Freestanding Three-Unit Office
1006 Reservoir Avenue Cranston, RI 02910
1006 Reservoir Avenue, Cranston, RI, 02910
$649,900
For Sale
$649,900
Three-unit freestanding office building with two-floor main suite and strong signage visibility.
Property Size2,712 SF
Price / SF$239.64
Days on Market96
Property Features for 1006 Reservoir Avenue
General Information
- Standard status
- Active
- Size
- 2,712 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1930
Listing Agency
EXIT Real Estate Property Solutions
(386) 301-7918
Listed by
Brianna Logan · License #3492021
(386) 301-7918
Source
Xome
Added: Apr 17 Updated: Jul 10 at 1:56 pm Checked: Jul 10 at 4:02 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Real Estate Property Solutions
Investment Insights
Based on property information with market context.
This freestanding three-unit office building offers a flexible configuration for professional users or investors. The main office spans two floors and includes a welcoming waiting area with durable flooring. The second-floor space is bright, with large windows, and features a full bathroom.
Located on Reservoir Avenue in Cranston, the property sits on a highly visible lot in a central, easily accessed setting. On-site signage supports business identification, and the remarks indicate very high daily car counts. Access is described as quick to key regional destinations, including Providence, the airport, rail, and nearby interstates, as well as Garden City.
The building’s layout can work well for tenants that value a dedicated, multi-level office presence along with an additional set of office units. With a waiting area on the main level, an amenity-complete second floor, and a straightforward three-unit structure, this offering is positioned as a practical, turnkey option for office operations seeking visibility and convenient regional connectivity.
Located on Reservoir Avenue in Cranston, the property sits on a highly visible lot in a central, easily accessed setting. On-site signage supports business identification, and the remarks indicate very high daily car counts. Access is described as quick to key regional destinations, including Providence, the airport, rail, and nearby interstates, as well as Garden City.
The building’s layout can work well for tenants that value a dedicated, multi-level office presence along with an additional set of office units. With a waiting area on the main level, an amenity-complete second floor, and a straightforward three-unit structure, this offering is positioned as a practical, turnkey option for office operations seeking visibility and convenient regional connectivity.
Key Highlights
- Freestanding 3‑unit office building with a two‑floor main suite
- Main office includes a waiting area with durable flooring
- Second floor features large windows and a full bathroom
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.3k | $20.04 |
| − Vacancy | −$7.6k | −$2.81 |
| EGI | $46.7k | $17.23 |
| − OpEx | −$11.7k | −$4.31 |
| NOI | $35.1k | $12.93 |
2,712 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$500.8K
$438.2K – $584.3K
NOI $35,055 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$645.1K
$564.5K – $752.6K
NOI $45,156 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
American Financial Network, ...
Loan Service
Schiappa Insurance Agency, ...
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Three-unit freestanding office building with two-floor main suite and strong signage visibility.
Where is this office units located?
The property is located at 1006 Reservoir Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Freestanding 3‑unit office building with a two‑floor main suite; Main office includes a waiting area with durable flooring; Second floor features large windows and a full bathroom
