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    1380 Plainfield St Cranston, RI 02920

    For Sale
    $1,300,000

    High-yield, 12-bedroom multi-family & commercial complex.

    Property size:
    6,780 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional investment opportunity in Cranston, RI, presents a mixed-use property comprising two buildings on a 0.14-acre lot at 1380 Plainfield Street. The residential building boasts twelve bedrooms and six bathrooms, each unit equipped with its own gas meter, electric meter, heating system, and water heater. Amenities include on-site parking, a full basement, and three outdoor decks. Both roofs were replaced less than five years ago. The commercial building features two separately metered units currently leased to a mattress store and a tattoo parlor, each with its own heating system. Both the residential and commercial buildings have full basements. Currently, all rental rates are below market value, presenting a significant opportunity for increased income. One residential unit is vacant and readily rentable. The property is conveniently located on the corner of Plainfield Street and Clemence Street, a high-demand rental area near public transportation, shopping, and schools, situated on the Cranston West/Johnston line. This property is ideally suited for a 1031 exchange, and owner financing may be available to qualified buyers. The total square footage is 6,780. Serious inquiries only. Notice is required for showings of occupied units.

    Property Features for 1380 Plainfield St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,780 SF
    Lot Size
    6,098 SF

    Building Details

    Year Built
    1912
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ambition Tattoo Studio Tattoo Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness 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
    -71.48172
    Latitude
    41.79623

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield, 12-bedroom multi-family & commercial complex.
    Where is this commercial real estate located?
    The property is located at 1380 Plainfield St Cranston, RI.
    What is the asking price?
    The asking price for this property is $1,300,000.
    (401) 331-3948
    Request Owner's contact information
    1380 Plainfield St Cranston, RI 02920
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    Cranston, RI 02920
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    Realmo Value Estimation

    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.

    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.

    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
    1380 Plainfield St Cranston, RI 02920
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