292 Main St Woonsocket, RI 02895

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.