C-2 Zoned Three-Unit
For Sale
$779,000
822 Atwood Avenue, Cranston, RI 02920
Approved residential plans provide a spacious first-floor apartment and two upper-level units.
Property Size2,808 SF
Price / SF$277.42
Days on Market61
Property Features for 822 Atwood Avenue
General Information
Standard status
Active
Size
2,808 SF
Property subtype
MultiFamily
Zoning
C-2
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR
Multifamily Units
3
Building Details
Year Built
2026
Listing Agency:
ERA Empire Real Estate
(401) 217-4442
Listed By:
Jimmy Ranieri · License #REC.0016826
(401) 413-5620
Source:
Lockandkeyre
Added: Aug 14
Changed: Oct 13
Last Checked: Oct 12 at 8:23PM
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 ERA Empire Real Estate
Investment Insights
Based on property information with market context.
This triplex redevelopment includes approved plans for three residential units across two commercially zoned C-2 lots. The planned layout places a two-bedroom, one-bath apartment on the first floor, with two one-bedroom units on the second floor. The project is nearly complete and carries a 2026 year built designation.
Located at 822 Atwood Avenue in Cranston, Rhode Island, the property occupies a highly visible setting described as high traffic. Its C-2 zoning and approved residential configuration support the existing triplex plan while allowing the property to be considered for residential or mixed-use applications as supported by the source information.
Located at 822 Atwood Avenue in Cranston, Rhode Island, the property occupies a highly visible setting described as high traffic. Its C-2 zoning and approved residential configuration support the existing triplex plan while allowing the property to be considered for residential or mixed-use applications as supported by the source information.
Key Highlights
- Approved plans for 3 residential units
- First‑floor apartment with 2 bedrooms and 1 full bath
- Two second‑floor 1‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,755
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,100
$935.1K
Cap Rate 7%
$667,929
$667.9K
Cap Rate 9%
$519,500
$519.5K
Market Conditions
NOI Build-Up for 2,808 SF
Gross rent
$71.4K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.8K $23.79/SF
− OpEx
−$20.0K −$7.14/SF
NOI
$46.8K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,100
Cap Rate 7%
$667,929
Cap Rate 9%
$519,500
Alternative Uses
Best Use
Multifamily LT 5
$667.9K
$584.4K – $779.3K
NOI $46,755 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$530.1K
$463.8K – $618.4K
NOI $37,106 @ 7.0% cap · market cap 4.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
551
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Approved residential plans provide a spacious first-floor apartment and two upper-level units.
Where is this triplex located?
The property is located at 822 Atwood Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Approved plans for 3 residential units; First‑floor apartment with 2 bedrooms and 1 full bath; Two second‑floor 1‑bedroom units
