106 Main St Woonsocket, RI 02895
- Investment properties
- 1,154 SF
- 0.03 lot acres
Current Use by Public Records
- Investment properties
Property Details for 106 Main St
- Year built
- 1888
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.03 lot acres
- Property size
- 1,154 SF
- Zone code
- C1
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- WOON M:14U L:127 U:12
- APU
- WOONM14UL127U12
Description
This exceptional mixed-use property, located at 106 Main Street in Woonsocket, Rhode Island, presents a unique investment opportunity. The Honan Block, a historically significant building constructed in 1879 and listed on the National Register of Historic Places, comprises two interconnected buildings totaling 6,400 square feet on a 5,227.2 square foot lot. The property features five units: two commercial spaces and three residential apartments. The commercial units consist of a retail store currently leased for $1,050 per month and a café/restaurant leased for $1,100 per month. The three residential units offer a mix of sizes and layouts. Unit 1A is a spacious 2,000 square foot, three-bedroom, two-bathroom apartment leased for $2,295 per month. Units 2B and 3C are each 1,100 square feet, featuring two bedrooms and one bathroom, currently leased for $1,200 and $1,295 per month respectively. Each unit has been thoughtfully updated while preserving the building's historic charm, showcasing features such as tin ceilings, brick walls, and expansive windows. Residential units boast loft-like floor plans, hardwood floors, high ceilings, and abundant natural light. The property benefits from recent upgrades including updated windows, modern wiring, and plumbing. This offering is ideal for both owner-occupants and investors seeking a high-yield, historically significant property in a desirable downtown location. The asking price for this exceptional property is $799,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $770,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $815,000
- 6.5%
- $835,000
- 7%
- $855,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $695,000
- Geo Method
- $850,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $950,000
- Retail
- $915,000
- Mixed-Use
- $815,000
- Hospitality
- $930,000
- Educational
- $700,000
- Residential Income
- $720,000
- Energy
- $730,000
- Income-Based Land
- $720,000
- Food Service
- $750,000
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5148
- Latitude
- 42.0022
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
