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    324 4Th Ave Woonsocket, RI 02895
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    324 4Th Ave, Woonsocket, RI 02895

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    • Apartment buildings
    • 3,852 SF
    For Sale
    $600,000
    View Listing →
    Five-Unit Multifamily Investment Opportunity For Sale
    $600,000
    3,852 SF

    Five-Unit Multifamily Investment Opportunity

    Fully occupied five-unit building with recent updates, sold as package.

    324 Fourth Avenue, Woonsocket, RI 2895
    View Listing
    Property ID
    US76-0029379
    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

    • Apartment buildings

    Property Details for 324 4Th Ave

    Year built
    1937
    Property type
    Apartment buildings

    Description

    Spectacular opportunity to build your portfolio! Solid five unit building being sold as a package with 314 Fourth Ave. for ten units total. Fully occupied, competitive rents, many recent updates.

    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
    -71.5293323
    Latitude
    42.002563

    Comparable in this City

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      Woonsocket Multifamily Investment Opportunity

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      Woonsocket Multifamily Investment Opportunity

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      Well-Maintained Seven-Unit Apartment Building

      Seven-unit apartment building with garages, updated units, and long-term tenants.
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      Woonsocket Multi-Family Investment Opportunity

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    • $575,000
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      Woonsocket Multifamily Investment Opportunity

      Five-unit residential building in Woonsocket with strong rental appeal.
      79 Hamlet Ave, Woonsocket, RI 02895
      View Details

    Similar Nearby for Sale

    • $1,675,000
      12,336 SF

      Woonsocket Multifamily Investment Opportunity

      Twelve-unit multifamily property with income potential in Woonsocket, Rhode Island.
      64 Harrison Ave, Woonsocket, RI 02895
      View Details
    • Contact for pricing

      Woonsocket Multifamily Investment Opportunity

      Five-unit residential building with strong income potential in Woonsocket.
      79 Hamlet Ave, Woonsocket, RI 02895
      View Details
    • $699,900
      0.11 Acres

      Woonsocket Multifamily Investment Opportunity

      Turnkey 7-unit multifamily property in Woonsocket, Rhode Island.
      226 S Main 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
    • $900,000
      Pending

      Woonsocket Multi-Family Investment Opportunity

      Eight-unit multi-family property with expansion potential in Woonsocket, Rhode Island.
      35 Greene St, Woonsocket, RI 02895
      View Details
    • $575,000
      Pending

      Woonsocket Multifamily Investment Opportunity

      Five-unit residential building in Woonsocket with strong rental appeal.
      79 Hamlet Ave, Woonsocket, RI 02895
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 10,548 square feet.
      200 Social St, Woonsocket, RI 02895
      View Details
    • Contact for pricing
      1,414 SF

      Former Coffee Shop with Drive-Thru

      Move-in ready space with drive-thru, ideal for restaurant or retail.
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      8,267 SF

      Millrace District Commercial Spaces

      Commercial spaces for rent in the Millrace District.
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      5,049 SF

      Cornerstone Building: Retail and Office

      67,752 square foot commercial building with retail and office units.
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      Downtown Woonsocket Retail/Office Space

      700 SF retail or office space in downtown Woonsocket.
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    • $15 SF/Yr
      1,800 SF

      Versatile Commercial Space on Front

      1800 sqft commercial space suitable for various business ventures.
      754 Front St, Woonsocket, RI 02895
      View Details
    View Listing
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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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