Flex Space with
New
For Sale
$775,000
1286 Cranston Street, Cranston, RI 02920
Adaptable commercial building combining customer-facing space, warehouse functionality, on-site parking, and a second-floor apartment.
Property Size4,464 SF
Days on Market4
Property Features for 1286 Cranston Street
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Retail
Zoning
C2
Amenities
storefront parking
apartment
Building Details
Building Size
4,464 SF
Year Built
1925
Buildings
1
Stories
2
Listing Agency:
MG Commercial
(401) 465-9224
Listed By:
Dan Feiner · License #RI # RES.0029089
(401) 465-9224
Source:
Mgcommercial
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 7:51PM
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 MG Commercial
Investment Insights
Based on property information with market context.
Built in 1925, this flex space combines a windowed showroom at the front with a rear work area designed for storage, assembly, and warehouse operations. The loading configuration includes an overhead door and a separate extra-wide delivery door, supporting a range of commercial functions within one building. Storefront parking and street-facing exposure add practical value for customer-oriented operations.
A 2 BR apartment occupies the second floor and offers a separate residential component. The property is located at 1286 Cranston Street in Cranston, Rhode Island, and carries C2 zoning. Its combination of showroom, service-oriented workspace, storage capacity, delivery access, and apartment space creates a varied commercial layout for an owner-user or operator seeking multiple functional areas.
A 2 BR apartment occupies the second floor and offers a separate residential component. The property is located at 1286 Cranston Street in Cranston, Rhode Island, and carries C2 zoning. Its combination of showroom, service-oriented workspace, storage capacity, delivery access, and apartment space creates a varied commercial layout for an owner-user or operator seeking multiple functional areas.
Key Highlights
- Window‑lined showroom at the front of the building
- Rear area configured for storage, assembly, and warehouse use
- Overhead door plus a separate extra‑wide delivery door
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
$50,397
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
6.50%
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%
$1,007,940
$1.0M
Cap Rate 7%
$719,957
$720.0K
Cap Rate 9%
$559,967
$560.0K
Market Conditions
NOI Build-Up for 4,464 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
$80.4K $18.00/SF
− Vacancy
−$8.4K −$1.87/SF
EGI
$72.0K $16.13/SF
− OpEx
−$21.6K −$4.84/SF
NOI
$50.4K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,007,940
Cap Rate 7%
$719,957
Cap Rate 9%
$559,967
Alternative Uses
Best Use
Retail
$720.0K
$630.0K – $840.0K
NOI $50,397 @ 7.0% cap · market cap 6.50%
Second Best
Warehouse
$404.1K
$353.6K – $471.5K
NOI $28,287 @ 7.0% cap · market cap 3.65%
Theoretical Best
Multifamily LT 5
$1.06M
$929.1K – $1.24M
NOI $74,328 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SIFU Catering — 24 Haven Ave, Cranston, RI 02920
- cagneys food service — 18 Harmon Ave, Cranston, RI 02910, United States
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building combining customer-facing space, warehouse functionality, on-site parking, and a second-floor apartment.
Where is this flex space located?
The property is located at 1286 Cranston Street Cranston, RI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Window‑lined showroom at the front of the building; Rear area configured for storage, assembly, and warehouse use; Overhead door plus a separate extra‑wide delivery door
