382 Woodruff AveSouth Kingstown, RI 02879

Property Details for 382 Woodruff Ave

Year built

1920

Construction

FRAME

Lot size

0.30 AC

Property size (Sq ft)

1,338 SF

Zone code

R10

Property type

Showrooms

APN

SKIN P:057-4 L:000123

APU

SKINP0574L000123

Description

This exceptional South Kingstown, RI property at 382 Woodruff Avenue presents a unique investment opportunity. The 3,068 square foot lot features a single-story, 1920-built building currently configured as a storefront, previously operating as a long-term hair salon. The property boasts over 20 parking spaces, a significant advantage in this desirable location. Its prime position near downtown amenities, including markets and ice cream shops, and proximity to a bike path, ensures high visibility and accessibility. Zoning allows for diverse uses, potentially including expansion or subdivision into two separate buildings (subject to town approval). This property has enjoyed consistent ownership for over 30 years, offering a rare chance to acquire a well-established business or redevelop a highly desirable site. The property's location offers easy access to the beach, adding to its overall appeal. The asking price is $599,000. While currently configured as a commercial storefront, alternative uses are possible, including conversion to a single-family home (refer to MLS ID: 1369307 for details on that option). This is an ideal opportunity for entrepreneurs and investors seeking a versatile property in a thriving Rhode Island community.

• CAP approach

  CAP return

  Valuation

  6%

  $325,181

  6.5%

  $300,167

  7%

  $278,726

• Comparable approach

  Method

  Valuation

  Relative Method

  $440,554

  Geo Method

  $440,554

• Alternative Use

  Use

  Valuation

  Residential

  $253,202

  Hospitality

  $231,932

  Educational

  $192,964

  Medical

  $199,601

  Retail

  $300,167

Location Insight

City

South Kingstown

County

Washington

State

Rhode Island

Latitude

41.4374

Longitude

-71.4956

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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