12-Unit Mixed-Use
For Sale
$1,299,900
584 N Main St, Woonsocket, RI 02895
Combined residential and commercial occupancy with on-site parking, a garage, and shared laundry facilities.
Property Size9,332 SF
Days on Market80
Property Features for 584 N Main St
General Information
Standard status
Active
Size
9,332 SF
Property subtype
Commercial
Additional Details
Gross Income
$146,400
Road Access
Yes
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$9,992
Amenities
common laundry area
Building Details
Building Size
9,332 SF
Year Built
1905
Listing Agency:
Keller Williams Elite
Listed By:
Talib Hussain · License #449585701
(508) 695-4545
Source:
Classifiedrealtygroup
Added: Jul 28
Changed: Oct 11
Last Checked: Oct 14 at 8:21PM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This mixed-use property contains 12 units within a 9,332-square-foot building, combining 9 residential apartments with 3 commercial spaces. Built in 1905, the property also includes a 6-car garage, on-site parking, and a common laundry area that may support additional income generation.
The building is positioned along N Main Street in Woonsocket’s commercial corridor, with access to major routes, shopping, restaurants, and local employers. Its combination of apartment and commercial occupancy creates a varied tenant profile within a single property. The address is 584 N Main St, Woonsocket, RI 02895.
The building is positioned along N Main Street in Woonsocket’s commercial corridor, with access to major routes, shopping, restaurants, and local employers. Its combination of apartment and commercial occupancy creates a varied tenant profile within a single property. The address is 584 N Main St, Woonsocket, RI 02895.
Key Highlights
- 12 total units: 9 residential apartments and 3 commercial spaces
- 9,332‑square‑foot mixed‑use property built in 1905
- 6‑car garage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,234
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,204,680
$2.2M
Cap Rate 7%
$1,574,771
$1.6M
Cap Rate 9%
$1,224,822
$1.2M
Market Conditions
NOI Build-Up for 9,332 SF
Gross rent
$196.0K $21.00/SF
− Vacancy
−$19.6K −$2.10/SF
EGI
$176.4K $18.90/SF
− OpEx
−$66.1K −$7.09/SF
NOI
$110.2K $11.81/SF
Area
Providence County, RI
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,204,680
Cap Rate 7%
$1,574,771
Cap Rate 9%
$1,224,822
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.06M
NOI $123,318 @ 7.0% cap · market cap 9.49%
Second Best
Mixed Use
$1.57M
$1.38M – $1.84M
NOI $110,234 @ 7.0% cap · market cap 8.48%
Theoretical Best
Multifamily LT 5
$2.22M
$1.94M – $2.59M
NOI $155,382 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
855
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined residential and commercial occupancy with on-site parking, a garage, and shared laundry facilities.
Where is this mixed-use property located?
The property is located at 584 N Main St Woonsocket, RI.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: 12 total units: 9 residential apartments and 3 commercial spaces; 9,332‑square‑foot mixed‑use property built in 1905; 6‑car garage included
