Woonsocket Office Building For
For Sale
$799,000
352 Park Avenue Woonsocket, Woonsocket, RI 02895
Well-maintained, three-level office building with on-site parking.
Property Size5,052 SF
Price / SF$158.16
Days on Market106
Property Features for 352 Park Avenue Woonsocket
General Information
Standard status
Active
Size
5,052 SF
Total Parking Spaces
25
Property subtype
CommercialSale
Taxes and HOA fees
Annual Taxes
$8,712
Building Details
Building Size
5,052 SF
Year Built
1989
Buildings
1
Listing Agency:
(508) 501-1443
Listed By:
Leanne McCormick
(508) 501-1443
Source:
Milestonerealtyinc
Added: May 16
Changed: Aug 28
Last Checked: Aug 28 at 7:32AM
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 Leanne McCormick
Investment Insights
Based on property information with market context.
This well-maintained brick commercial building, constructed in 1989, offers approximately 5,052 square feet of gross building area. The building features three levels and ample on-site parking. Updates have been completed within the last 7 to 8 years, and the central air conditioning unit is 6 years old. This property presents an opportunity for either full occupancy or leasing for income generation. It is suitable for business expansion.
Key Highlights
- Well‑maintained brick commercial building with approximately 5,052 sf of gross building area.
- Opportunity to occupy the entire building or lease for income generation.
- Updated within the past 7 to 8 years.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,301
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,306,020
$1.3M
Cap Rate 7%
$932,871
$932.9K
Cap Rate 9%
$725,567
$725.6K
Market Conditions
NOI Build-Up for 5,052 SF
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.
Gross rent
$101.2K $20.04/SF
− Vacancy
−$14.2K −$2.81/SF
EGI
$87.1K $17.23/SF
− OpEx
−$21.8K −$4.31/SF
NOI
$65.3K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,306,020
Cap Rate 7%
$932,871
Cap Rate 9%
$725,567
Alternative Uses
Best Use
Office B
$932.9K
$816.3K – $1.09M
NOI $65,301 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,118 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-maintained, three-level office building with on-site parking.
Where is this office building located?
The property is located at 352 Park Avenue Woonsocket Woonsocket, RI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Well‑maintained brick commercial building with approximately 5,052 sf of gross building area.; Opportunity to occupy the entire building or lease for income generation.; Updated within the past 7 to 8 years.
