341 Burnside Avenue, Woonsocket, RI 02895 - Photo 1

1/1

$970,000

Sold
Closed
Commercial Multi-Family

1/1

Property Description

This is a chance to own (6) residential units and (1) stand-alone commercial building with a successful family-owned business that has thrived for decades. Multiple financing options available. Pete's Bait Shop is being sold with a history of success within the fishing community. Inquire for more information on business financials. The (6) residential units each span 1,110 +/- sq. ft, and are currently all rented. Current rents are below market. Proforma rent per unit is conservatively $1,400-1,700 per unit ($100,800-$122,400 annually) with minimal updating needed to obtain these proforma numbers. Not included in our valuation is the 4-bay garage that is large enough for 6 cars, nor does it include income from the existing business. Market rent for the commercial unit is between $2,000-$3,000 per month.

Full Property Details

Full Property Details for 341 Burnside Ave

General

Sold For: $970,000
Taxes: $11,140 (2023)
Status: Closed
Type: Commercial Multi-Family
Source: STWMLS
MLS ID: 1379516
Added to Site: 315 day(s) ago

Business

Name: Pete's Bait Shop
Business Type: Mixed, Real Estate
Year Established: 1973

Rooms

Other Rooms

Laundry: Common Area

Additional Information

Security/Safety: Smoke Detector(s)

Parking

Garage: Yes
Total Spaces: 16

Location

County: Providence
Subdivision: Blackstone, Massachusetts/RI Line
Near Highway: Yes

Community

Units Assoc/Comm: 7

Heating & Cooling

Cooling Type: None
Heating Type: Gas, Space Heater

Utilities

Sewer: Connected, Public Sewer
Water: Connected, Public
Cable Available: Yes
Utility Description: Cable Available, Electricity Available, Natural Gas Connected, Sewer Connected

Structural Information

# Buildings: 2
Property Detached: Yes
Structure Type: Multi Family
Detached/Attached: Detached
Basement: Yes
Basement Desc.: Full
Stories/Levels: 3
Building Size: 7740
Finished Total: 7,740 Sq. Ft.
Finished Above Grnd: 7,740 Sq. Ft.
Year Built: 1900

Lot Features

Lot Size (Acres): 0.25
Lot Size (Sq. Ft.): 11,531
Lot Size: 11531
Frontage: City Street, Paved
Sidewalks: Yes
Potential Use: Mixed Use

Financial Considerations

Tax Amount: $11,140
Tax Year: 2023

Disclosures and Reports

Documents Avail.: Aerial
Property ID: 341BURNSIDEAVWOON
Lot Number: 160/22

Listed and Sold by Smith and Oak Real Estate Co.

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— 341 Burnside Ave —

Smith and Oak Real Estate Co.

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Schools

Schools serving 341 Burnside Ave

School District:Woonsocket School District

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 341 Burnside Ave

Date

Details

Price

Change

Source

9/02/2025

Sold

$970,000

-22.39%

MLS

4/25/2025

Price Reduced

$1,249,900

-3.85%

MLS

4/04/2025

Price Reduced

$1,299,900

-7.14%

MLS

3/07/2025

Listed

$1,399,900

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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341 Burnside Ave, Woonsocket, RI 02895 - Photo 1

Sold

$970,000