Auto Shop With Car
For Sale
$650,000
620 Pond Street, Woonsocket, RI 02895
Commercial/Business,Commercial Sale, Woonsocket, RI
Property Size2,048 SF
Lot Size0.14 Acres
Price / SF$317.38
Days on Market210
Property Features for 620 Pond Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I2
Parking
15
Security features
Security System
Interior features
Ceiling Height (12 to 15 Ft)
Subdivision
Social District
Lot features
Sidewalks, Industrial Park, Urban
Standard status
Active
Size
2,048 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4667
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Building Details
Year built
1985
Floors in Building
1
Number of units
1
Building materials
Steel
Listing Agency:
Boucher Real Estate
(401) 766-2200
Listed By:
Gregory Smith
(401) 439-6964
Added: Jan 28
Changed: Aug 19
Last Checked: Aug 26 at 12:06PM
MLS# 1403975
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This automotive property at 620 Pond Street includes two buildings serving an auto body and vehicle sales operation. The improvements were constructed in 1985 and feature steel construction, baseboard heating, ceiling heights ranging from 12 to 15 feet, and public sewer service. Equipment is included with the sale, and the site provides parking for approximately 20+/- vehicles.
The property is located in Woonsocket, Rhode Island, within Providence County and the 02895 postal area. I2 zoning is identified for the site. The existing operation combines auto body services with car sales, providing a commercial setting suited to continued automotive use.
The property is located in Woonsocket, Rhode Island, within Providence County and the 02895 postal area. I2 zoning is identified for the site. The existing operation combines auto body services with car sales, providing a commercial setting suited to continued automotive use.
Key Highlights
- Auto body and car sales operation at 620 Pond Street, Woonsocket, RI 02895
- I2 zoning with approximately 20+/- vehicle parking spaces
- Two buildings with combined automotive use
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
$23,121
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
3.56%
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%
$462,420
$462.4K
Cap Rate 7%
$330,300
$330.3K
Cap Rate 9%
$256,900
$256.9K
Market Conditions
NOI Build-Up for 2,048 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
$36.9K $18.00/SF
− Vacancy
−$3.8K −$1.87/SF
EGI
$33.0K $16.13/SF
− OpEx
−$9.9K −$4.84/SF
NOI
$23.1K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$462,420
Cap Rate 7%
$330,300
Cap Rate 9%
$256,900
Alternative Uses
Best Use
Retail
$330.3K
$289.0K – $385.4K
NOI $23,121 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$152.7K
$133.6K – $178.1K
NOI $10,687 @ 7.0% cap · market cap 1.64%
Theoretical Best
Multifamily LT 5
$487.1K
$426.3K – $568.3K
NOI $34,100 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
28k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Shops & Services 16%
Burger King
Dining
10,981 visits/mo
0.5 miles
Dunkin' Donuts
Dining
7,691 visits/mo
0.4 miles
Domino's Pizza
Dining
4,822 visits/mo
0.5 miles
Dollar General
Shops & Services
4,409 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Existing automotive facility with two buildings, vehicle parking, and I2 zoning at a Pond Street location.
Where is this auto shop located?
The property is located at 620 Pond Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Auto body and car sales operation at 620 Pond Street, Woonsocket, RI 02895; I2 zoning with approximately 20+/- vehicle parking spaces; Two buildings with combined automotive use
