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Property profile & analytics
FOR LEASE
Industrial properties
15 Island Pl Woonsocket, RI 02895
Entity Owned
4-yr Hold
Free & Clear
Property ID
US76-0022357
For Lease
1 / 6
$16 SF/Yr
15 Island Pl, Woonsocket, RI 02895
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Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1880
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,880 SF
Lot
0.44 ac (19,235 SF)
Zoning code
MU2
APN
WOON M:14H L:143 U:3
UPID
US76-0022357
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$647k
Blend (final)
Blend
$625k
Owner & transaction history
Millrace 3 Disrict LP · 4 yrs held
Millrace 3 Disrict LP
since 2021
7 recorded transactions
Zoning & alternative use
MU2 · Woonsocket, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Woonsocket submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Woonsocket submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$625k
Range $563k – $688k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$42 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2,506
Tax year 2023
Assessed value
$96,600
Assessed 2023
Previous assessed
$96,600
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$53,400
Assessed improvement
$43,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1880
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Buildings
1
Stories
3
Units
4
Bathrooms
4
Total area
14,880 SF
Lot
0.44 ac (19,235 SF)
Zoning code
MU2
APN
WOON M:14H L:143 U:3
UPID
US76-0022357
Jurisdiction
WOONSOCKET
Zoning & alternative use
MU2 · Woonsocket, RI
Zoning MU2 · permitted uses
MU2 · Woonsocket, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Woonsocket. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1880
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
STEAM
Stories
3
Buildings
1
Units
4
Bathrooms
4
Lot
0.44 ac
Current owner
From public records · entity-resolved
Millrace 3 Disrict LP
Entity
Free & Clear · 4 yrs held
Mailing address
15 IS PL, WOONSOCKET, RI 02895-5201
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2023
—
Millrace District LP
—
Deed
related
$1,745,430 · Rhode Island Housing & Mtg Fin Corp
Feb 21, 2022
—
Millrace District LP
—
Deed
related
$575,000 · Providence Revolving Fund
Dec 23, 2021
—
Millrace 3 Disrict LP
Woonsocket Nbrhd Dev Corp
Warranty Deed
—
Jul 16, 2021
—
Woonsocket Nbrhd Dev
—
Deed
related
$250,000 · Rhode Island Housing & Mtg Fin Corp
Mar 19, 2012
$300,000
Woonsocket Nbrhd&dev Tr
Aspen Islond Place LLC
Warranty Deed
—
Aug 3, 2007
$300,000
Aspen Island Place
15 Island Place
Deed
$150,000 · Citizens Bank Of Ma
Apr 26, 2005
$380,000
15 Island Place LLC
Stephen M Nelson
Deed
$185,000 · Banknorth Mtg Group
Jul 19, 2001
$124,000
Stephen M Nelson
Lambert,hector T
Grant Deed
$60,000 · Zenon Grzybowski
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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