Mixed-Use Office and Residential
872 Park Ave Cranston, RI 02910
872 Park Ave, Cranston, RI, 02910
$775,000
Pending
For Sale
$775,000
Pending
Two 2-bedroom apartments plus three private offices with central air and ample parking support owner-occupancy or investment use.
Property Size3,911 SF
Days on Market178
Property Features for 872 Park Ave
General Information
- Standard status
- Pending
- Size
- 3,911 SF
Listing Agency
HomeSmart Professionals
(401) 524-4245
Listed by
Ralph Gianfrancesco
(401) 524-4245
Source
Exprealty
Added: Jan 24 Updated: Jul 10 at 4:00 pm Checked: Jul 20 at 5:42 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 HomeSmart Professionals
Investment Insights
Based on property information with market context.
This mixed-use property combines office and residential space in a single structure. The offering includes three private offices and additional room on the first level that could support coworking use. Central air is noted for the first level, and there is a finished lower level that may allow for future expansion. The residential component features two spacious apartments, each with two bedrooms.
The property is located on a major, high-traffic street in Cranston. Off-street parking is a key attribute, with 10 parking spaces available for tenants, employees, visitors, or residents.
For tenants and owner-occupants, the layout supports a flexible live-work or work-with-residential model, with dedicated office space and separate apartment units. For investors, the presence of both income-producing residential units and an office component may appeal to buyers seeking a diversified use profile within one building. The ample parking and central air on the first level also help the property function smoothly for day-to-day operations.
The property is located on a major, high-traffic street in Cranston. Off-street parking is a key attribute, with 10 parking spaces available for tenants, employees, visitors, or residents.
For tenants and owner-occupants, the layout supports a flexible live-work or work-with-residential model, with dedicated office space and separate apartment units. For investors, the presence of both income-producing residential units and an office component may appeal to buyers seeking a diversified use profile within one building. The ample parking and central air on the first level also help the property function smoothly for day-to-day operations.
Key Highlights
- Two residential units, each with 2 bedrooms
- Three private offices on‑site
- Central air on the first level
Local Financial Insights For Multifamily LT 5
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 | $99.5k | $25.44 |
| − Vacancy | −$6.5k | −$1.65 |
| EGI | $93.0k | $23.79 |
| − OpEx | −$27.9k | −$7.14 |
| NOI | $65.1k | $16.65 |
3,911 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Simone Fargiorgio: Allstate ...
Insurance Agency
S. Fargiorgio Agency
Insurance Agency
Allstate Espejo Agency
Insurance Agency
Jose Espejo: Allstate ...
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Two 2-bedroom apartments plus three private offices with central air and ample parking support owner-occupancy or investment use.
Where is this live-work space located?
The property is located at 872 Park Ave 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: Two residential units, each with 2 bedrooms; Three private offices on‑site; Central air on the first level
