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    Property profile & analytics

    463 Main St Woonsocket, RI 02895-5163

    • Investment properties
    • 5,609 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0107164
    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

    • Investment properties

    Property Details for 463 Main St

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.85 lot acres
    Property size
    5,609 SF
    Zone code
    R3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WOON M:4A L:159 U:10
    APU
    WOONM4AL159U10

    Description

    This exceptional three-story funeral home, located at 463 South Main Street in Woonsocket, Rhode Island, presents a unique investment opportunity. The property boasts a substantial 8,428 square feet of building space situated on a generous 37,026 square foot lot. The building features multiple service rooms, a dedicated office area, and a well-equipped preparation room with ample storage in the basement. Adding to its versatility, the upper levels include a residential apartment, providing additional income potential or comfortable living quarters. The property also offers convenient parking with 35+ lined spaces and a two-car garage. Its strategic location provides easy access to Route 146 and the Massachusetts state line, ensuring high visibility and convenient access for clients. The property is zoned R-3 (Residential), offering flexibility for future development or continued operation as a funeral home. Priced at $850,000, this property represents a compelling investment in a well-established business and prime real estate in Providence County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,105,000
      6.5%
      $1,020,000
      7%
      $945,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $868,000
      Market price range: $333k - $1.04M
      AI Estimate
      $659,000
      Market price range: $283k - $788k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $665,000
      Current use
      OFFICE BUILDING
      $1,075,000
      Change: +61% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Woonsocket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.526
    Latitude
    41.9941
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $128,200
    $382,000
    $510,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,960,000
      45,648 SF

      99 Main St, Unit 117

      OFFICE/RESIDENTIAL (MIXED USE) • 45,648 SF
      99 Main St, Woonsocket, RI 02895-4312
      View Details
    • Value Estimation by Request
      1,165 SF

      57 Cato St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,165 SF
      57 Cato St, Woonsocket, RI 02895-3003
      View Details
    • Value Estimation by Request
      0.20 Acres

      124 Providence St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.20 Acres
      124 Providence St, Woonsocket, RI 02895-5140
      View Details
    • Value Estimation
      $750,000
      8,084 SF

      61 Railroad St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,084 SF
      61 Railroad St, Woonsocket, RI 02895-3080
      View Details
    • Value Estimation by Request
      0.35 Acres

      95 Rathbun St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.35 Acres
      95 Rathbun St, Woonsocket, RI 02895-2076
      View Details
    • Value Estimation
      $850,000
      0.18 Acres

      257 Manville Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 0.18 Acres
      257 Manville Rd, Woonsocket, RI 02895-5658
      View Details

    Similar Nearby for Sale

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      Prime RI location, high potential. $390,000.
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      Seven-unit mixed-use property with land for expansion in Woonsocket.
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      8,428 SF

      Woonsocket Funeral Home with Apartment

      Three-story funeral home with residential apartment for sale.
      463 S Main St, Woonsocket, RI 02895
      View Details
    • $899,000
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      Mixed-Use Property with Development Potential

      Seven-unit mixed-use property with land for expansion.
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    • $199,000

      Vacant Building in MU1 Zone

      Vacant 3,800 sq ft building on 10,173 sq ft lot.
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    Similar Nearby for Lease

    • Contact for pricing
      56,950 SF

      Woonsocket Retail Space Available

      Prime Retail Space, 56,950 SF Available
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      Land lease opportunity with high visibility and development potential.
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      1,500 SF

      Diamond Hill Road Retail Space

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      5,052 SF

      Woonsocket Commercial Building For Lease

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    • $8 SF/Yr
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      Prominent Corner Retail Space Available

      Retail space with high visibility and flexible layout options.
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      View Details
    • Contact for pricing
      10,717 SF

      Downtown Woonsocket Office/Retail Space

      Office/retail space in downtown Woonsocket with ample parking.
      1 Social St, Woonsocket, RI 02895
      View Details
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    Woonsocket, RI 02895-5163
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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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