Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1551 Diamond Hill Rd Woonsocket, RI 02895
    Property profile & analytics

    1551 Diamond Hill Rd Woonsocket, RI 02895

    View on Map
    • Showrooms
    • 10,415 SF
    • 2.45 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    Diamond Hill Road Retail Space For Lease
    $15 SF/Yr
    1,500 SF

    Diamond Hill Road Retail Space

    1500 sq ft commercial space with drive-thru on Diamond Hill.

    1551 Diamond Hill Rd, Woonsocket, RI
    View Listing
    Property ID
    US76-0092723
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Navy Recruiting Station Woonsocket / Military Recruiting Office
    • Armed Forces Career Center / Employment Agency
    • MARINE CORPS RECRUITING OFFICE / Military Recruiting Office
    • FIREWORKS RI / Discount Store / Party Supply Store
    • US Navy Enlisted Recruiting / Military Recruiting Office

    Property Details for 1551 Diamond Hill Rd

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.45 lot acres
    Property size
    10,415 SF
    Zone code
    C2
    Property type
    Showrooms
    APN
    WOON M:46B L:189 U:18
    APU
    WOONM46BL189U18

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,050,000
      6.5%
      $1,895,000
      7%
      $1,760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,931,000
      Market price range: $618k - $1.93M
      AI Estimate
      $1,462,000
      Market price range: $525k - $1.46M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,240,000
      Current use
      OFFICE BUILDING
      $1,995,000
      Change: +61% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4782
    Latitude
    42.0148
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $33,722
    $332,700
    $967,300
    $1,300,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      784th Riv St

      SHOW ROOM, WAREHOUSE
      784th Riv St, Woonsocket, RI 02895-1823
      View Details
    • Value Estimation by Request
      1.59 Acres

      Enterprise St

      SHOW ROOM, WAREHOUSE • 1.59 Acres
      Enterprise St, Woonsocket, RI 02895
      View Details
    • Value Estimation by Request
      2,256 SF

      95th Morton Ave

      SHOW ROOM, WAREHOUSE • 2,256 SF
      95th Morton Ave, Woonsocket, RI 02895-4413
      View Details
    • Value Estimation
      $3,105,000
      35,538 SF

      401 Clinton St

      SHOW ROOM, WAREHOUSE • 35,538 SF
      401 Clinton St, Woonsocket, RI 02895-3214
      View Details
    • Value Estimation
      $1,535,000
      9,100 SF

      1285 Mendon Rd

      SHOW ROOM, WAREHOUSE • 9,100 SF
      1285 Mendon Rd, Woonsocket, RI 02895-3936
      View Details
    • Value Estimation
      $650,000
      4,240 SF

      76 Providence St

      SHOW ROOM, WAREHOUSE • 4,240 SF
      76 Providence St, Woonsocket, RI 02895-5139
      View Details

    Similar Nearby for Sale

    • $3,250,000
      31,124 SF

      Freestanding Multi-Use Building For Sale

      31,124 SF building suitable for office, retail, or medical use.
      356 Clinton St, Woonsocket, RI 02895
      View Details
    • $555,000
      0.30 Acres

      Spacious Retail Property in Woonsocket

      4,500 SF retail property with modern amenities and ample parking.
      58 Hamlet Ave, Woonsocket, RI 02895
      View Details
    • $389,900
      1,215 SF

      Woonsocket Commercial Building Investment

      Prime location, high potential, 1215 sq ft.
      471 Arnold St, Woonsocket, RI 02895
      View Details
    • Contact for pricing

      Woonsocket Commercial Property For Sale

      Commercial property with automotive center, multiple possibilities for usage.
      72 Parker St, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      3,308 SF

      Office Building with Large Garage

      Office building with a large garage and expansion potential.
      188 Willow St, Woonsocket, RI 02895
      View Details
    • $299,000
      3,384 SF

      Woonsocket Commercial Property For Sale

      Commercial property with ample lot, garage stalls, and office.
      250 Manville Rd, Woonsocket, RI 02895
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,968 SF

      Retail Space in Regional Trade

      Retail space with excellent visibility and abundant parking.
      1416-1450 Park Ave, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      6,152 SF

      Retail Space Available Immediately

      Retail spaces available with signalized access and high traffic.
      1500 Diamond Hill Rd, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      1,500 SF

      Diamond Hill Road Retail Space

      1500 sq ft commercial space with drive-thru on Diamond Hill.
      1551 Diamond Hill Rd, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      3,189 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
      5 Island Pl, Woonsocket, RI 02895
      View Details
    • $8 SF/Yr

      Prominent Corner Retail Space Available

      Retail space with high visibility and flexible layout options.
      1081 Social St #1, Woonsocket, RI 02895
      View Details
    • $900 /Mo

      Retail/Office Space on High-Traffic Corner

      Move-in ready retail or office space with parking.
      520 Social St, Woonsocket, RI 02895
      View Details

    Property Visit Statistics

    • Visits by month
      10.4k
    • Visitors by month
      7.7k
    • Avg Time on site
      14 min
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1551 Diamond Hill Rd
    Woonsocket, RI 02895
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1551 Diamond Hill Rd, Woonsocket, RI, 02895
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!