Mixed-Use Building with Detached
For Sale
$659,000
1289 Cranston Street, Cranston, RI 02920
Residential Income, Cranston, RI
Property Size3,162 SF
Lot Size0.08 Acres
Price / SF$208.41
Days on Market104
Property Features for 1289 Cranston Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking
4
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
3,162 SF
Lot size
0.08 Acres
Additional Details
Mixed-Use Components
commercial, residential
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4281
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Amenities
fully owned solar panels
two Navien heating and hot water systems
detached two-car garage
dedicated laundry room
Building Details
Year built
1900
Number of units
2
Flooring type
Hardwood, Vinyl, Laminate
Building materials
Aluminum Siding, Brick
Buildings
2
Listing Agency:
William Raveis Inspire
(401) 751-8100
Listed By:
Jessica Perez
(401) 692-8183
Added: Jul 15
Changed: Oct 23
Last Checked: Oct 26 at 8:06AM
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.
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Investment Insights
Based on property information with market context.
Located at 1289 Cranston Street in Cranston, this mixed-use property contains 3,162 square feet on a 0.08-acre lot. The commercial component is combined with a townhouse-style residence featuring three bedrooms, 1.5 baths, an open kitchen, living and dining areas, and dedicated laundry space. Hardwood, laminate, and vinyl flooring are present, with natural-gas baseboard heating and two Navien heating and hot water systems.
The property includes fully owned solar panels, public sewer service, and a detached two-car garage. It is situated on the bus line with access to major highways, shopping, and local amenities. The property qualifies for owner-occupied FHA financing, subject to applicable requirements.
The property includes fully owned solar panels, public sewer service, and a detached two-car garage. It is situated on the bus line with access to major highways, shopping, and local amenities. The property qualifies for owner-occupied FHA financing, subject to applicable requirements.
Key Highlights
- 3,162‑square‑foot mixed‑use property on a 0.08‑acre lot
- Townhouse‑style residence with 3 bedrooms and 1.5 baths
- Commercial component paired with residential living space
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
Retail
$510.0K
$446.2K – $595.0K
NOI $35,698 @ 7.0% cap · market cap 5.42%
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.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 69%
Dining 21%
Shops & Services 10%
Burlington
Apparel
45,165 visits/mo
0.5 miles
Taco Bell
Dining
13,414 visits/mo
0.4 miles
Dollar General
Shops & Services
6,666 visits/mo
0.5 miles
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with a three-bedroom townhouse-style residence and separate vehicle storage.
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 $659,000.
What are key features of this property?
This property features: 3,162‑square‑foot mixed‑use property on a 0.08‑acre lot; Townhouse‑style residence with 3 bedrooms and 1.5 baths; Commercial component paired with residential living space
