Industrial Commercial Space For
325 Illinois St, Central Falls, RI 02863
For Sale
$499,000
Industrial commercial space with expansion potential and high ceilings.
Property Size4,600 SF
Lot Size0.15 Acres
Price / SF$108.48
Days on Market290
Property Features for 325 Illinois St
General Information
Standard status
Size
Lot size
Listing Agency:
Innovations Realty
Listed By:
The ALBA Group
(401) 414-7414
Source:
Exprealty
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 25 at 3:56AM
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 Innovations Realty
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Investment Insights
Based on property information with market context.
This industrial commercial space presents an investment opportunity with expansion potential, including three commercial lots. The property features two levels of interior commercial space totaling 4,600 square feet. The building includes 16-foot high ceilings, a garage door entrance, and a loading dock. The interior layout comprises two office areas, a guest area, one full bathroom, and one half bathroom. Windows provide natural sunlight. The property is located in Central Falls, RI. Potential uses include operating a business, leasing for cash flow, or possible residential conversion and or mixed use.
Key Highlights
- Great expansion potential with 3 commercial lots.
- 4600 sq ft of interior commercial space on 2 levels.
- High 16 ft ceilings with garage door entrance and loading dock.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,149
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,980
$583.0K
Cap Rate 7%
$416,414
$416.4K
Cap Rate 9%
$323,878
$323.9K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$34.5K $7.50/SF
− Vacancy
−$207 −$0.05/SF
EGI
$34.3K $7.46/SF
− OpEx
−$5.1K −$1.12/SF
NOI
$29.1K $6.34/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,980
Cap Rate 7%
$416,414
Cap Rate 9%
$323,878
Alternative Uses
Best Use
Office B
$849.4K
$743.2K – $991.0K
NOI $59,459 @ 7.0% cap · market cap 11.92%
Second Best
Warehouse
$416.4K
$364.4K – $485.8K
NOI $29,149 @ 7.0% cap · market cap 5.84%
Theoretical Best
Multifamily LT 5
$1.09M
$957.4K – $1.28M
NOI $76,592 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Providence County, RI
Properties on Market for Flex space in Providence County
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Las quesudas colombianas — 1075 High St, Central Falls, RI 02863
Frequently Asked Questions
What type of property is this?
Flex space - Industrial commercial space with expansion potential and high ceilings.
Where is this flex space located?
The property is located at 325 Illinois St Central Falls, RI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Great expansion potential with 3 commercial lots.; 4600 sq ft of interior commercial space on 2 levels.; High 16 ft ceilings with garage door entrance and loading dock.
