Shared-Suite Office
For Sale
Contact for pricing
989 Reservoir Avenue #205, Cranston, RI 02921
Office unit with a waiting area, an additional smaller office, and included utilities.
Property Size300 SF
Price / SF$0.08
Days on Market55
Property Features for 989 Reservoir Avenue #205
General Information
Standard status
Active
Size
300 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Office Units
1
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
Flagship Real Estate Advisors
Listed By:
The Mita Team
(401) 789-2255
Source:
Lockandkeyre
Added: Sep 2
Changed: Oct 25
Last Checked: Oct 24 at 6:39PM
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 Flagship Real Estate Advisors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office unit is located within a shared professional suite and includes access to an adjoining waiting area and a smaller office. The property is part of a building occupied by professional, trade-based, medical, and mental health businesses. Utilities are included, and parking is available at the property. Constructed in 1990, the building offers a range of established business uses within a shared commercial setting.
Key Highlights
- Office unit in a shared suite
- Adjoining waiting area and smaller office included
- Utilities included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$3,878
Suggested Prices Based on Cap Rates
Cap Rate 5%
$77,560
$77.6K
Cap Rate 7%
$55,400
$55.4K
Cap Rate 9%
$43,089
$43.1K
Market Conditions
NOI Build-Up for 300 SF
Gross rent
$6.0K $20.04/SF
− Vacancy
−$842 −$2.81/SF
EGI
$5.2K $17.23/SF
− OpEx
−$1.3K −$4.31/SF
NOI
$3.9K $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%
$77,560
Cap Rate 7%
$55,400
Cap Rate 9%
$43,089
Alternative Uses
Best Use
Office B
$55.4K
$48.5K – $64.6K
NOI $3,878 @ 7.0% cap · market cap 16,158.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$71.4K
$62.4K – $83.3K
NOI $4,995 @ 7.0% cap · market cap 20,812.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 02921, RI
12,406
Population
4,823
Households
2.6
Avg Household Size
45
Median Age
47%
College-Educated
95%
High-School Grad
13.0 sq mi
ZIP Area
954
Density / Sq Mi
$135,500
Median Household Income
$72,060
Median Earnings
$1,439
Median Rent
$523,900
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office unit with a waiting area, an additional smaller office, and included utilities.
Where is this office unit located?
The property is located at 989 Reservoir Avenue #205 Cranston, RI.
What are key features of this property?
This property features: Office unit in a shared suite; Adjoining waiting area and smaller office included; Utilities included
