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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    294 Woonasquatucket Ave North Providence, RI 02911

    • Small apartment buildings
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0015494
    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

    • Small apartment buildings

    Property Details for 294 Woonasquatucket Ave

    Year built
    1900
    Property type
    Small apartment buildings

    Description

    This exceptional investment opportunity presents a well-maintained multifamily property located at 294 Woonasquatucket Avenue, North Providence, Rhode Island, 02911. The property consists of two buildings situated on a sizable 10,000 square foot lot. The original structure, a two-unit building on Woonasquatucket Avenue, complements a newer six-unit building located on Oak Street. In total, the property offers eight residential units, a mix of six one-bedroom units and two two-bedroom units. Built in 1900, the buildings are three stories high and boast a strong rental history, demonstrating consistent income generation. The property's convenient location offers significant potential for increased rental income. Ample parking is available, a significant advantage for tenants. The asking price for this multifamily property is $1,200,000. This presents a rare chance to acquire a well-established, income-producing asset in a desirable Rhode Island location. The property's size and established rental income make it an attractive investment for both seasoned and aspiring real estate investors. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4773603
    Latitude
    41.8434934

    Comparable in this City

    • $1,595,000

      Greystone Ave Multifamily Investment

      Eleven-unit apartment building, North Providence, RI.
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      Turnkey Mixed-Use Investment Opportunity

      Mixed-use property with commercial and residential income streams.
      15 Thomas St, North Providence, RI 02911
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    • $475,000
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      North Providence Brick Two-Family Home

      Two-family home with two-car garage and fenced backyard.
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      Renovated Two-Family Near Rhode Island College

      Well-maintained two-family property near Rhode Island College, ideal for investors.
      164 Fruit Hill Ave, Providence, RI 02911
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      North Providence Two-Family Home

      Well-maintained two-family home in a convenient North Providence location.
      22 Whipple Ave, North Providence, RI 02911
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    • $750,000
      2,700 SF

      Prime RI Mixed-Use Investment

      Restaurant, 2 residential units, high income.
      1942 Smith St, North Providence, RI 02911
      View Details

    Similar Nearby for Sale

    • $1,595,000

      Greystone Ave Multifamily Investment

      Eleven-unit apartment building, North Providence, RI.
      1 Greystone Ave, North Providence, RI 02911
      View Details
    • $1,490,000
      0.40 Acres

      Turnkey Mixed-Use Investment Opportunity

      Mixed-use property with commercial and residential income streams.
      15 Thomas St, North Providence, RI 02911
      View Details
    • $475,000
      Pending

      North Providence Brick Two-Family Home

      Two-family home with two-car garage and fenced backyard.
      15 Lookout Ave, North Providence, RI 02911
      View Details
    • $550,000
      Pending

      Renovated Two-Family Near Rhode Island College

      Well-maintained two-family property near Rhode Island College, ideal for investors.
      164 Fruit Hill Ave, Providence, RI 02911
      View Details
    • $549,900
      Pending

      North Providence Two-Family Home

      Well-maintained two-family home in a convenient North Providence location.
      22 Whipple Ave, North Providence, RI 02911
      View Details
    • $750,000
      2,700 SF

      Prime RI Mixed-Use Investment

      Restaurant, 2 residential units, high income.
      1942 Smith St, North Providence, RI 02911
      View Details
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    294 Woonasquatucket Ave
    North Providence, RI 02911
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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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