Two-Story Medical Office
1302 Elmwood Avenue Cranston, RI 02910
1302 Elmwood Avenue, Cranston, RI, 02910
$649,900
For Sale
$649,900
1988 B2-zoned office building with multiple renovated units, private entries, and parking for 7–8 vehicles.
Property Size3,588 SF
Price / SF$181.13
Days on Market36
Property Features for 1302 Elmwood Avenue
General Information
- Standard status
- Active
- Size
- 3,588 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1988
Listing Agency
Pyramid Realty Inc
(401) 864-5505
Listed by
Martha Habib
(401) 864-5505
Source
Xome
Added: Jun 13 Checked: Jul 17 at 2:16 am
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 Pyramid Realty Inc
Investment Insights
Based on property information with market context.
Built in 1988, this B2-zoned office building is currently configured with a first-floor medical office and additional renovated space below and on the second level. The first floor includes a reception and waiting area, six office rooms, and a large tiled bathroom, with wheelchair accessibility via a rear ramp. The second floor has a renovated layout with three to four rooms, a full kitchen, laminate flooring, high ceilings, and multiple windows for natural light. The lower level features an open area with two private rooms, a bath, and an oversized renovated kitchen. The interior has been professionally painted, with newer windows, central heating and cooling, and an updated hard-wired fire system. Each unit is served by two private entry ways.
Located at 1302 Elmwood Avenue in Cranston, the property is described as having high visibility near a major hub of Park Avenue, with ample on-site parking accommodating 7–8 vehicles.
The mix of private entries and separate room configurations makes the building suitable for professional uses such as medical/dental office, accounting, advertising, and salon/cosmetics, while the kitchen spaces and multi-room layouts can support a range of day-to-day operational needs.
Located at 1302 Elmwood Avenue in Cranston, the property is described as having high visibility near a major hub of Park Avenue, with ample on-site parking accommodating 7–8 vehicles.
The mix of private entries and separate room configurations makes the building suitable for professional uses such as medical/dental office, accounting, advertising, and salon/cosmetics, while the kitchen spaces and multi-room layouts can support a range of day-to-day operational needs.
Key Highlights
- 1988 B2‑zoned office building with multiple renovated units and separate private entrances
- First‑floor medical office layout with reception/waiting area, 6 office rooms, and large tiled bathroom (wheelchair accessibility and rear ramp)
- Second‑floor renovated unit with 3–4 rooms, full kitchen, laminate flooring, high ceilings, and large windows for natural light
Local Financial Insights For Office B
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 | $71.9k | $20.04 |
| − Vacancy | −$10.1k | −$2.81 |
| EGI | $61.8k | $17.23 |
| − OpEx | −$15.5k | −$4.31 |
| NOI | $46.4k | $12.93 |
3,588 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$662.5K
$579.7K – $773.0K
NOI $46,378 @ 7.0% cap · market cap 7.14%
Second Best
Healthcare Medical
$496.7K
$434.6K – $579.5K
NOI $34,767 @ 7.0% cap · market cap 5.35%
Theoretical Best
Multifamily LT 5
$853.5K
$746.8K – $995.7K
NOI $59,742 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - 1988 B2-zoned office building with multiple renovated units, private entries, and parking for 7–8 vehicles.
Where is this medical office space located?
The property is located at 1302 Elmwood Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 1988 B2‑zoned office building with multiple renovated units and separate private entrances; First‑floor medical office layout with reception/waiting area, 6 office rooms, and large tiled bathroom (wheelchair accessibility and rear ramp); Second‑floor renovated unit with 3–4 rooms, full kitchen, laminate flooring, high ceilings, and large windows for natural light
