980 Reservoir Avenue, Cranston, RI 02910

Building Details

Year Built 1940 More

Listing Agency: Albert Realty Inc., REALTORS i***@albertrealtors.com Show Phone

Listed By: Carole Scaralia · License RI RES.0017228 Show Phone

Source: Lockandkeyre

Added: Sep 11 Changed: Nov 12 Last Checked: Nov 12 at 8:03AM

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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 Albert Realty Inc., REALTORS

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Located at 980 Reservoir Avenue, this second-floor office property contains 2,528 square feet arranged with up to ten individual rooms. The configuration offers a series of separate office areas within a standalone building constructed in 1940.

The property occupies the corner of Nowell Road at a signalized intersection between Park Avenue and Sockanosett Cross Road. Access to Route 10, Route 95, and Route 295 supports regional connectivity, while an on-site parking area with 16 spaces and an exit onto Nowell Road serves employees and visitors.

Key Highlights

• 2,528 square feet of second‑floor office space
• Up to ten individual rooms
• Standalone building constructed in 1940

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,676

Suggested Prices Based on Cap Rates

Cap Rate 5%

$653,520 $653.5K

Cap Rate 7%

$466,800 $466.8K

Cap Rate 9%

$363,067 $363.1K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,528 SF

Gross rent

$50.7K $20.04/SF

− Vacancy

−$7.1K −$2.81/SF

EGI

$43.6K $17.23/SF

− OpEx

−$10.9K −$4.31/SF

NOI

$32.7K $12.93/SF

Area

Providence County, RI

Vacancy

14.00%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$653,520

Cap Rate 7%

$466,800

Cap Rate 9%

$363,067

Alternative Uses

Best Use

Office B

$466.8K

$408.5K – $544.6K (±1% cap)

NOI $32,676 @ 7.0% cap

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$601.3K

$526.2K – $701.5K (±1% cap)

NOI $42,092 @ 7.0% cap

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Max from RE/MAX Real Estate Agency Steven Jacques Realtor Real Estate Agency Francesca Gallonio - RE/MAX ... Real Estate Agency Elizabeth Brederson, RE/MAX ... Real Estate Agency Referral Maximum Real Estate Agency

Suggested Use

Top Pick Auto Parts Store Parking Lot & Garage Building Supply Big Box & Wholesale Store Storage Facility HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,294

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

Average Price Trend$/SF for Office Units in Cranston, RI

$115 Jul

$150 Aug

$145 Sep

$132 Oct

Properties on Market for Office Units in Cranston

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Flexible office layout with multiple rooms, on-site parking, and convenient regional route access.

Where is this office unit located?

The property is located at 980 Reservoir Avenue Cranston, RI.

What are key features of this property?

This property features: 2,528 square feet of second‑floor office space; Up to ten individual rooms; Standalone building constructed in 1940