Cranston Industrial Building For
For Sale
$1,690,000
15 Industrial Road, Cranston, RI 02920
26,494 SF fully leased industrial building with upside potential.
Property Size26,494 SF
Days on Market348
Property Features for 15 Industrial Road
General Information
Standard status
Active
Size
26,494 SF
Property subtype
Industrial
Building Details
Building Size
26,494 SF
Year Built
1969
Listing Agency:
MG Commercial
Listed By:
George Paskalis, SIOR · License #RI #0040525
(401) 374-7038
Source:
Mgcommercial
Added: Nov 24, 2025
Changed: Oct 26
Last Checked: Nov 6 at 7:07AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$138,259
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
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 Industrial in Northeast region
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 Road 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
