57 Main St Woonsocket, RI 02895-3109

Property Details for 57 Main St

Lot size

0.10 lot acres

Zone code

MU1

Property type

Investment properties

Property subtype

Live-work space

APN

WOON M:13C L:97 U:4

APU

WOONM13CL97U4

Description

This exceptional mixed-use property, located at 57 North Main Street in the heart of Woonsocket, Rhode Island, presents a unique investment opportunity. The 0.1-acre lot encompasses three separate buildings, offering diverse income streams and significant redevelopment potential. The first building is currently leased month-to-month as a barber shop. The second building features a commercial storefront ideal for a variety of uses, such as a coffee shop, restaurant, or bar, and includes three residential apartments (two one-bedroom units and one studio), all under month-to-month leases. The third building is a three-bedroom, one-and-a-half-bathroom single-family home, also rented on a month-to-month basis. The property offers convenient off-street parking for at least five vehicles, supplemented by free parking at an adjacent municipal lot. The property's prime location near the Stadium Theatre, restaurants, and breweries ensures high visibility and foot traffic. With a total of 3,750 square feet of space, this property is priced at $650,000 and offers a compelling blend of established rental income and exciting future development possibilities. The flexible lease terms provide immediate cash flow and the opportunity to increase rental income through lease renewals and renovations. This is an excellent chance to acquire a substantial mixed-use property in a thriving downtown area.

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Longitude

-71.5128

Latitude

42.0065

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments