Freestanding Office
For Sale
$499,900
1006 Reservoir Ave, Cranston, RI 02910
Freestanding office property with a two-level main suite, waiting area, signage, and a vacant upper floor.
Property Size2,712 SF
Price / SF$184.33
Days on Market58
Property Features for 1006 Reservoir Ave
General Information
Standard status
Active
Size
2,712 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Office Units
3
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Real Broker, LLC
Listed By:
Alea French
(855) 450-0442
Source:
Alpernandmesenbourg
Added: Aug 10
Changed: Oct 4
Last Checked: Oct 6 at 12:58AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This freestanding office property contains three units and 2,712 SF of building area. The primary office occupies two floors and includes a waiting area finished with durable flooring. A vacant second-floor space offers large windows and a full bathroom, providing additional office configuration within the building. Constructed in 1930, the property also includes exterior signage and sits on a highly visible lot.
The property is located at 1006 Reservoir Ave in Cranston, with access to Providence, Rhode Island Airport, rail service, interstates, and Garden City. Its central setting and substantial daily vehicle activity support prominent exposure for office users.
The property is located at 1006 Reservoir Ave in Cranston, with access to Providence, Rhode Island Airport, rail service, interstates, and Garden City. Its central setting and substantial daily vehicle activity support prominent exposure for office users.
Key Highlights
- Three‑unit freestanding office building with 2,712 SF
- Main office configuration spans two floors
- Vacant upper‑level space with large windows and a full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,055
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,100
$701.1K
Cap Rate 7%
$500,786
$500.8K
Cap Rate 9%
$389,500
$389.5K
Market Conditions
NOI Build-Up for 2,712 SF
Gross rent
$54.3K $20.04/SF
− Vacancy
−$7.6K −$2.81/SF
EGI
$46.7K $17.23/SF
− OpEx
−$11.7K −$4.31/SF
NOI
$35.1K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,100
Cap Rate 7%
$500,786
Cap Rate 9%
$389,500
Alternative Uses
Best Use
Office B
$500.8K
$438.2K – $584.3K
NOI $35,055 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$645.1K
$564.5K – $752.6K
NOI $45,156 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 02910, RI
21,907
Population
9,319
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
90%
High-School Grad
3.4 sq mi
ZIP Area
6,443
Density / Sq Mi
$85,909
Median Household Income
$47,538
Median Earnings
$1,385
Median Rent
$302,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Freestanding office property with a two-level main suite, waiting area, signage, and a vacant upper floor.
Where is this office building located?
The property is located at 1006 Reservoir Ave Cranston, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit freestanding office building with 2,712 SF; Main office configuration spans two floors; Vacant upper‑level space with large windows and a full bathroom
