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    Property profile & analytics

    229 1st Ave Woonsocket, RI 02895-4107

    • Industrial properties
    • 85,474 SF
    • 4.30 lot acres
    OFF-MARKET
    Value Estimations
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0122813
    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.

    Current Use by Public Records

    • Industrial properties

    Property Details for 229 1st Ave

    Year built
    1890
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.30 lot acres
    Property size
    85,474 SF
    Zone code
    I1
    Property type
    Industrial properties
    APN
    WOON M:6A L:118 U:8
    APU
    WOONM6AL118U8

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $860,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,266,000
      Market price range: $1.27M - $2.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5259
    Latitude
    42.0036
    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
    $6,101
    $235,200
    $0.00
    $235,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $860,000
      100,263 SF

      100 Goldstein Dr

      INDUSTRIAL (GENERAL) • 100,263 SF
      100 Goldstein Dr, Woonsocket, RI 02895-6169
      View Details
    • Value Estimation
      $565,000
      18,352 SF

      171 Saint Augustin St

      INDUSTRIAL (GENERAL) • 18,352 SF
      171 Saint Augustin St, Woonsocket, RI 02895-6126
      View Details
    • Value Estimation
      $210,000
      12,012 SF

      581 Main St

      INDUSTRIAL (GENERAL) • 12,012 SF
      581 Main St, Woonsocket, RI 02895-1151
      View Details
    • Value Estimation
      $70,000
      4.09 Acres

      20 Privilege St

      INDUSTRIAL (GENERAL) • 4.09 Acres
      20 Privilege St, Woonsocket, RI 02895-1239
      View Details
    • Value Estimation
      $780,000
      43,862 SF

      88 Century Dr

      INDUSTRIAL (GENERAL) • 43,862 SF
      88 Century Dr, Woonsocket, RI 02895-6161
      View Details
    • Value Estimation
      $385,000
      6.42 Acres

      84 Fairmount St

      INDUSTRIAL (GENERAL) • 6.42 Acres
      84 Fairmount St, Woonsocket, RI 02895-2928
      View Details

    Similar Nearby for Sale

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      Pending

      Woonsocket Commercial Property For Sale

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      Woonsocket Industrial Property - Huge Potential

      16,500 SF lot, multi-use potential.
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    • $1,295,000
      10,414 SF

      Modern Industrial Building on Acreage

      10,414 SF industrial building on 3.34 acres for sale.
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    • $3,825,000
      105,935 SF

      Industrial Mill Multifamily Conversion Potential

      105,935 SF industrial mill ideal for multifamily conversion.
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    • Contact for pricing
      2.77 Acres

      Woonsocket Commercial Space For Sale

      2541 SF commercial space in Woonsocket, Rhode Island.
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      View Details

    Similar Nearby for Lease

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      204,296 SF

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      1265 Mendon Rd, Woonsocket, RI 02895
      View Details
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      132,026 SF

      Industrial Manufacturing Building For Lease

      132,026 SF industrial manufacturing building on 4.33 acres.
      128 Singleton St, Woonsocket, RI 02895
      View Details
    • $14 SF/Yr
      1 SF

      Diamond Hill Road Commercial Space

      2,250 SF Retail/Office Space, Ample Parking
      2168 Diamond Hill Rd, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      3,140 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
      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
      56,950 SF

      Woonsocket Retail Space Available

      Prime Retail Space, 56,950 SF Available
      1400 Park Ave, Woonsocket, RI 02895
      View Details
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    229 1st Ave
    Woonsocket, RI 02895-4107
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    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
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