Renovated 4-Unit
For Sale
$375,000
899 Cranston Street, Cranston, RI 02920
Commercial/Business,Commercial Sale, Cranston, RI
Property Size1,566 SF
Lot Size0.06 Acres
Price / SF$239.46
Days on Market63
Property Features for 899 Cranston Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C5
Rooms
Basement
Parking
2
Interior features
Ceiling Height (7 to 9 Ft)
Basement
Full
Lot features
Free Standing, Strip Store, Urban
Standard status
Active
Size
1,566 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3679
Utilities
Heating system
Forced Air
Building Details
Year built
1919
Floors in Building
1
Number of units
1
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Michelle Savastano · License #REB.0016954
(401) 265-7078
Added: Jun 25
Changed: Aug 19
Last Checked: Aug 26 at 1:06PM
MLS# 1416374
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,566-square-foot commercial property contains four units, each recently renovated for a clean, contemporary presentation. The configuration supports a range of commercial formats, including office, retail, salon, wellness, and professional-service uses. Interior features include ceiling heights from 7 to 9 feet, forced-air heating, and a basement.
The building occupies a 0.06-acre corner parcel at 899 Cranston Street in Cranston, Rhode Island. Its prominent street-facing position provides exposure to passing activity, while C5 zoning supports its commercial classification. Built in 1919, the property combines a multi-unit layout with updated interiors and a recognizable storefront presence.
The building occupies a 0.06-acre corner parcel at 899 Cranston Street in Cranston, Rhode Island. Its prominent street-facing position provides exposure to passing activity, while C5 zoning supports its commercial classification. Built in 1919, the property combines a multi-unit layout with updated interiors and a recognizable storefront presence.
Key Highlights
- Four‑unit commercial building with 1,566 square feet
- Each unit has been recently renovated
- C5 zoning supports commercial use
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
$17,680
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
4.71%
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%
$353,600
$353.6K
Cap Rate 7%
$252,571
$252.6K
Cap Rate 9%
$196,444
$196.4K
Market Conditions
NOI Build-Up for 1,566 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
$28.2K $18.00/SF
− Vacancy
−$2.9K −$1.87/SF
EGI
$25.3K $16.13/SF
− OpEx
−$7.6K −$4.84/SF
NOI
$17.7K $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%
$353,600
Cap Rate 7%
$252,571
Cap Rate 9%
$196,444
Alternative Uses
Best Use
Retail
$252.6K
$221.0K – $294.7K
NOI $17,680 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$372.5K
$325.9K – $434.6K
NOI $26,075 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
268k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 25%
Shops & Services 18%
Home Improvements & Furnishings 12%
Stop & Shop
Groceries
44,393 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
32,032 visits/mo
0.3 miles
McDonald's
Dining
27,602 visits/mo
0.1 miles
Texas Roadhouse
Dining
25,698 visits/mo
0.2 miles
Wendy's
Dining
25,104 visits/mo
0.2 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
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Similar Off Market Nearby
- Stop & Shop Florist — 200 Garfield Ave, Cranston, RI 02920
Frequently Asked Questions
What type of property is this?
Storefront property - Four updated suites offer flexible commercial occupancy in a corner-positioned building.
Where is this storefront property located?
The property is located at 899 Cranston Street Cranston, RI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit commercial building with 1,566 square feet; Each unit has been recently renovated; C5 zoning supports commercial use
