Mixed-Use Property with Development
60 Rathbun Woonsocket, RI 02895
60 Rathbun, Woonsocket, RI, 02895
$899,000
Pending
For Sale
$899,000
Pending
Seven-unit mixed-use property with land for expansion.
Property Size6,400 SF
Days on Market292
Property Features for 60 Rathbun
General Information
- Standard status
- Pending
- Size
- 6,400 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing Agency
KELLER WILLIAMS REALTY
(508) 695-4545
Listed by
TALIB HUSSAIN · License #449585701
Source
Corcoran
Added: Sep 30, 2025 Checked: Jul 17 at 2:29 am
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
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.
Local Financial Insights For Mixed Use
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 | $134.4k | $21.00 |
| − Vacancy | −$13.4k | −$2.10 |
| EGI | $121.0k | $18.90 |
| − OpEx | −$45.4k | −$7.09 |
| NOI | $75.6k | $11.81 |
6,400 SF · lease $21.00/SF/yr · vacancy 10.00% · expense 37.50%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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.
