering development potential; Zoning (COMBO COM M94 R3) supports both residential and commercial applications
    (401) 640-3299
    We can help!
    Listing Contact
    Antoanet Sialer
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!