Mixed-Use Property with
For Sale
$659,000
1289 Cranston St, Cranston, RI 02920
Commercial space is paired with an upper-level townhouse-style residence and a detached garage.
Property Size3,162 SF
Price / SF$208.41
Days on Market88
Property Features for 1289 Cranston St
General Information
Standard status
Active
Size
3,162 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1.5BA
Multifamily Units
1
Building Details
Year Built
1900
Listing Agency:
William Raveis Inspire
Listed By:
Jessica Perez
(401) 751-8100
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Oct 5
Last Checked: Oct 7 at 4:39PM
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 William Raveis Inspire
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space with a townhouse-style residence positioned above. The residential layout includes an open kitchen, large living and dining areas, 3 bedrooms, 1.5 baths, and a dedicated laundry room. Building systems include fully owned solar panels and two Navien heating and hot water systems. A detached two-car garage adds separate utility, with possible ADU potential subject to buyer due diligence.
Located at 1289 Cranston Street in Cranston, RI, the property is on the bus line and offers access to major highways, shopping, and local amenities. The property was built in 1900 and qualifies for owner-occupied FHA financing.
Located at 1289 Cranston Street in Cranston, RI, the property is on the bus line and offers access to major highways, shopping, and local amenities. The property was built in 1900 and qualifies for owner-occupied FHA financing.
Key Highlights
- Mixed‑use property with commercial space and a townhouse‑style residence above
- Residential unit includes 3 bedrooms, 1.5 baths, open kitchen, and dedicated laundry room
- Fully owned solar panels and two Navien heating and hot water systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,351
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,020
$747.0K
Cap Rate 7%
$533,586
$533.6K
Cap Rate 9%
$415,011
$415.0K
Market Conditions
NOI Build-Up for 3,162 SF
Gross rent
$66.4K $21.00/SF
− Vacancy
−$6.6K −$2.10/SF
EGI
$59.8K $18.90/SF
− OpEx
−$22.4K −$7.09/SF
NOI
$37.4K $11.81/SF
Area
Providence County, RI
Vacancy
10.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,020
Cap Rate 7%
$533,586
Cap Rate 9%
$415,011
Alternative Uses
Best Use
Mixed Use
$533.6K
$466.9K – $622.5K
NOI $37,351 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$752.1K
$658.1K – $877.5K
NOI $52,649 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with an upper-level townhouse-style residence and a detached garage.
Where is this mixed-use property located?
The property is located at 1289 Cranston St Cranston, RI.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Mixed‑use property with commercial space and a townhouse‑style residence above; Residential unit includes 3 bedrooms, 1.5 baths, open kitchen, and dedicated laundry room; Fully owned solar panels and two Navien heating and hot water systems
