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    The Largest CRE Database in the US with Over 1 Million Listings

    838 Reservoir Ave Cranston, RI 02910

    Sponsored
    For Sale
    $399,000

    COMMERCIAL - Cranston, RI

    Type:Office
    Lot size:
    0.02 Acres
    Days on Market:
    76
    Last Refresh:
    Feb 2 at 9:06 pm

    Property Features for 838 Reservoir Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    C1
    Rooms
    Basement
    Lot size
    0.02 Acres

    Utilities

    Heating system
    Zoned, Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Building materials
    Frame

    We can help!

    Listing Contact
    Michael Russo
    Michael Russo

    RI Real Estate Services (401) 465-0417

    Listing agent Michael Russo (401) 465-0417

    Listing date Nov 19, 2025

    MLS# 1399777

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Freestanding Office Building

    This is a completely renovated freestanding office building situated on a highly visible corner lot in a central, easily accessed location in Cranston, Rhode Island. The property has undergone a complete rehabilitation, including all structural, mechanical, and cosmetic systems. The main office space spans two floors and includes a welcoming waiting area with durable porcelain tile flooring, a kitchenette, a bathroom, and a private office on the first floor. The second floor features two additional private offices and a second bathroom, also finished with porcelain tile and premium Vigo vessel sinks. A 400+/- sq. ft. unfinished basement, complete with a separate entrance and bathroom hookups, provides potential for a secondary office suite, rental income, or secure storage. The property is move-in ready and suitable for professionals seeking a turnkey solution in a high-visibility location. It also features signage with a high daily car count and quick access to Providence, Rhode Island Airport, Rail, Interstates, and other points. The lot size is 0.02 acres. The property can be conveyed furnished for immediate use. The zoning is C1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Nicholas Colangelo Law ... Law Firm Criminal Defense Lawyer, ... Law Firm Home Safe Home ... Home Inspector

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cranston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.445765
    Latitude
    41.777668

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    FAQs

    What type of property is this?
    Office building - Completely renovated office building on a highly visible corner lot.
    Where is this office building located?
    The property is located at 838 Reservoir Ave Cranston, RI.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - Completely renovated, freestanding office building with new structural, mechanical, and cosmetic systems ensuring low-maintenance ownership.; - **Highly visible corner lot** in a central, easily accessed location with excellent signage and high daily car count.; - **Move-in ready, turnkey solution** for professionals.
    (401) 885-5400
    Request Owner's contact information
    838 Reservoir Ave Cranston, RI 02910
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    Cranston, RI 02910
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    838 Reservoir Ave Cranston, RI 02910
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    We can help!
    Listing Contact
    Michael Russo
    Michael Russo
    Real Estate License ID: REB.0018125
    (401) 885-5400
    Learn more
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