Turnkey Restaurant Opportunity with Extra
For Sale
$749,000
146 Gansett Ave, Cranston, RI 02910
Turnkey restaurant with equipment, furniture, and extra lot included.
Property Size4,748 SF
Price / SF$157.75
Days on Market164
Property Features for 146 Gansett Ave
General Information
Standard status
Active
Size
4,748 SF
Building Details
Year Built
1962
Listing Agency:
Maxwell Realty
Listed By:
Olivia Ma
(401) 245-1099
Source:
Alpernandmesenbourg
Added: Apr 25
Changed: Sep 11
Last Checked: Oct 4 at 3:43PM
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 additional lot on Flint Avenue. The 2,802-square-foot building, which can accommodate up to 100 people, previously housed an established restaurant serving Asian cuisine with a liquor license for over 20 years. The layout includes an office, a private banquet/event room, a liquor bar, two restrooms, and a sushi bar. A full 1,948-square-foot basement provides storage space and includes one restroom. The property has parking spaces. The price includes all furniture and kitchen equipment. The location offers high visibility with busy traffic volume and is near the Cranston YMCA, recreational parks, schools, banks, and other commercial establishments. The property is suitable for immediate takeover to run a restaurant or can be revamped for various food service and restaurant concepts.
Key Highlights
- Turnkey restaurant opportunity with all furniture and kitchen equipment included.
- Includes a liquor license and sushi bar**.
- High‑visibility location with busy traffic volume near Cranston YMCA, parks, schools, and banks.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,509
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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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 Ave 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 a liquor license and sushi bar**.; High‑visibility location with busy traffic volume near Cranston YMCA, parks, schools, and banks.
