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    162 Main St Woonsocket, RI 02895

    Sponsored
    For Sale
    $800,000

    Prime Main Street location, 23,087 SF lot.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 23,087 square foot lot at 162 Main Street in Woonsocket, Rhode Island presents a remarkable development opportunity. Located directly across from City Hall, this prime commercial property boasts a highly visible and accessible location within the heart of the city. The property is classified as mixed-use, encompassing land suitable for hospitality, office, and retail development. A completed Phase 1 environmental assessment ensures a clean slate for prospective developers. Preliminary plans already exist for a multi-unit development, envisioning the construction of 40+ residential units. This significant advantage streamlines the planning process and reduces potential delays. Adding to its appeal, the property includes a substantial off-street parking lot capable of accommodating 40+ vehicles, a crucial asset for any multi-unit development. Built in 1930, the existing structure offers potential for adaptive reuse or complete redevelopment. The asking price for this exceptional property is $800,000. This presents a unique chance to capitalize on the growing demand for residential and commercial space in a thriving Rhode Island city. Don't miss this chance to acquire a piece of Woonsocket's vibrant future.

    Property Features for 162 Main St

    General Information

    Property type
    Hotels

    Building Details

    Year Built
    1930
    Buildings
    1

    HighLights

    • $800,000 asking price.
    • 23,087 square foot lot.
    • Mixed‑use development opportunity in Woonsocket, RI.
    • Located across from City Hall.
    • Preliminary plans for 40+ units.
    • Large off‑street parking lot (40+ spaces).
    Property Profile Location Intelligence

    Current Use by Public Records

    Main Street Historic ... Historical Landmark

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5140141
    Latitude
    42.0028127

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    FAQs

    What type of property is this?
    Hotel - Prime Main Street location, 23,087 SF lot.
    Where is this hotel located?
    The property is located at 162 Main St Woonsocket, RI.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: $800,000 asking price.; 23,087 square foot lot.; Mixed-use development opportunity in Woonsocket, RI.
    Request Owner's contact information
    162 Main St Woonsocket, RI 02895
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    Woonsocket, RI 02895
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    162 Main St Woonsocket, RI 02895
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