Versatile Commercial Space For
325 Illinois Street Central Falls, RI 02863
325 Illinois Street, Central Falls, RI, 02863
$499,000
For Sale
$499,000
Two-level commercial space with expansion potential and high ceilings.
Property Size4,600 SF
Price / SF$108.48
Days on Market158
Property Features for 325 Illinois Street
General Information
- Standard status
- Active
- Size
- 4,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency
Innovations Realty
(401) 414-7414
Listed by
The ALBA Group
Source
Liongatere
Added: Feb 10 Checked: Jul 17 at 7:13 pm
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
Investment Insights
Based on property information with market context.
This commercial property offers a versatile space with expansion potential, including three commercial lots. The interior commercial space spans 4,600 square feet across two levels. The property features high 16-foot ceilings and an abundance of natural sunlight. The property is suitable for operating a business, leasing for cash flow, or exploring residential conversion and mixed-use development.
Key Highlights
- Three commercial lots included, offering immense expansion potential.
- 4600 sq ft of interior commercial space across two levels.
- High 16‑foot ceilings.
Local Financial Insights For Flex RnD
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 | $45.8k | $9.96 |
| − Vacancy | −$2.1k | −$0.45 |
| EGI | $43.8k | $9.51 |
| − OpEx | −$15.3k | −$3.33 |
| NOI | $28.4k | $6.18 |
4,600 SF · lease $9.96/SF/yr · vacancy 4.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$406.3K
$355.5K – $474.0K
NOI $28,440 @ 7.0% cap · market cap 5.70%
Second Best
Industrial
$342.9K
$300.1K – $400.1K
NOI $24,005 @ 7.0% cap · market cap 4.81%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Las quesudas colombianas — 1075 High St, Central Falls, RI 02863
FAQs
What type of property is this?
Flex space - Two-level commercial space with expansion potential and high ceilings.
Where is this flex space located?
The property is located at 325 Illinois Street 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: Three commercial lots included, offering immense expansion potential.; **4600 sq ft of interior commercial space across two levels.**; High 16‑foot ceilings.
