342 Park AveWoonsocket, RI 02895

Property Details for 342 Park Ave

Year built

1989

Property size (Sq ft)

5,052 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional three-story, 5,052 square foot office building, located at 342 Park Avenue in Woonsocket, Rhode Island, presents a compelling investment opportunity. Built in 1989 and extensively renovated within the past six years, this Class B property boasts a desirable location on a main thoroughfare with convenient highway access and ample parking (25 spaces) via two curb cuts. The building is situated on a 22,647 square foot lot and is zoned R3. Currently, approximately 66% occupied, the middle and upper floors (approximately 4,042 square feet) are leased to World Insurance Agency until December 31, 2025. The ground floor (approximately 1,010 square feet) is vacant and ready for immediate occupancy. Recent improvements include HVAC upgrades (A/C units replaced five years ago, duct cleaning completed in March 2024), a central station fire alarm system, and security cameras. The asking price is $925,000, translating to $183.10 per square foot. This multi-unit property offers a blend of stable income and potential for growth, making it an ideal owner-user or investment opportunity. Floor plans are available upon request. The property features three units, across three stories, and is privately owned. The APN is 037/0613/000.

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Latitude

41.9979

Longitude

-71.5109

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