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    292 Main St Woonsocket, RI 02895
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    Property profile & analytics

    292 Main St, Woonsocket, RI 02895

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    • Commercial real estate
    Off-Market
    Property ID
    US76-0076423
    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

    • Commercial real estate

    Property Details for 292 Main St

    Year built
    1849
    Property type
    Commercial real estate

    Description

    This exceptional 8,276 square foot commercial and residential land parcel presents a remarkable investment opportunity in Woonsocket, Rhode Island. Located at 292 Main Street, this property boasts a prime location and significant potential. The land, encompassing a substantial lot size, offers the unique possibility of developing or expanding existing structures. Currently improved with a two-story building constructed in 1849, containing one unit, the property generates a current annual income of $9,250. However, the existing structure's potential for increased revenue is significant, presenting a clear path for enhancing profitability. The property also includes a sizable parking area capable of accommodating up to ten vehicles, a valuable asset for tenants and future development plans. The asking price for this property is $829,000, and a fast closing is preferred. This is a first-come, first-served opportunity to acquire a highly desirable property in a thriving Rhode Island location. The property's zoning allows for both commercial and residential uses, providing flexibility for a wide range of development possibilities. This is an ideal investment for those seeking to build or expand their portfolio with a property offering immediate income and substantial upside potential. The property is situated in Providence County, Rhode Island, with a zip code of 02895.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5128521
    Latitude
    42.0046092

    Comparable in this City

    • New
      $449,900
      0.50 Acres

      Woonsocket Two-Family Home

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      Vacant Building in MU1 Zone

      Vacant 3,800 sq ft building on 10,173 sq ft lot.
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    • $899,000
      6,400 SF

      Mixed-Use Property with Development Potential

      Seven-unit mixed-use property with land for expansion.
      60 Rathbun St, Woonsocket, RI 02895
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    • $400,000
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      Woonsocket Redevelopment Opportunity

      Retail site with redevelopment potential for apartments or condos.
      617 Elm St, Woonsocket, RI 02895
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    • $1,200,000
      0.10 Acres

      Multifamily Property with Buildable Lot

      Woonsocket multifamily property with development potential near downtown.
      252 Front St, Woonsocket, RI 02895
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    • $399,000

      Well-Maintained Seven-Unit Apartment Building

      Seven-unit apartment building with garages, updated units, and long-term tenants.
      66 Hamlet Ave, Woonsocket, RI 02895
      View Details

    Similar Nearby for Sale

    • New
      $449,900
      0.50 Acres

      Woonsocket Two-Family Home

      Well-maintained two-family home near shopping, dining, and industrial park.
      1842 Mendon Rd, Woonsocket, RI 02895
      View Details
    • $199,000

      Vacant Building in MU1 Zone

      Vacant 3,800 sq ft building on 10,173 sq ft lot.
      115 Railroad St, Woonsocket, RI 02895
      View Details
    • $899,000
      6,400 SF

      Mixed-Use Property with Development Potential

      Seven-unit mixed-use property with land for expansion.
      60 Rathbun St, Woonsocket, RI 02895
      View Details
    • $400,000
      7,156 SF

      Woonsocket Redevelopment Opportunity

      Retail site with redevelopment potential for apartments or condos.
      617 Elm St, Woonsocket, RI 02895
      View Details
    • $1,200,000
      0.10 Acres

      Multifamily Property with Buildable Lot

      Woonsocket multifamily property with development potential near downtown.
      252 Front St, Woonsocket, RI 02895
      View Details
    • $399,000

      Well-Maintained Seven-Unit Apartment Building

      Seven-unit apartment building with garages, updated units, and long-term tenants.
      66 Hamlet Ave, Woonsocket, RI 02895
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Lease

      Land available for lease.
      1983 Diamond Hill Rd, Woonsocket, RI 02895
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 10,548 square feet.
      200 Social St, Woonsocket, RI 02895
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      1,414 SF

      Former Coffee Shop with Drive-Thru

      Move-in ready space with drive-thru, ideal for restaurant or retail.
      711 Front St, Woonsocket, RI 02895
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      8,267 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
      68 South Main St, Woonsocket, RI 02895
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      5,049 SF

      Cornerstone Building: Retail and Office

      67,752 square foot commercial building with retail and office units.
      191 Social St, Woonsocket, RI 02895
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    • Contact for pricing
      700 SF

      Downtown Woonsocket Retail/Office Space

      700 SF retail or office space in downtown Woonsocket.
      26 Main St, Woonsocket, RI 02895
      View Details
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    Woonsocket, RI 02895
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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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