Cranston Commercial Building For
For Sale
$599,900
840 Park, Cranston, RI 02910
Highly visible commercial building with kitchen infrastructure and flexible space.
Property Size3,552 SF
Price / SF$168.89
Days on Market247
Property Features for 840 Park
General Information
Standard status
Active
Size
3,552 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,565
Amenities
Central air
Corner Lot
Baseboard Heating
Central Air Cooling
Central Heating
Circuit Breakers
Ductless Cooling
Forced Air Heating
Generator
Wall Units Cooling
Building Details
Year Built
1940
Listing Agency:
RE/MAX PREFERRED
(401) 353-2200
Listed By:
RICHARD ZOMPA · License #REB.0014356
Source:
Corcoran
Added: Dec 5, 2025
Changed: Aug 8
Last Checked: Jul 20 at 1:54AM
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 RE/MAX PREFERRED
Investment Insights
Based on property information with market context.
This stand-alone commercial building is located at the corner of Park Avenue and Pontiac Avenue in Cranston. The property offers approximately 1,776 square feet on the main level, currently used as Gourmet Caterers, with an additional 1,776 square feet in the lower level. The lower level includes finished office space and storage. The main level layout is suited to a variety of potential uses, and the existing kitchen infrastructure makes it attractive for food-related businesses. Features include dual kitchen hoods with a full Ansul system, a generator, and a newer roof. On-street parking is available. The property offers exposure, flexible space, and strong traffic counts, making it suitable for an owner-user or investor. The total property size is 3,552 square feet. Much of the existing equipment may remain or be sold separately depending on the buyer's needs.
Key Highlights
- Prime location at a busy intersection (Park Avenue and Pontiac Ave) with high visibility.
- Flexible space suitable for various uses, including owner‑user or investor.
- Existing kitchen infrastructure ideal for food‑related businesses (dual kitchen hoods with full Ansul system).
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
$43,023
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
7.17%
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%
$860,460
$860.5K
Cap Rate 7%
$614,614
$614.6K
Cap Rate 9%
$478,033
$478.0K
Market Conditions
NOI Build-Up for 3,552 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
$63.9K $18.00/SF
− Vacancy
−$6.6K −$1.85/SF
EGI
$57.4K $16.15/SF
− OpEx
−$14.3K −$4.04/SF
NOI
$43.0K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /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%
$860,460
Cap Rate 7%
$614,614
Cap Rate 9%
$478,033
Alternative Uses
Best Use
Specialty Retail
$614.6K
$537.8K – $717.1K
NOI $43,023 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$572.9K
$501.3K – $668.4K
NOI $40,101 @ 7.0% cap · market cap 6.68%
Theoretical Best
Multifamily LT 5
$844.9K
$739.3K – $985.7K
NOI $59,143 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
169k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 31%
Home Improvements & Furnishings 3%
Electronics 2%
Cumberland Farms
Shops & Services
25,410 visits/mo
0.4 miles
Dunkin' Donuts
Dining
22,372 visits/mo
0.3 miles
Burger King
Dining
14,922 visits/mo
0.3 miles
Dollar Tree
Shops & Services
14,683 visits/mo
0.1 miles
Shell
Shops & Services
14,401 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Highly visible commercial building with kitchen infrastructure and flexible space.
Where is this commercial kitchen located?
The property is located at 840 Park Cranston, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Prime location at a busy intersection (Park Avenue and Pontiac Ave) with high visibility.; Flexible space suitable for various uses, including owner‑user or investor.; Existing kitchen infrastructure ideal for food‑related businesses (dual kitchen hoods with full Ansul system).
