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

    226 South Main St Woonsocket, RI 02895

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Turnkey 7-unit multifamily property near amenities and commuter routes.

    Lot size:
    0.11 Acres

    Property Features for 226 South Main St

    General Information

    Standard status
    Active
    Lot size
    0.11 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Riley White
    Source: Crexi

    Listing Agency: Keller Williams Realty Leading Listing Agent: Riley White

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Woonsocket Multifamily Investment Opportunity

    This 7-unit multifamily property is located in Woonsocket, Rhode Island. The property offers in-place income with potential for increased value. Its location near shopping, dining, local employers, and major commuter routes supports consistent rental demand. This property presents an opportunity for investors seeking a stabilized asset with potential for future rent growth and operational improvements.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5196488
    Latitude
    41.9975448

    Nearby Similar for Sale

    • $695,000
      3,248 SF

      Turnkey Automotive Business Opportunity

      Profitable auto body and used car sales business for sale.
      620 Pond St, Woonsocket, RI 02895
      View Details
    • $584,900
      11,222 SF

      Woonsocket Commercial Property For Sale

      Commercial property with potential for various uses and businesses.
      72 Parker St, Woonsocket, RI 02895
      View Details
    • $500,000
      0.22 Acres

      Updated Restaurant with Drive-Through

      Immaculate restaurant with drive-through, patio, and full basement.
      426 Cass Ave, Woonsocket, RI 02895
      View Details
    • New
      Contact for pricing
      8,750 SF

      Woonsocket Commercial Corner Location

      Signalized corner location with high visibility and flexible space.
      1081 2Nd Ave, Woonsocket, RI 02895
      View Details
    • $555,000
      0.30 Acres

      Spacious Retail Property in Woonsocket

      4,500 SF retail property with modern amenities and ample parking.
      58 Hamlet Ave, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      1,200 SF

      Woonsocket Restaurant Space For Sale

      Commercial restaurant space with recent updates in Downtown Woonsocket.
      57 N Main St, Woonsocket, RI 02895
      View Details
    • $395,000
      Pending

      Woonsocket Manufacturing Building For Sale

      41800 sq.ft. manufacturing building in Woonsocket, Rhode Island.
      93 Hazel St, Woonsocket, RI 02895
      View Details
    • New
      Contact for pricing
      0.23 Acres

      Retail Space on Busy Street

      Retail space with high visibility and parking in Woonsocket.
      413 Cumberland Hill Rd, Woonsocket, RI 02864
      View Details
    • $299,000
      0.11 Acres

      Woonsocket Commercial Opportunity For Sale

      Commercial property with garage stalls, office space, and ample lot.
      250 Manville Rd, Woonsocket, RI 02895
      View Details
    • $885,000
      0.24 Acres

      Established Auto Repair Business For Sale

      Long-time auto repair business and real estate for sale.
      18 Blackstone St, Woonsocket, RI 02895
      View Details
    • $595,000
      0.18 Acres

      Woonsocket Multifamily Investment Opportunity

      Five-unit residential building in Woonsocket, renovated in 2019, strong rental appeal.
      79 Hamlet Ave, Woonsocket, RI 02895
      View Details
    • $450,000
      0.10 Acres

      Woonsocket Multi-Unit Renovation Opportunity

      Four-unit building in Woonsocket, RI, ready for renovation.
      36 Fairmount St, Woonsocket, RI 02895
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turnkey 7-unit multifamily property near amenities and commuter routes.
    Where is this apartment building located?
    The property is located at 226 South Main St Woonsocket, RI.
    What are key features of this property?
    This property features: - Turnkey 7-unit multifamily property; - Strong in-place income; - Value-add upside potential
    Request Owner's contact information
    226 South Main St Woonsocket, RI 02895
    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.
    226 South Main St
    Woonsocket, RI 02895
    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
    226 South Main St Woonsocket, RI 02895
    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

    We can help!
    Listing Contact
    Riley White
    Real Estate License ID: REB.0019467
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!