High-Visibility Commercial Building on Oaklawn
For Sale
$949,900
892 Oaklawn, Cranston, RI 02920
Well-maintained commercial building with parking, near Garden City Center.
Property Size4,200 SF
Lot Size0.22 Acres
Price / SF$226.17
Days on Market156
Property Features for 892 Oaklawn
General Information
Standard status
Active
Size
4,200 SF
Lot size
0.22 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,001
Amenities
Central air
Central Air Cooling
Circuit Breakers
Forced Air Heating
Building Details
Year Built
1969
Listing Agency:
TANASIO REALTY ADVISORS
(401) 305-7888
Listed By:
ARI TANASIO
Source:
Corcoran
Added: Mar 6
Changed: Aug 8
Last Checked: Jul 18 at 4:15AM
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 TANASIO REALTY ADVISORS
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers high visibility on Oaklawn Avenue, near Brayton Street. The property features 4,200 square feet of versatile space on a 9,547 square foot lot. There are 13 dedicated parking spaces available. The interior includes laminate flooring, updated bathrooms, and central air. The layout has the potential to be converted back into two or three separate commercial or office suites, making it suitable for owner-occupants or multi-tenant configurations. The property is located near the Garden City Center Shopping Center, with easy access to major highways and Providence. This location is suitable for businesses seeking visibility and growth potential.
Key Highlights
- High‑visibility location on highly trafficked Oaklawn Avenue.
- Boasts 4,200 sq ft of versatile commercial space.
- 13 dedicated parking spaces.
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
$47,416
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
4.99%
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%
$948,320
$948.3K
Cap Rate 7%
$677,371
$677.4K
Cap Rate 9%
$526,844
$526.8K
Market Conditions
NOI Build-Up for 4,200 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
$75.6K $18.00/SF
− Vacancy
−$7.9K −$1.87/SF
EGI
$67.7K $16.13/SF
− OpEx
−$20.3K −$4.84/SF
NOI
$47.4K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /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%
$948,320
Cap Rate 7%
$677,371
Cap Rate 9%
$526,844
Alternative Uses
Best Use
Retail
$677.4K
$592.7K – $790.3K
NOI $47,416 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$999.0K
$874.2K – $1.17M
NOI $69,932 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citizens Bank
Shops & Services
6,664 visits/mo
0.1 miles
Mobil
Shops & Services
3,645 visits/mo
0.1 miles
Oaklawn Carwash
Shops & Services
1,696 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A Bushel and A Peck Floral Shop — 840 Oaklawn Ave, Cranston, RI 02920
- Garden Hills Florist — 751 Oaklawn Ave, Cranston, RI 02920
Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained commercial building with parking, near Garden City Center.
Where is this storefront property located?
The property is located at 892 Oaklawn Cranston, RI.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: High‑visibility location on highly trafficked Oaklawn Avenue.; Boasts 4,200 sq ft of versatile commercial space.; 13 dedicated parking spaces.
