Turnkey Restaurant with Extra
For Sale
$749,000
146 Gansett, Cranston, RI 02910
Turnkey restaurant with equipment, furniture, and extra lot included.
Property Size4,748 SF
Price / SF$157.75
Days on Market304
Property Features for 146 Gansett
General Information
Standard status
Active
Size
4,748 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,386
Amenities
Central air
Central Air Cooling
Central Heating
Circuit Breakers
Gas Heating
Building Details
Year Built
1962
Listing Agency:
MAXWELL REALTY
(401) 454-9050
Listed By:
OLIVIA MA
Source:
Corcoran
Added: Oct 10, 2025
Changed: Aug 8
Last Checked: Jul 16 at 12:04PM
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 MAXWELL REALTY
Investment Insights
Based on property information with market context.
This is a freestanding, turnkey restaurant or food service building with an extra lot on Flint Avenue. The property was previously occupied by an established restaurant serving Asian cuisine with a liquor license for over 20 years. The building is 2802 square feet and can accommodate up to 100 people. It includes an office, a private banquet/event room, a liquor bar, two restrooms, and a sushi bar. The full basement provides 1948 square feet of storage space and includes one restroom. The price includes all furniture and kitchen equipment. The location offers high visibility with busy traffic volume and is close to the Cranston YMCA, recreational parks, schools, banks, and other commercial establishments. The property is suitable for running a restaurant or revamping it for any type of food service. There are plenty of parking spaces available.
Key Highlights
- Turnkey restaurant opportunity with all furniture and kitchen equipment included.
- Includes liquor license and sushi bar.
- High‑visibility location with busy traffic volume, close to amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,509
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,150,180
$1.2M
Cap Rate 7%
$821,557
$821.6K
Cap Rate 9%
$638,989
$639.0K
Market Conditions
NOI Build-Up for 4,748 SF
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.
Gross rent
$85.5K $18.00/SF
− Vacancy
−$8.8K −$1.85/SF
EGI
$76.7K $16.15/SF
− OpEx
−$19.2K −$4.04/SF
NOI
$57.5K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,150,180
Cap Rate 7%
$821,557
Cap Rate 9%
$638,989
Alternative Uses
Best Use
Specialty Retail
$821.6K
$718.9K – $958.5K
NOI $57,509 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.13M
$988.2K – $1.32M
NOI $79,056 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 47%
Dunkin' Donuts
Dining
9,604 visits/mo
0.4 miles
Dollar General
Shops & Services
8,616 visits/mo
0.3 miles
Domino's Pizza
Dining
5,185 visits/mo
0.5 miles
AutoZone
Shops & Services
5,053 visits/mo
0.4 miles
Honey Dew Donuts
Dining
4,309 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant with equipment, furniture, and extra lot included.
Where is this conventional restaurant located?
The property is located at 146 Gansett Cranston, RI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity with all furniture and kitchen equipment included.; Includes liquor license and sushi bar.; High‑visibility location with busy traffic volume, close to amenities.
