Professional Office
For Sale
$185,000
1119 Reservoir Avenue, Cranston, RI 02910
Commercial/Business,Commercial Sale, Cranston, RI
Property Size784 SF
Lot Size0.28 Acres
Price / SF$235.97
Days on Market34
Property Features for 1119 Reservoir Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Security features
Security
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Reservoir Avenue
Lot features
Suburban
Standard status
Active
Size
784 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3421
HOA Fee
$300 Monthly
Utilities
Heating system
Forced Air
Building Details
Year built
1988
Floors in Building
1
Number of units
1
Building materials
Brick, Frame
Listing Agency:
Albert Realty Inc., Realtors
(401) 944-3377
Listed By:
Scaralia Group
(401) 464-6464
Added: Jul 20
Changed: Jul 31
Last Checked: Aug 22 at 5:06AM
MLS# 1418217
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 784-square-foot office condominium is arranged with three private offices, an administration and waiting area, and a private bathroom. The building contains four suites and was constructed in 1988 with brick and frame materials. Interior features include 7- to 9-foot ceiling height and forced-air heating.
The property is located on Reservoir Avenue in Cranston, just outside Garden City Center. Its position provides access to major highways and nearby amenities. Zoned C-1, the suite is offered for immediate occupancy.
The property is located on Reservoir Avenue in Cranston, just outside Garden City Center. Its position provides access to major highways and nearby amenities. Zoned C-1, the suite is offered for immediate occupancy.
Key Highlights
- 784 SF office condominium
- Three private offices plus administration and waiting area
- Private bathroom included
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
$10,134
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
5.48%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
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
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Compact office condominium with private rooms, reception space, and immediate occupancy near Garden City Center.
Where is this office units located?
The property is located at 1119 Reservoir Avenue 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: 784 SF office condominium; Three private offices plus administration and waiting area; Private bathroom included
