426 Cass AveWoonsocket, RI 02895

Property Details for 426 Cass Ave

Year built

1952

Construction

FRAME

Lot size

0.22 AC

Property size (Sq ft)

1,518 SF

Zone code

MU1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WOON M:39F L:100 U:25

APU

WOONM39FL100U25

Description

This exceptional commercial property at 426 Cass Avenue in Woonsocket, Rhode Island, presents a unique investment opportunity. The 1,102 square foot building sits on a 0.22-acre lot and includes a thriving, well-established restaurant business. The sale includes all existing equipment, a valuable liquor license, and the building itself. Recent renovations have modernized the property throughout, ensuring a move-in ready condition for the new owner. The restaurant boasts a convenient drive-through window and outdoor seating, catering to a wide range of customer preferences. A full basement provides substantial storage space, adding to the property's practicality. The strategic location on a busy street offers high visibility and convenient access to Cass Park, a local hospital, and a high school, ensuring a consistent flow of potential customers. Ample paved parking is available on-site, enhancing customer convenience. While currently operating as a successful restaurant, the property's versatility allows for a variety of alternative commercial uses, making it an adaptable and valuable asset. The property's strong performance and prime location make this a compelling investment opportunity. The asking price is $675,900.

• CAP approach

  CAP return

  Valuation

  6%

  $368,927

  6.5%

  $340,548

  7%

  $316,223

• Comparable approach

  Method

  Valuation

  Relative Method

  $499,822

  Geo Method

  $499,822

• Alternative Use

  Use

  Valuation

  Residential

  $287,265

  Hospitality

  $263,133

  Educational

  $218,924

  Medical

  $226,453

  Retail

  $340,548

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Latitude

42.006

Longitude

-71.4913

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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