271-285 Main St, Woonsocket, RI 02895
10 Apartment Units | Online Auction Sale | Woonsocket, RI 02895
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 33,228 SF
Listing Contacts
John Flaherty
Derek Brazeau
Carlos Silguero
Property Overview
Cushman & Wakefield’s Multifamily Advisory Group, in collaboration with Ten-X, is pleased to present the opportunity to acquire 285
Main Street, a 19-unit, mixed use building, located in the heart of Downtown – Woonsocket, Rhode Island. The property boasts 10 oversized (2 bed / 1 bath) apartment units located on the 2nd floor of the building and 9 commercial suites spanning the first floor and lower level. The asset offers investors the opportunity to acquire an extremely well maintained, cash flowing asset, with significantly below market, in-place rents and tremendous “value-add” potential.
The property benefits greatly from its strategic location, along the Rhode Island/Massachusetts border, which provides residents immediate access to employment drivers and transportation options located in both States. The property offers tenants convenient access to major thoroughfares such as, I-495, I-295, and I-95, providing great accessibility for residents needing access to surrounding destinations throughout Rhode Island, as well as nearby employment, retail, dining, and entertainment attractions in Massachusetts.
Since acquiring the property, current ownership has invested significantly in the asset, including installation of a new roof, repaving of the parking lot, complete façade replacement, and various unit and system upgrades. Currently 100% leased, the asset sits on 0.62 AC across two parcels, and offers 40 striped parking spaces in the rear of the property.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Main Street, a 19-unit, mixed use building, located in the heart of Downtown – Woonsocket, Rhode Island. The property boasts 10 oversized (2 bed / 1 bath) apartment units located on the 2nd floor of the building and 9 commercial suites spanning the first floor and lower level. The asset offers investors the opportunity to acquire an extremely well maintained, cash flowing asset, with significantly below market, in-place rents and tremendous “value-add” potential.
The property benefits greatly from its strategic location, along the Rhode Island/Massachusetts border, which provides residents immediate access to employment drivers and transportation options located in both States. The property offers tenants convenient access to major thoroughfares such as, I-495, I-295, and I-95, providing great accessibility for residents needing access to surrounding destinations throughout Rhode Island, as well as nearby employment, retail, dining, and entertainment attractions in Massachusetts.
Since acquiring the property, current ownership has invested significantly in the asset, including installation of a new roof, repaving of the parking lot, complete façade replacement, and various unit and system upgrades. Currently 100% leased, the asset sits on 0.62 AC across two parcels, and offers 40 striped parking spaces in the rear of the property.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Property Details
- Class
- C
- Year Built
- 1976
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 27,443 SF
- Units
- 10
Highlights
- Mixed-use asset perfectly situated in charming downtown Woonsocket and surrounded by local restaurants, shops, shopping, and entertainment.
- Main Street is highly visible and a major downtown artery, seeing over 9,800 vehicles per day of residents and visitors.
- Woonsocket is ideally placed just 30 minutes north of Providence and minutes to the Rhode Island and Massachusetts border.
- Woonsocket has a steadily growing population with a high average household income of $107,340 in a 10-mile radius.
- Area boasts major spending power with over $4.22 billion spent annually in a 10-mile radius of the property.
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