43 Federal St Woonsocket, RI 02895

This exceptional Woonsocket, RI property at 43 Federal Street offers a unique investment opportunity. The 16,034 square foot, two and three-story brick building, situated on a 0.47-acre lot, presents significant potential for adaptive reuse or redevelopment. Previously used as school/classroom space by the YMCA, the property boasts exposed brick and historical character. Its C-1 zoning, coupled with a Downtown Overlay District designation, allows for a variety of uses, including residential, office, creative, loft, and live/work spaces. The property includes three parcels and features a rear basketball court/playground area with potential for conversion into on-site parking. A connecting catwalk to a neighboring property (also available for sale) adds further development possibilities. Annual property taxes are $20,375.87. This prime location offers convenient access to amenities and transportation. The property is ideal for investors seeking a versatile asset with substantial upside potential in a thriving urban setting. Consider the possibilities of this unique and historically significant building.