Building Details

Year built 1930

Number of units 3

Listing Agency: Real Broker, Llc r***@therealbrokerage.com Show Phone

Listed By: Alea French Show Phone

Added: Apr 29 Changed: Sep 14 Last Checked: Oct 6 at 2:06AM

Report an Issue

MLS# 1411258

Copyright © 2026 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.

Investment Insights

Based on property information with market context.

This freestanding office building contains three units and 2712 square feet of space on a 0.1148-acre lot. The primary office arrangement extends across two floors and includes a reception or waiting area with durable flooring. The upper level is currently vacant and features large windows along with a full bathroom.

Built in 1930, the property offers dedicated signage and exposure to a high daily car count. Its Cranston address provides access to Providence, T.F. Green Airport, rail service, interstates, and Garden City. The building’s multi-unit configuration and existing office improvements support continued professional office use.

Key Highlights

• Three‑unit freestanding office building with 2712 square feet
• Two‑floor primary office layout with waiting area and durable flooring
• Vacant second floor includes large windows and a full bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,055

Cap Rate

7.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$701,100 $701.1K

Cap Rate 7%

$500,786 $500.8K

Cap Rate 9%

$389,500 $389.5K

Market Conditions

NOI Build-Up for 2,712 SF

Gross rent

$54.3K $20.04/SF

− Vacancy

−$7.6K −$2.81/SF

EGI

$46.7K $17.23/SF

− OpEx

−$11.7K −$4.31/SF

NOI

$35.1K $12.93/SF

Area

Providence County, RI

Vacancy

14.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$701,100

Cap Rate 7%

$500,786

Cap Rate 9%

$389,500

Alternative Uses

Best Use

Office B

$500.8K

$438.2K – $584.3K (±1% cap)

NOI $35,055 @ 7.0% cap · market cap 7.01%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$645.1K

$564.5K – $752.6K (±1% cap)

NOI $45,156 @ 7.0% cap · market cap 9.03%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

American Financial Network, ... Loan Service Schiappa Insurance Agency, ... Insurance Agency

Suggested Use

Top Pick Auto Parts Store Parking Lot & Garage HVAC Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,110

Businesses Nearby

Explore this area Business Placement

Demographics for 02910, RI

21,907

Population

9,319

Households

2.4

Avg Household Size

39

Median Age

30%

College-Educated

90%

High-School Grad

3.4 sq mi

ZIP Area

6,443

Density / Sq Mi

$85,909

Median Household Income

$47,538

Median Earnings

$1,385

Median Rent

$302,400

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Prime Cranston Retail/Office Opportunity

1037 Reservoir Ave, Cranston, RI

Contact for pricing

10,000 SF

View details

Three-Unit Mixed-Use Property

700 Reservoir Avenue, Cranston, RI 02910

$649,900

2,613 SF

View details

C2-Zoned Triplex Redevelopment

822 Atwood Avenue, Cranston, RI 02920

$779,000

2,808 SF

View details

Duplex with Two-Car Garage

33 Governor Street, Cranston, RI 02920

$600,000

2,340 SF

View details

Craftsman Duplex with Two-Car Garage

113 Beckwith St, Cranston, RI 02910

$669,000

3,054 SF

View details

Mixed-Use Property with Townhouse Residence

1289 Cranston Street, Cranston, RI 02920

$659,000

3,162 SF

View details

Two-Unit Duplex with Basement Space

30 Cliffdale Avenue, Cranston, RI 02905

$379,900

3,190 SF

View details

Duplex with 3-Car Garage

255 Farmington Avenue, Cranston, RI 02920

$599,000

2,129 SF

View details

Freestanding Commercial Kitchen Building

840 Park Avenue, Cranston, RI 02910

$599,900

3,552 SF

View details

Updated Duplex with Solar Panels

37 Old Oak Ave, Cranston, RI 02910

$780,000

2,294 SF

View details

Mixed-Use Building in Cranston

4 Gansett Ave, Cranston, RI 02920

$500,000

1,715 SF

View details

Duplex with Private Decks

55 Vinton Avenue, Cranston, RI 02920

$639,000

3,778 SF

View details

Frequently Asked Questions

What type of property is this?

Office building - Two-story office layout includes a waiting area, large windows, and a full bathroom in the vacant second-floor space.

Where is this office building located?

The property is located at 1006 Reservoir Avenue Cranston, RI.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Three‑unit freestanding office building with 2712 square feet; Two‑floor primary office layout with waiting area and durable flooring; Vacant second floor includes large windows and a full bathroom