Townhouse-Style Mixed-Use
1289 Cranston Street Cranston, RI 02920
For Sale
$679,000
MULTI_FAMILY - Cranston, RI
Property Size3,162 SF
Lot Size0.08 Acres
Price / SF$214.74
Days on Market9
Property Features for 1289 Cranston Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 3, Basement, Bedroom 1, Bathroom 1
- Parking
- 4
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 3,162 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4281
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Laminate, Hardwood, Vinyl
- Building materials
- Aluminum Siding, Brick
Listing Agency:
William Raveis Inspire
(401) 751-8100
Listed By:
Jessica Perez
(401) 692-8183
Added: Jul 15
Changed: Jul 23
Last Checked: Jul 23 at 8:06PM
MLS# 1418736
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 well-maintained mixed-use property includes commercial space with a townhouse-style residence above. The residential unit offers an open kitchen, large living and dining areas, three bedrooms, 1.5 baths, and a dedicated laundry room.
Additional property features highlighted in the listing include fully owned solar panels and two Navien heating and hot water systems. There is also a detached two-car garage, with potential for additional uses subject to buyer due diligence.
The property is described as having convenient access to major highways and nearby shopping and local amenities, and it is located on a bus line. The listing notes the property qualifies for owner-occupied FHA financing.
Additional property features highlighted in the listing include fully owned solar panels and two Navien heating and hot water systems. There is also a detached two-car garage, with potential for additional uses subject to buyer due diligence.
The property is described as having convenient access to major highways and nearby shopping and local amenities, and it is located on a bus line. The listing notes the property qualifies for owner-occupied FHA financing.
Key Highlights
- Mixed‑use property with commercial space plus a townhouse‑style residence above
- Residential unit features an open kitchen, large living and dining areas, 3 bedrooms, and 1.5 baths with a dedicated laundry room
- Fully owned solar panels plus two Navien heating and hot water systems
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.4k | $21.00 |
| − Vacancy | −$6.6k | −$2.10 |
| EGI | $59.8k | $18.90 |
| − OpEx | −$22.4k | −$7.09 |
| NOI | $37.4k | $11.81 |
3,162 SF · lease $21.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$533.6K
$466.9K – $622.5K
NOI $37,351 @ 7.0% cap · market cap 5.50%
Second Best
Retail
$510.0K
$446.2K – $595.0K
NOI $35,698 @ 7.0% cap · market cap 5.26%
Theoretical Best
Multifamily LT 5
$752.1K
$658.1K – $877.5K
NOI $52,649 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Empire Staffing Inc.
Employment Agency
ATM Express
Atm
FAQs
What type of property is this?
Mixed-use property - Well-maintained mixed-use building with retail space and a townhouse-style residence featuring 3 bedrooms and 1.5 baths.
Where is this mixed-use property located?
The property is located at 1289 Cranston Street Cranston, RI.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Mixed‑use property with commercial space plus a townhouse‑style residence above; Residential unit features an open kitchen, large living and dining areas, 3 bedrooms, and 1.5 baths with a dedicated laundry room; Fully owned solar panels plus two Navien heating and hot water systems
