Mixed-Use Property in
For Sale
$775,000
Pending
872 Park, Cranston, RI 02910
Mixed-use property with offices and residential units in Cranston.
Property Size3,911 SF
Lot Size0.23 Acres
Days on Market200
Property Features for 872 Park
General Information
Standard status
Pending
Size
3,911 SF
Lot size
0.23 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,819
Amenities
Central air
Central Air Cooling
Steam Heating
Building Details
Year Built
1902
Listing Agency:
HOMESMART PROFESSIONALS
(401) 921-5011
Listed By:
RALPH GIANFRANCESCO
Source:
Corcoran
Added: Jan 24
Changed: Aug 8
Last Checked: Aug 8 at 6:01AM
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 HOMESMART PROFESSIONALS
Investment Insights
Based on property information with market context.
This mixed-use property is located on a high-traffic street in Cranston and offers an opportunity for investment or owner-occupancy. The property features 3 private offices and ample room for co-workers, along with central air conditioning on the first level. There are also 2 spacious apartments, each with 2 bedrooms. A finished lower level provides potential for expansion. The property includes 10 parking spaces, offering off-street parking.
Key Highlights
- Located on a high‑traffic street in Cranston
- Features 3 private offices
- Includes two 2‑bedroom apartments
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
$65,120
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
8.40%
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%
$1,302,400
$1.3M
Cap Rate 7%
$930,286
$930.3K
Cap Rate 9%
$723,556
$723.6K
Market Conditions
NOI Build-Up for 3,911 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
$99.5K $25.44/SF
− Vacancy
−$6.5K −$1.65/SF
EGI
$93.0K $23.79/SF
− OpEx
−$27.9K −$7.14/SF
NOI
$65.1K $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 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%
$1,302,400
Cap Rate 7%
$930,286
Cap Rate 9%
$723,556
Alternative Uses
Best Use
Multifamily LT 5
$930.3K
$814.0K – $1.09M
NOI $65,120 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$738.3K
$646.0K – $861.4K
NOI $51,682 @ 7.0% cap · market cap 6.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,385
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?
Mixed-use property - Mixed-use property with offices and residential units in Cranston.
Where is this mixed-use property located?
The property is located at 872 Park Cranston, RI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Located on a high‑traffic street in Cranston; Features 3 private offices; Includes two 2‑bedroom apartments
