Mixed-Use Property with Development
60 Rathbun, Woonsocket, RI 02895
For Sale
$899,000
Pending
Seven-unit mixed-use property with land for expansion.
Property Size6,400 SF
Days on Market407
Property Features for 60 Rathbun
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Corner Lot
Circuit Breakers
Building Details
Year Built
Listing Agency:
KELLER WILLIAMS REALTY
(508) 695-4545
Listed By:
TALIB HUSSAIN · License RI #449585701
(774) 266-1068
Source:
Corcoran
Added: Sep 30, 2025
Changed: Oct 26
Last Checked: Nov 8 at 5:39AM
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 REALTY
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Investment Insights
Based on property information with market context.
This mixed-use property features six residential apartments and one retail space. The property includes a sizable parcel of land that offers potential for an additional buildable lot. The residential units include balconies, eat-in kitchens, spacious living rooms, and full baths. The unit mix consists of four 2-bedroom apartments, one 4-bedroom apartment, and one studio. Ample off-street parking is available. Recent upgrades include a newer roof, updated balconies and porches, and a compliant water meter. The property has a strong rental history and consistent returns. The property is located in Woonsocket, RI.
Key Highlights
- Strong cash‑flow generation with a solid rental history.
- Potential for an additional buildable lot for expansion.
- Mixed‑use property featuring 6 residential units and 1 retail space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,600
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,512,000
$1.5M
Cap Rate 7%
$1,080,000
$1.1M
Cap Rate 9%
$840,000
$840.0K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$134.4K $21.00/SF
− Vacancy
−$13.4K −$2.10/SF
EGI
$121.0K $18.90/SF
− OpEx
−$45.4K −$7.09/SF
NOI
$75.6K $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%
$1,512,000
Cap Rate 7%
$1,080,000
Cap Rate 9%
$840,000
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,573 @ 7.0% cap · market cap 9.41%
Second Best
Mixed Use
$1.08M
$945.0K – $1.26M
NOI $75,600 @ 7.0% cap · market cap 8.41%
Theoretical Best
Multifamily LT 5
$1.52M
$1.33M – $1.78M
NOI $106,563 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,432
Businesses Nearby
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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
$267,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Providence County, RI
Properties on Market for Mixed-use properties in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven-unit mixed-use property with land for expansion.
Where is this mixed-use property located?
The property is located at 60 Rathbun Woonsocket, RI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Strong cash‑flow generation with a solid rental history.; Potential for an additional buildable lot for expansion.; Mixed‑use property featuring 6 residential units and 1 retail space.
