Cranston Commercial Building For
761 Park Avenue, Cranston, RI 02910
For Sale
Contact for pricing
2732 sq ft commercial building in high-traffic Cranston location.
Property Size2,732 SF
Price / SF$204.94
Days on Market886
Property Features for 761 Park Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Building Details
Year Built
Buildings
Stories
Units
Listing Agency:
Green Island Realty, Inc.
Listed By:
Feng Lei · License RI REC.0016670
(401) 461-2063
Source:
Crexi
Added: Jun 8, 2024
Changed: Aug 8
Last Checked: Aug 25 at 3:56AM
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 Green Island Realty, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This one-level, 2732 square feet building is located on a high-traffic street in Cranston, approximately 10 minutes from downtown Providence. Zoned C1, the building was formerly used as a medical office and a beauty salon. The layout includes 8 rooms, a reception room, and a large waiting room. Recent upgrades include fire code compliance and new interior paint. Off-street parking is available. The building is suitable for various business uses.
Key Highlights
- High‑traffic location in Cranston
- Zoned C1, suitable for various commercial uses
- 2700 square feet of space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,313
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$706,260
$706.3K
Cap Rate 7%
$504,471
$504.5K
Cap Rate 9%
$392,367
$392.4K
Market Conditions
NOI Build-Up for 2,732 SF
Gross rent
$54.7K $20.04/SF
− Vacancy
−$7.7K −$2.81/SF
EGI
$47.1K $17.23/SF
− OpEx
−$11.8K −$4.31/SF
NOI
$35.3K $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 Rate 5%
$706,260
Cap Rate 7%
$504,471
Cap Rate 9%
$392,367
Alternative Uses
Best Use
Office B
$504.5K
$441.4K – $588.6K
NOI $35,313 @ 7.0% cap · market cap 6.31%
Second Best
Healthcare Medical
$378.2K
$330.9K – $441.2K
NOI $26,472 @ 7.0% cap · market cap 4.73%
Theoretical Best
Multifamily LT 5
$649.8K
$568.6K – $758.2K
NOI $45,489 @ 7.0% cap · market cap 8.12%
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
1,101
Businesses Nearby
Under-served
Demand for This Use
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
$302,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Medical Office Space in Providence County, RI
Properties on Market for Medical Office Space in Providence County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - 2732 sq ft commercial building in high-traffic Cranston location.
Where is this medical office space located?
The property is located at 761 Park Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: High‑traffic location in Cranston; Zoned C1, suitable for various commercial uses; 2700 square feet of space
