Updated Three-Unit Office
For Sale
$899,000
150 Burnside Street, Cranston, RI 02910
Commercial/Business,Commercial Sale, Cranston, RI
Property Size5,994 SF
Lot Size0.34 Acres
Price / SF$149.98
Days on Market263
Property Features for 150 Burnside Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1
Rooms
Basement
Parking
22
Security features
Security Lighting
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Subdivision
Reservoir Ave
Lot features
Sidewalks, Free Standing, Urban
Standard status
Active
Size
5,994 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10110
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1977
Floors in Building
3
Number of units
1
Building materials
Frame, Masonry
Listing Agency:
Family First Realty Ri, Llc
(401) 385-3630
Listed By:
Vickie Pizzarelli
(401) 432-4129
Added: Dec 1, 2025
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 1401034
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,994-square-foot office property is arranged as three separate units, each with a private entrance, while the layout can also support a combined operation. The building includes a basement and an oversized heated two-car garage, adding functional storage or auxiliary commercial space. Central heating and central air serve the property, which was built in 1977 and has undergone extensive updating. Frame and masonry construction, a 9- to 12-foot ceiling range, and public water service complete the core physical profile.
Positioned on a 0.34-acre corner lot at 150 Burnside Street, the property is just off Reservoir Avenue with access to I-95, Route 10, and Route 6. B-1 zoning and on-site parking support its current office configuration and provide flexibility for future commercial occupancy.
Positioned on a 0.34-acre corner lot at 150 Burnside Street, the property is just off Reservoir Avenue with access to I-95, Route 10, and Route 6. B-1 zoning and on-site parking support its current office configuration and provide flexibility for future commercial occupancy.
Key Highlights
- Three separate office units with private entrances
- 5,994 square feet on a 0.34‑acre corner lot
- Oversized heated two‑car garage
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
Flex RnD
$529.4K
$463.2K – $617.7K
NOI $37,059 @ 7.0% cap · market cap 4.12%
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
Lease Details
3
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,300
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 - Flexible professional office property with private entrances, an oversized heated garage, and B-1 zoning.
Where is this office units located?
The property is located at 150 Burnside Street 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: Three separate office units with private entrances; 5,994 square feet on a 0.34‑acre corner lot; Oversized heated two‑car garage
