Millrace District Commercial
For Lease
$12 SF/Yr
5 Island, Woonsocket, RI 02895
Commercial spaces for rent in the Millrace District.
Space SizeContact for details
Days on Market162
Property Features for 5 Island
General Information
Standard status
Active
Property subtype
Commercial
Amenities
Circuit Breakers
Building Details
Year Built
1900
Listing Agency:
MANCIERI REAL ESTATE
(401) 651-1519
Listed By:
GARRETT MANCIERI
Source:
Corcoran
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 8 at 6:11AM
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 MANCIERI REAL ESTATE
Investment Insights
Based on property information with market context.
Located in the Millrace District, this property features three buildings with commercial spaces available for rent. The available spaces, situated in a building on the property, include one unit of 1389 square feet and another of 1800 square feet. The spaces are newly constructed in a mill loft style, suitable for retail or office use. The property is located next to a park that hosts numerous events during the summer and offers a riverfront location. Situated in downtown Woonsocket, the area has undergone multi-million dollar renovation projects over the past decade, contributing to its growth.
Key Highlights
- Prime location in the Millrace District with riverfront access and adjacent to a park hosting summer events.
- Brand new construction with mill loft style**, suitable for retail or office use.
- Located in downtown Woonsocket, an area experiencing multi‑million dollar renovation projects.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$1.80 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
1,048
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
Lease Benchmarks for Woonsocket, RI
$12.23 /SF/Yr
Avg Asking Price
$8–$20 /SF/Yr
Price Range
2,981 SF
Avg Space Size
This space is priced 2% below the average of $12.23 /SF/Yr.
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial spaces for rent in the Millrace District.
Where is this retail space located?
The property is located at 5 Island Woonsocket, RI.
What is the lease rate?
The lease rate is $12 SF/Yr.
What are key features of this property?
This property features: Prime location in the Millrace District with **riverfront access and adjacent to a park hosting summer events**.; Brand new construction with mill loft style**, suitable for retail or office use.; Located in downtown Woonsocket, an area experiencing multi‑million dollar renovation projects.
