Woonsocket Mixed-Use Corner
185 Spring Street Woonsocket, RI 02895
For Sale
$600,000
Versatile mixed-use property in Woonsocket with commercial and residential potential.
Property Size3,516 SF
Lot Size0.36 Acres
Price / SF$170.65
Days on Market116
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
Listing Agency:
Prime Time Properties, Inc.
(401) 640-3299
Listed By:
Antoanet Sialer
(401) 640-3299
Source:
Liongatere
Added: Apr 6
Changed: Jul 10
Last Checked: Jul 17 at 10:16AM
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 Prime Time Properties, Inc.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.9k | $25.56 |
| − Vacancy | −$5.4k | −$1.53 |
| EGI | $84.5k | $24.03 |
| − OpEx | −$38.0k | −$10.81 |
| NOI | $46.5k | $13.21 |
3,516 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$663.7K
$580.8K – $774.4K
NOI $46,462 @ 7.0% cap · market cap 7.74%
Second Best
Mixed Use
$593.3K
$519.2K – $692.2K
NOI $41,533 @ 7.0% cap · market cap 6.92%
Theoretical Best
Multifamily LT 5
$836.3K
$731.8K – $975.7K
NOI $58,543 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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
