2 Monument SqWoonsocket, RI 02895

Property Details for 2 Monument Sq

Year built

1930

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.32 AC

Property size (Sq ft)

7,742 SF

Zone code

C1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WOON M:14A L:278 U:21

APU

WOONM14AL278U21

Description

This exceptional commercial property at 2 Monument Square in Woonsocket, Rhode Island, presents a unique investment opportunity. Situated on a 0.32-acre lot directly across from the Stadium Theatre and Conservatory, this high-traffic location ensures maximum visibility and accessibility. The building boasts eight units, offering diverse possibilities for a variety of businesses. The ground floor comprises four spacious storefront units, each featuring high ceilings and large storefront windows that flood the interiors with natural light, creating an inviting atmosphere for customers. These units are ideal for retail or businesses requiring high visibility. Upstairs, four additional office suites are available, designed with handicap accessibility in mind. These spaces are perfectly suited for medical or dental practices, beauty salons, spas, or other health services businesses. A significant advantage is the on-site 15-space parking lot, ensuring convenient parking for tenants and their clients. Further parking is readily available in a nearby municipal lot, addressing potential overflow needs in this bustling area. The property's prime location, coupled with the vibrant surrounding community and proximity to the renowned Stadium Theatre, makes this a truly exceptional investment opportunity for those seeking to establish or expand their business presence in a thriving commercial district. The asking price for this remarkable property is $789,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,881,576

  6.5%

  $1,736,840

  7%

  $1,612,780

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,549,156

  Geo Method

  $2,549,156

• Alternative Use

  Use

  Valuation

  Residential

  $1,465,089

  Hospitality

  $1,342,014

  Educational

  $1,116,540

  Medical

  $1,154,939

  Retail

  $1,736,840

Location Insight

City

Woonsocket

County

Providence

State

Rhode Island

Latitude

42.0053

Longitude

-71.5131

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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