Mixed-Use Live-Work Property with
1289 Cranston Street, Cranston, RI 02920
MULTI_FAMILY - Cranston, RI
Type:Apartment
Property size:
4,336 SFLot size:
0.08 AcresPrice / SF:
$156/SF- Added:
- May 17, 2026
- Days on Market:
- 25
- Last Refresh:
- Jun 10 at 2:06 pm
Property Features for 1289 Cranston Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
- Parking
- 4
- Basement
- Full, Unfinished
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 4,336 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4281
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Laminate, Hardwood
- Building materials
- Vinyl Siding
Listing agent Jessica Perez (401) 207-3329
Listing office William Raveis Inspire 201 Wayland Avenue, #8, Providence, RI (401) 751-8100
Listing date May 17, 2026
MLS# 1412867
Listing URL
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.
HighLights
- Mixed‑use property with commercial space plus a townhouse‑style residence above, offering separate living and business options
- Townhouse residence layout includes an open kitchen, large living and dining areas, 3 bedrooms, 1.5 baths, and a dedicated laundry room
- Two Navien heating and hot water systems and a gas water heater provide domestic hot water and space heating
- Fully owned solar panels
- Detached 2‑car garage with potential for ADU use (buyer to conduct due diligence)
- Utilities/services include public sewer; heating is natural gas with baseboard; exterior features vinyl siding (year built: 1900)
Overview
This well-maintained mixed-use property combines commercial space with a townhouse-style residence above. The residential unit features an open kitchen and large living and dining areas, along with three bedrooms, 1.5 baths, and a dedicated laundry room. Additional improvements include fully owned solar panels, two Navien heating and hot water systems, and a detached two-car garage with potential for a variety of uses, including possible ADU potential subject to buyer due diligence.
Located at 1289 Cranston Street in Cranston, RI, the property is described as highly visible and conveniently positioned. It offers access via the bus line and has easy access to major highways, as well as shopping and local amenities.
Designed for flexibility, the building can work well for owner-occupants who want to operate a business while living above, or for investors seeking a mixed-use structure with both commercial and residential components. The listing also notes eligibility for owner-occupied FHA financing, which may be a useful option for qualified buyers. Prospective purchasers should confirm all intended garage or accessory use details during due diligence.
Located at 1289 Cranston Street in Cranston, RI, the property is described as highly visible and conveniently positioned. It offers access via the bus line and has easy access to major highways, as well as shopping and local amenities.
Designed for flexibility, the building can work well for owner-occupants who want to operate a business while living above, or for investors seeking a mixed-use structure with both commercial and residential components. The listing also notes eligibility for owner-occupied FHA financing, which may be a useful option for qualified buyers. Prospective purchasers should confirm all intended garage or accessory use details during due diligence.
Local Financial Insights For Apartment 5plus
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 | $110.8k | $25.56 |
| − Vacancy | −$6.6k | −$1.53 |
| EGI | $104.2k | $24.03 |
| − OpEx | −$46.9k | −$10.81 |
| NOI | $57.3k | $13.21 |
4,336 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$818.5K
$716.2K – $955.0K
NOI $57,298 @ 7.0% cap · market cap 8.44%
Second Best
Office B
$800.7K
$700.6K – $934.1K
NOI $56,046 @ 7.0% cap · market cap 8.25%
Theoretical Best
Multifamily LT 5
$1.03M
$902.5K – $1.20M
NOI $72,196 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Empire Staffing Inc.
Employment Agency
ATM Express
Atm
Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.453123
- Latitude
- 41.791042
Nearby Similar for Sale
FAQs
What type of property is this?
Live-work space - Own a mixed-use building with commercial space below and a 3-bedroom townhouse residence above.
Where is this live-work space 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, offering separate living and business options; Townhouse residence layout includes an open kitchen, large living and dining areas, 3 bedrooms, 1.5 baths, and a dedicated laundry room; Two Navien heating and hot water systems and a gas water heater provide domestic hot water and space heating
