55 Main StWoonsocket, RI 02895

Property Details for 55 Main St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.41 AC

Property size (Sq ft)

19,791 SF

Zone code

MU2

Property type

Showrooms

APN

WOON M:14E L:336 U:9

APU

WOONM14EL336U9

Description

This exceptional redevelopment opportunity presents a unique chance to acquire The Call Building, a substantial mixed-use property situated at 55 Main St, Woonsocket, Rhode Island, 02895. The 104,000 square foot building, constructed in 1928 and extensively renovated in 2025, boasts a commanding presence on a 1.42-acre lot. Currently vacant, this six-story structure offers 81 units, comprising 73 residential apartments and 8 commercial spaces. The property is zoned C1, providing flexibility for various uses. With ample parking for 20 vehicles, this investment is ideally positioned for significant returns. The sale includes four land parcels (14-336, 14-383, 14-331, and 14E-405), adding to its considerable value. The asking price is $3,450,000, translating to $33.17 per square foot. This is a partially finished project, presenting a unique opportunity for an investor to complete the renovation and capitalize on the high demand for residential and commercial space in this vibrant Rhode Island city. The property's prime location on Main Street ensures high visibility and accessibility. This is a rare chance to acquire a large-scale mixed-use property in a growing market. Don't miss this chance to transform this landmark building into a thriving commercial and residential hub.

• CAP approach

  CAP return

  Valuation

  6%

  $3,743,820

  6.5%

  $3,455,840

  7%

  $3,208,990

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,689,330

  Geo Method

  $2,689,330

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $6,739,220

  Mixed-Use / Specialty

  $3,443,520

  Hospitality / Lodging

  $2,526,400

  Office

  $3,423,060

  Institutional / Educational

  $3,579,870

  Residential Income

  $4,188,450

  Multifamily

  $5,023,400

  Automotive / Energy

  $3,068,460

  Parking / Income-Based Land

  $1,058,890

  Restaurant / Food Service

  $1,791,000

  Healthcare / Senior Housing

  $3,531,260

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Latitude

42.0012

Longitude

-71.5153

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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