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    The Largest CRE Database in the US with Over 1 Million Listings

    1000 Chapel View Blvd Cranston, RI 02920

    Sponsored
    For Sale
    $250,000

    Prime Cranston location, 1619 sq ft, $250,000

    Property size:
    1,619 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    424
    This exceptional commercial property, located at 1000 Chapel View Boulevard, Unit 100, in Cranston, Rhode Island, presents a unique investment opportunity. Currently operating as a restaurant, this 1,619 square foot space is situated in a vibrant neighborhood known for its strong community engagement and blend of retail, dining, and entertainment options. The property is ideally suited for a variety of commercial uses, offering a prime location to capitalize on the area's thriving atmosphere. The asking price is $250,000. The property consists of one building on a land parcel with a listed size of 0 square feet. This listing is for the building and business opportunity, not the land itself. Located in Providence County, Rhode Island, with a zip code of 02920, this property benefits from excellent visibility and accessibility within Cranston's desirable Chapel View area. The address is 1000 Chapel View Boulevard, Unit 100. This is a single-unit commercial property perfect for an established business seeking expansion or a new venture looking for a strong foothold in a bustling community. The property's existing restaurant setup provides a head start for food-related businesses, but its versatility allows for adaptation to other commercial uses. Don't miss this chance to own a piece of Cranston's thriving commercial landscape.

    Property Features for 1000 Chapel View Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    1,619 SF

    Building Details

    Buildings
    1
    Units
    1

    We can help!

    Listing Contact
    Andre Marines

    Learn more

    HighLights

    • 1,619 SF restaurant space for sale at $250,000.
    • Located at 1000 Chapel View Boulevard, Unit 100, Cranston, RI 02920.
    • Situated in a vibrant neighborhood with strong retail, dining, and entertainment activity.
    • Building sale only; land size is listed as 0 square feet.
    • Excellent visibility and accessibility in Cranston's desirable Chapel View area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Firehouse Subs Chapel ... Take-out & Catering Kirshenbaum Law Associates Law Firm Paster & Harpootian Ltd Law Firm Ameriprise Financial Services, ... Financial Advisor Lars Lambrecht - Ameriprise ... Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cranston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4607722
    Latitude
    41.7561555

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    FAQs

    What type of property is this?
    Restaurant - Prime Cranston location, 1619 sq ft, $250,000
    Where is this restaurant located?
    The property is located at 1000 Chapel View Blvd Cranston, RI.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: 1,619 SF restaurant space for sale at $250,000.; Located at 1000 Chapel View Boulevard, Unit 100, Cranston, RI 02920.; Situated in a vibrant neighborhood with strong retail, dining, and entertainment activity.
    Request Owner's contact information
    1000 Chapel View Blvd Cranston, RI 02920
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    Cranston, RI 02920
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1000 Chapel View Blvd Cranston, RI 02920
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    Listing Contact
    Andre Marines
    Learn more
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