Two-Building Auto Service
214-220 South Main, Woonsocket, RI 02895
For Sale
New
$699,000
MU1-zoned site combines a vacant five-bay shop with a leased three-bay operation.
Property Size8,396 SF
Lot Size0.62 Acres
Price / SF$83.25
Days on Market2
Property Features for 214-220 South Main
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Highway Access
Utilities to Site
Automotive
Service Bays
Automotive Uses
Tenancy & Operations
Tenant in Place
Real Estate Included
Taxes and HOA fees
Annual Taxes
Amenities
office
workbenches
gantries
public water
public sewer
hot air heat
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Gibson Sotheby's International Realty
(781) 749-8833
Listed By:
Joseph Padilla
(508) 272-9811
Source:
Isosrealty
Added: Nov 11
Last Checked: Nov 12 at 12:07AM
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 Gibson Sotheby's International Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 214–220 South Main in Woonsocket, this 0.62-acre property includes two masonry buildings totaling 8,396 square feet. The larger building is expected to be vacant at closing and has five service bays, an office, workbenches, gantries, and parking. The second building has three bays and is occupied by an automotive service business on a month-to-month lease.
The property is zoned MU1, Legal Conforming, and has public water, sewer, and hot air heat. Highway access and local restaurants are nearby. The buildings were constructed in 1941.
The property is zoned MU1, Legal Conforming, and has public water, sewer, and hot air heat. Highway access and local restaurants are nearby. The buildings were constructed in 1941.
Key Highlights
- Two masonry buildings totaling 8,396 square feet on 0.62 acres
- Larger building has 5 bays, an office, workbenches, and gantries
- Smaller building has 3 bays and an automotive service tenant on a month‑to‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,815
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,300
$876.3K
Cap Rate 7%
$625,929
$625.9K
Cap Rate 9%
$486,833
$486.8K
Market Conditions
NOI Build-Up for 8,396 SF
Gross rent
$63.0K $7.50/SF
− Vacancy
−$378 −$0.05/SF
EGI
$62.6K $7.46/SF
− OpEx
−$18.8K −$2.24/SF
NOI
$43.8K $5.22/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,300
Cap Rate 7%
$625,929
Cap Rate 9%
$486,833
Alternative Uses
Best Use
Retail
$1.35M
$1.18M – $1.58M
NOI $94,787 @ 7.0% cap · market cap 13.56%
Second Best
Industrial
$625.9K
$547.7K – $730.3K
NOI $43,815 @ 7.0% cap · market cap 6.27%
Theoretical Best
Multifamily LT 5
$2.00M
$1.75M – $2.33M
NOI $139,797 @ 7.0% cap · market cap 20.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Service bays
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
27k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 35%
Electronics 3%
Cumberland Farms
Shops & Services
12,464 visits/mo
0.1 miles
Dunkin' Donuts
Dining
9,444 visits/mo
0.1 miles
Citgo
Shops & Services
2,954 visits/mo
0.4 miles
Logee Street Convenience
Shops & Services
1,594 visits/mo
0.5 miles
Metro by T-Mobile
Electronics
914 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
$267,900
Median Home Value
Market
Average Price Trend$/SF for Auto shops in Providence County, RI
Properties on Market for Auto shops in Providence County
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Henri's Auto Repair — 1068 Park Ave, Woonsocket, RI 02895
- Henrys Muffler — 31 Broad St, Woonsocket, RI 02895
- Broad Street Garage — 74 Broad St, Woonsocket, RI 02895
- Victory Auto Repair — 122 Transit St, Woonsocket, RI 02895
- American imports collision center — 115 Valley St, Woonsocket, RI 02895
Frequently Asked Questions
What type of property is this?
Auto shop - MU1-zoned site combines a vacant five-bay shop with a leased three-bay operation.
Where is this auto shop located?
The property is located at 214-220 South Main Woonsocket, RI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two masonry buildings totaling 8,396 square feet on 0.62 acres; Larger building has 5 bays, an office, workbenches, and gantries; Smaller building has 3 bays and an automotive service tenant on a month‑to‑month lease
