Operating Grocery Retail
834 Park Avenue Cranston Cranston, RI 02910
834 Park Avenue Cranston, Cranston, RI, 02910
$1,095,000
For Sale
$1,095,000
Own a long-running Asian grocery storefront with updated HVAC, major refrigeration, and rear loading.
Property Size3,703 SF
Price / SF$295.71
Days on Market46
Property Features for 834 Park Avenue Cranston
General Information
- Standard status
- Active
- Size
- 3,703 SF
Building Details
- Year Built
- 1940
Listing Agency
(508) 501-1443
Listed by
Stephen Rose
(508) 501-1443
Source
Milestonerealtyinc
Added: Jun 3 Checked: Jul 17 at 2:41 am
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 Stephen Rose
Investment Insights
Based on property information with market context.
This property is an operating Asian retail grocery market that has been in business since 1993. The sale includes the retail building and substantial refrigeration infrastructure, with updates and new equipment highlighted by an HVAC system, huge outdoor and indoor walk-in freezers, and refrigerators. There is also a 3,000+ square foot full semi-finished basement used for storage. A loading dock is located at the rear of the building, supporting deliveries and restocking needs. The market’s offerings are described as fresh vegetables, fruits, snacks, and grocery items sourced from Taiwan, Japan, China, and South Asia.
The building is located at 834 Park Avenue in Cranston, Rhode Island. Parking is described as plentiful both on the street and at the back of the building, and rear access is supported by the single loading dock.
For buyers or owner-operators seeking a turnkey retail grocery environment, this space is positioned around refrigerated storage and active retail operations. Please note that stock and inventory are not included in the sale, and a separate price may be negotiated.
The building is located at 834 Park Avenue in Cranston, Rhode Island. Parking is described as plentiful both on the street and at the back of the building, and rear access is supported by the single loading dock.
For buyers or owner-operators seeking a turnkey retail grocery environment, this space is positioned around refrigerated storage and active retail operations. Please note that stock and inventory are not included in the sale, and a separate price may be negotiated.
Key Highlights
- Asian grocery storefront operating since 1993
- Year built 1940 building with updated HVAC system
- Includes large outdoor and indoor walk‑in freezers plus refrigerators
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.7k | $18.00 |
| − Vacancy | −$6.9k | −$1.85 |
| EGI | $59.8k | $16.15 |
| − OpEx | −$15.0k | −$4.04 |
| NOI | $44.9k | $12.11 |
3,703 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$640.7K
$560.6K – $747.5K
NOI $44,851 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$597.2K
$522.6K – $696.8K
NOI $41,805 @ 7.0% cap · market cap 3.82%
Theoretical Best
Multifamily LT 5
$880.8K
$770.7K – $1.03M
NOI $61,657 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Chinese American Mini ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Chinese American Mini Market — 834 Park Ave, Cranston, RI 02910
- Mi Rae Market — 602 Reservoir Ave, Cranston, RI 02910
- Armando 2 — 895 Elmwood Ave, Providence, RI 02907
- Price Rite Marketplace of Cranston — 1415 Elmwood Ave, Cranston, RI 02910
- Union Supermarket Providence — 895 Elmwood Ave, Providence, RI 02907
FAQs
What type of property is this?
Grocery and convenience store - Own a long-running Asian grocery storefront with updated HVAC, major refrigeration, and rear loading.
Where is this grocery and convenience store located?
The property is located at 834 Park Avenue Cranston Cranston, RI.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Asian grocery storefront operating since 1993; Year built 1940 building with updated HVAC system; Includes large outdoor and indoor walk‑in freezers plus refrigerators
