Cranston Industrial Building For
For Sale
Contact for pricing
15 Industrial Rd, Cranston, RI
26,494 SF fully leased industrial building with upside potential.
Property Size26,494 SF
Lot Size0.94 Acres
Price / SF$63.79
Days on Market397
Property Features for 15 Industrial Rd
General Information
Standard status
Active
Size
26,494 SF
Lot size
0.94 Acres
Property subtype
INDUSTRIAL
Listing Agency:
MG Commercial
(401) 374-7038
Listed By:
George Paskalis, SIOR · License ##0040525
(401) 374-7038
Source:
Moodyscre
Added: Jul 7, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:53AM
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 MG Commercial
Investment Insights
Based on property information with market context.
The property at 15 Industrial Road, Cranston, Rhode Island, is a 26,494 square foot manufacturing building, including approximately 3,000 square feet of office space, situated on 2.6 acres. The fully air-conditioned facility is subdivided and occupied by two tenants: a furniture manufacturer occupying 8,000 square feet, and a cannabis cultivator occupying 18,464 square feet. The building is fully sprinklered and includes two docks, 3-phase power, and parking space for up to 30 vehicles. The real estate taxes are $34,305 annually. The property presents significant future upside.
Key Highlights
- 26,494 SF Fully Leased Industrial Building
- 100% Air‑Conditioned Facility
- Seller Financing Available
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
$138,259
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
8.18%
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%
$2,765,180
$2.8M
Cap Rate 7%
$1,975,129
$2.0M
Cap Rate 9%
$1,536,211
$1.5M
Market Conditions
NOI Build-Up for 26,494 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
$198.7K $7.50/SF
− Vacancy
−$1.2K −$0.05/SF
EGI
$197.5K $7.46/SF
− OpEx
−$59.3K −$2.24/SF
NOI
$138.3K $5.22/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
30.00%
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%
$2,765,180
Cap Rate 7%
$1,975,129
Cap Rate 9%
$1,536,211
Alternative Uses
Best Use
Industrial
$1.98M
$1.73M – $2.30M
NOI $138,259 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.30M
$5.51M – $7.35M
NOI $441,138 @ 7.0% cap · market cap 26.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 26,494 SF fully leased industrial building with upside potential.
Where is this manufacturing property located?
The property is located at 15 Industrial Rd Cranston, RI.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 26,494 SF Fully Leased Industrial Building; 100% Air‑Conditioned Facility; Seller Financing Available
