342 Park Ave Woonsocket, RI 02895
- Office Properties & Spaces
- 5,052 SF
Current Use by Public Records
- World Insurance Associates LLC / Insurance Agency / Insurance Broker
Property Details for 342 Park Ave
- Year built
- 1989
- Property size
- 5,052 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional three-story, 5,052 square foot office building, located at 342 Park Avenue in Woonsocket, Rhode Island, presents a compelling investment opportunity. Built in 1989 and extensively renovated within the past six years, this Class B property boasts a desirable location on a main thoroughfare with convenient highway access and ample parking (25 spaces) via two curb cuts. The building is situated on a 22,647 square foot lot and is zoned R3. Currently, approximately 66% occupied, the middle and upper floors (approximately 4,042 square feet) are leased to World Insurance Agency until December 31, 2025. The ground floor (approximately 1,010 square feet) is vacant and ready for immediate occupancy. Recent improvements include HVAC upgrades (A/C units replaced five years ago, duct cleaning completed in March 2024), a central station fire alarm system, and security cameras. The asking price is $925,000, translating to $183.10 per square foot. This multi-unit property offers a blend of stable income and potential for growth, making it an ideal owner-user or investment opportunity. Floor plans are available upon request. The property features three units, across three stories, and is privately owned. The APN is 037/0613/000.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5109
- Latitude
- 41.9979
