341 Burnside Avenue Woonsocket, Rhode Island
Listed By Smith And Oak Real Estate Co.
The Commercial Property for Sale located at Woonsocket, Rhode Island is currently for sale. Woonsocket, Rhode Island is listed for $1,399,900. This property has Total Parking features. If the property located at Woonsocket, Rhode Island isn't what you're looking for, visit https://www.rilivingglobal.com to see other Commercial Properties for Sale in Woonsocket .
Date Updated : Mar 15, 2025
MLS#: 1379516
$1,399,900 USD
Property features
Key features
- Total Parking
Construction details
- Year built: 1900
Other features
- Heating system: Space Heater Gas
Description
This is a chance to own (6) residential units and (1) stand-alone commercial building with a successful family-owned business
that has thrived for decades. Multiple financing options available. Pete's Bait Shop is being sold with $300K worth of inventory, and a history of success within the fishing community. Inquire for more information on business financials. The (6) residential units each span 1,110 +/- sq. ft, and are currently all rented. Current rents are below market. Proforma rent per unit is conservatively $1,400-1,700 per unit ($100,800-$122,400 annually) with minimal updating needed to obtain these proforma numbers. Not included in our valuation is the 4-bay garage that is large enough for 6 cars, nor does it include income from the existing business. Market rent for the commercial unit is between $2,000-$3,000 per month if not owner-operated. PROFORMA CAP RATE only using potential rental income + accounting for selling $300K worth of inventory: 9.25%-11.74%. Showings by appointment only.
Location
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