Corner Retail Shopping
For Sale
$2,100,000
786 Providence Street, Woonsocket, RI 02895
Five street-level retail units on a high-visibility corner with a second-floor space suited for residential or office conversion.
Property Size15,534 SF
Lot Size1.00 Acre
Price / SF$135.19
Days on Market114
Property Features for 786 Providence Street
General Information
Standard status
Active
Size
15,534 SF
Total Parking Spaces
74
Lot size
1.00 Acre
Property subtype
Retail
Building Details
Building Size
15,534 SF
Year Built
1976
Tenancy
Multi
Listing Agency:
MG Commercial
Listed By:
Dan Feiner · License #RI # RES.0029089
(401) 465-9224
Source:
Mgcommercial
Added: Jun 24
Changed: Oct 15
Last Checked: Oct 14 at 10:06PM
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 MG Commercial
Investment Insights
Based on property information with market context.
This 15,534 SF retail shopping center is built on a highly visible one-acre corner parcel and features five street-level retail units. The second floor provides approximately 5,000 SF of vacant space that may be suitable for residential or office conversion. Recent capital improvements include a brand-new electrical system, new siding and windows, and a new roof.
The property sits on a corner lot with two curb cuts and includes 74 parking spaces, positioned at a high-traffic, four-way signalized intersection. The tenant mix includes a liquor store, laundromat, hair salon, nail salon, and a pizza restaurant.
For an owner-user or investor, the center offers multiple active retail storefronts alongside additional upper-level space that can be repurposed, subject to approvals. The configuration supports retail continuity at street level while allowing flexibility for the second-floor layout through a conversion strategy.
The property sits on a corner lot with two curb cuts and includes 74 parking spaces, positioned at a high-traffic, four-way signalized intersection. The tenant mix includes a liquor store, laundromat, hair salon, nail salon, and a pizza restaurant.
For an owner-user or investor, the center offers multiple active retail storefronts alongside additional upper-level space that can be repurposed, subject to approvals. The configuration supports retail continuity at street level while allowing flexibility for the second-floor layout through a conversion strategy.
Key Highlights
- 15,534 SF retail shopping center on a ~1‑acre corner parcel with five street‑level retail units
- Second‑floor space of approximately 5,000 SF is vacant and suitable for residential or office conversion
- Brand‑new electrical system plus new siding and windows, and a new roof (recent capital improvements)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,373
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,507,460
$3.5M
Cap Rate 7%
$2,505,329
$2.5M
Cap Rate 9%
$1,948,589
$1.9M
Market Conditions
NOI Build-Up for 15,534 SF
Gross rent
$279.6K $18.00/SF
− Vacancy
−$29.1K −$1.87/SF
EGI
$250.5K $16.13/SF
− OpEx
−$75.2K −$4.84/SF
NOI
$175.4K $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 Rate 5%
$3,507,460
Cap Rate 7%
$2,505,329
Cap Rate 9%
$1,948,589
Alternative Uses
Best Use
Retail
$2.51M
$2.19M – $2.92M
NOI $175,373 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.69M
$3.23M – $4.31M
NOI $258,649 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
63k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
Dollar Tree
Shops & Services
24,690 visits/mo
0.4 miles
Dunkin' Donuts
Dining
16,643 visits/mo
0.4 miles
Ocean State Job Lot
Shops & Services
13,564 visits/mo
0.5 miles
AutoZone
Shops & Services
4,368 visits/mo
0.5 miles
D'Angelo Grilled Sandwiches
Dining
2,210 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Shopping center - Five street-level retail units on a high-visibility corner with a second-floor space suited for residential or office conversion.
Where is this shopping center located?
The property is located at 786 Providence Street Woonsocket, RI.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 15,534 SF retail shopping center on a ~1‑acre corner parcel with five street‑level retail units; Second‑floor space of approximately 5,000 SF is vacant and suitable for residential or office conversion; Brand‑new electrical system plus new siding and windows, and a new roof (recent capital improvements)
