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308 – 292 NW East School ST East School Street, Woonsocket, Commercial/Business

$ 1,795,000
308 - 292 NW East School ST East School Street, ,
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Overview

  • Updated On:
  • December 31, 2023

Description

This is a portfolio sale comprising of two properties containing four buildings on approx. six acres. 105,000 SF of space is presently occupied and the projected N.O.I of 229K is based on the entire property being rented. This also factors in a 10% vacancy rate. There have been substantial improvements made over the last five years and while more work remains to be completed, there will be a substantial upside to the cash flow upon completion. This property also features, lots of parking, front loading docks, high ceilings, open floor space and storage. It’s located near the highway and provides for easy access from routes 146, I495 & I295. It’s located in the Industrial zone, which is not only ideal for ecommerce but may be the ideal setting for the future Marijuana grow market. Please note that some numbers being reported are projected based on full occupancy.

Address: 308 - 292 NW East School ST East School Street
State/County:
Zip: 02895
Country: US
Open In Google Maps
Property Id : 98404
Price: $ 1,795,000
Property Lot Size: 5 ft2
Basement: None
Bridge Modification Timestamp: 2023-12-31T21:30:28.709Z
Building Area Total: 160000
Business Type: Industrial,Light Industrial,Manufacturing,Mixed,Storage,Warehouse/Distribution,Wholesale
Buyer Agent Email: jon@nextmoverealty.net
Buyer Agent Full Name: Jon Biliouris
Buyer Agent MlsId: 30851
Cap Rate: 12.7
Construction Materials: Masonry
Contract Status Change Date: 2021-10-22
Door Features: Loading Door
Electric: 400 Amps
Electric Expense: 24000
Existing Lease Type: Gross
Insurance Expense: 24000
Leasable Area: 159373
Lease Assignable Y/N: 1
Lease Considered Y/N: 1
List Agent Direct Phone: 401-529-6300
List Agent Email: alex@nextmoverealty.net
List Agent Full Name: The NMR Group
Listing Contract Date: 2021-10-01
Listing Id: 1295129
Living Area Units: Square Feet
Lot Features: Paved,Urban
Lot Size Area: 158168
Lot Size Square Feet: 158168
Lot Size Units: Square Feet
Maintenance Expense: 39550
Mls Status: Act Und Contract
Modification Timestamp: 2023-12-31T21:27:30.170Z
Net Operating Income: 229000
Number Of Buildings: 4
Number of Units in Community: 4
Number of Units Total: 1
Occupant Type: Tenant
Original Entry Timestamp: 2021-10-01T11:19:58.810Z
Original List Price: 1795000
Ownership Type: LLC
Parking Total: 100
Possible Use: Automotive,Commercial,Development,Industrial,Mini-Storage,Mixed Use,Nursery,Other,Recreational,Unimproved,Vacant,Warehouse,Industrial
Road Frontage Type: Municipal
Road Surface Type: Blacktop
Security Features: Fire Sprinkler System
Sewer: Connected
State or Province: RI
Status Change Timestamp: 2023-07-14T20:21:10.123Z
Stories Total: 3
Street Additional Info: 292
Street Dir Prefix: NW
Street Name: East School
Street Number: 308
Street Suffix: Street
Tax Annual Amount: 21708
Tax Year: 2020
Utilities: Cable Connected,Electricity Connected,Fiber Optic,Natural Gas Connected,Municipal Water,Street Lights,Phone Connected
Water Source: Connected
Year Built: 1904
Zoning: I1
Other Features
Electrical Utility Available
$ 6,959.57
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 6,959.57

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