124 Providence StWoonsocket, RI 02895

Property Details for 124 Providence St

Lot size

0.20 AC

Zone code

R3

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

WOON M:10B L:47 U:18

APU

WOONM10BL47U18

Description

This exceptional mixed-use property in Woonsocket, Rhode Island, presents a unique investment opportunity. Located at 124 Providence Street, this 8,712 square foot lot features two buildings totaling three units. The first building is a two-family home, offering two separate apartments ideal for multi-generational living or rental income. One apartment is a three-bedroom townhouse-style unit on the second floor, while the other is located on the first floor. Adjacent to the residential building is a well-established diner, currently leased and generating rental income. This diner, a local favorite, serves breakfast and lunch. The property boasts ample parking for tenants and residents. Built in 1900, this three-story property offers a blend of residential comfort and commercial potential. The property is zoned for commercial, restaurant, bar, and residential use, providing flexibility for future development or continued operation as a mixed-use property. This is an excellent opportunity to acquire a multi-family property with existing commercial income in a desirable Rhode Island location. The property is situated in Providence County, zip code 02895. This multifaceted investment offers a compelling combination of residential living and established commercial income.

• CAP approach

  CAP return

  Valuation

  6%

  $1,421,176

  6.5%

  $1,311,854

  7%

  $1,218,150

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,123,153

  Geo Method

  $1,123,153

• Alternative Use

  Use

  Valuation

  Residential

  $1,626,699

  Hospitality

  $1,490,048

  Educational

  $1,239,702

  Medical

  $1,282,338

  Retail

  $1,928,426

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Latitude

41.9949

Longitude

-71.5215

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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