Prime Cranston Retail/Office
For Sale
Contact for pricing
1037 Reservoir Ave, Cranston, RI
High-visibility Cranston location suitable for medical, retail, or office use.
Property Size10,000 SF
Lot Size0.69 Acres
Price / SF$270
Days on Market358
Property Features for 1037 Reservoir Ave
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.69 Acres
Property subtype
OFFICE
Listing Agency:
Hayes & Sherry
(401) 273-1980
Listed By:
Matthew Fair
(401) 273-2053
Source:
Moodyscre
Added: Sep 19, 2025
Changed: Sep 2
Last Checked: Sep 10 at 9:18AM
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 Hayes & Sherry
Investment Insights
Based on property information with market context.
Located in the heart of Cranston’s Reservoir Avenue, the property at 1035–1039 Reservoir Avenue offers exceptional visibility and high traffic counts. The site is suitable for medical, retail, or professional office users seeking a prime, established location. It provides ample on-site parking and easy access to I-95 and Route 10. The property size is 10000 square feet and it is located in Cranston, RI.
Key Highlights
- Prime location in the heart of Cranston’s Reservoir Avenue.
- Exceptional visibility and high traffic counts.
- Ample on‑site parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$129,258
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,585,160
$2.6M
Cap Rate 7%
$1,846,543
$1.8M
Cap Rate 9%
$1,436,200
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
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.
Gross rent
$200.4K $20.04/SF
− Vacancy
−$28.1K −$2.81/SF
EGI
$172.3K $17.23/SF
− OpEx
−$43.1K −$4.31/SF
NOI
$129.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,585,160
Cap Rate 7%
$1,846,543
Cap Rate 9%
$1,436,200
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.15M
NOI $129,258 @ 7.0% cap · market cap 4.79%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,896 @ 7.0% cap · market cap 4.18%
Theoretical Best
Multifamily LT 5
$2.38M
$2.08M – $2.78M
NOI $166,505 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
948
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - High-visibility Cranston location suitable for medical, retail, or office use.
Where is this office building located?
The property is located at 1037 Reservoir Ave Cranston, RI.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Prime location in the heart of Cranston’s Reservoir Avenue.; Exceptional visibility and high traffic counts.; Ample on‑site parking.
