124 Providence St Woonsocket, RI 02895-5140
- Investment properties
- 0.20 lot acres
Current Use by Public Records
- Investment properties
Property Details for 124 Providence St
- Lot size
- 0.20 lot acres
- Zone code
- R3
- Property type
- Investment properties
- Property subtype
- Live-work space
- 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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $395,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $475,000
- 6.5%
- $570,000
- 7%
- $570,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $560,000
- Geo Method
- $445,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $480,000
- Retail
- $535,000
- Mixed-Use
- $525,000
- Hospitality
- $495,000
- Educational
- $505,000
- Residential Income
- $540,000
- Energy
- $590,000
- Income-Based Land
- $560,000
- Food Service
- $500,000
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5215
- Latitude
- 41.9949
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
