Professional Office Suite
1119 Reservoir Avenue #B, Cranston, RI 02910
For Sale
$185,000
Office suite condominium with three private offices, an admin/waiting area, and a private bath in a four-suite building.
Property Size784 SF
Price / SF$235.97
Days on Market118
Property Features for 1119 Reservoir Avenue #B
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
Albert Realty Inc., REALTORS
(401) 944-3377
Listed By:
Scaralia Group
(401) 464-6464
Source:
Lockandkeyre
Added: Jul 20
Changed: Nov 12
Last Checked: Nov 12 at 8:00AM
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 Albert Realty Inc., REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This professional office suite condominium is located in an intimate building with only four suites. The space includes three private offices, an administration or waiting area, and a private bath, providing a straightforward layout for professional use.
The property is described as offering high traffic count and strong visibility, positioned just outside Garden City Center. The location also provides convenient access to major highways and nearby amenities.
Immediate occupancy is available, and the suite is noted as easy to show.
The property is described as offering high traffic count and strong visibility, positioned just outside Garden City Center. The location also provides convenient access to major highways and nearby amenities.
Immediate occupancy is available, and the suite is noted as easy to show.
Key Highlights
- Office suite condominium built in 1988
- Suite includes three private offices, an administration/waiting area, and a private bath
- Located in a four‑suite professional office building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,134
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,680
$202.7K
Cap Rate 7%
$144,771
$144.8K
Cap Rate 9%
$112,600
$112.6K
Market Conditions
NOI Build-Up for 784 SF
Gross rent
$15.7K $20.04/SF
− Vacancy
−$2.2K −$2.81/SF
EGI
$13.5K $17.23/SF
− OpEx
−$3.4K −$4.31/SF
NOI
$10.1K $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%
$202,680
Cap Rate 7%
$144,771
Cap Rate 9%
$112,600
Alternative Uses
Best Use
Office B
$144.8K
$126.7K – $168.9K
NOI $10,134 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$186.5K
$163.2K – $217.6K
NOI $13,054 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
815
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
$302,400
Median Home Value
Market
Average Price Trend$/SF for Office Units in Cranston, RI
Properties on Market for Office Units in Cranston
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office suite condominium with three private offices, an admin/waiting area, and a private bath in a four-suite building.
Where is this office unit located?
The property is located at 1119 Reservoir Avenue #B Cranston, RI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Office suite condominium built in 1988; Suite includes three private offices, an administration/waiting area, and a private bath; Located in a four‑suite professional office building
