Versatile Commercial Property For
For Sale
$899,000
150 Burnside, Cranston, RI 02910
Turnkey commercial property with strong income potential in unbeatable location.
Property Size5,994 SF
Lot Size0.34 Acres
Price / SF$149.98
Days on Market255
Property Features for 150 Burnside
General Information
Standard status
Active
Size
5,994 SF
Lot size
0.34 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,110
Amenities
Central air
Central Air Cooling
Central Heating
Building Details
Year Built
1977
Listing Agency:
FAMILY FIRST REALTY RI, LLC
(401) 385-3630
Listed By:
VICKIE PIZZARELLI
Source:
Corcoran
Added: Dec 2, 2025
Changed: Aug 14
Last Checked: Jul 12 at 7:26AM
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 FAMILY FIRST REALTY RI, LLC
Investment Insights
Based on property information with market context.
This commercial property offers flexibility for various uses. Currently configured as professional office space, the building features 3 separate units, each with its own private entrance, but can be combined for a larger operation. The property has been updated with attention to detail. An oversized heated 2-car garage provides additional rental value and is suitable for contractors, specialty trades, storage, or supplemental commercial use. The updates minimize near-term capital expenditures. Located on a corner lot just off Reservoir Avenue, the site benefits from strong traffic counts, ample parking, and accessibility to Rt 95, Rt 10, and Rt 6, with Providence nearby. The zoning allows for professional offices, medical suites, salon studios, creative workspaces, daycare, a church, or conversion to multi-unit residential. The existing businesses are relocating, and only the real estate is for sale. The property size is 5994 square feet.
Key Highlights
- Prime location with exceptional accessibility to Rt 95, Rt 10, and Rt 6, minutes from Providence.
- Turnkey condition with extensive updates.
- Flexible zoning allows for various uses.
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
$77,477
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
8.62%
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%
$1,549,540
$1.5M
Cap Rate 7%
$1,106,814
$1.1M
Cap Rate 9%
$860,856
$860.9K
Market Conditions
NOI Build-Up for 5,994 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
$120.1K $20.04/SF
− Vacancy
−$16.8K −$2.81/SF
EGI
$103.3K $17.23/SF
− OpEx
−$25.8K −$4.31/SF
NOI
$77.5K $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 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%
$1,549,540
Cap Rate 7%
$1,106,814
Cap Rate 9%
$860,856
Alternative Uses
Best Use
Office B
$1.11M
$968.5K – $1.29M
NOI $77,477 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.43M
$1.25M – $1.66M
NOI $99,803 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,310
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey commercial property with strong income potential in unbeatable location.
Where is this office units located?
The property is located at 150 Burnside Cranston, RI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime location with exceptional accessibility to Rt 95, Rt 10, and Rt 6, minutes from Providence.; Turnkey condition with extensive updates.; Flexible zoning allows for various uses.
