Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    678 Park Ave Cranston, RI 02910
    Back to Search
    Property profile & analytics

    678 Park Ave Cranston, RI 02910

    View on Map
    • Commercial real estate
    • 7,099 SF
    • 0.70 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Assisted Recovery / Medical Clinic
    • Drink-Less / Medical Clinic

    Property Details for 678 Park Ave

    Year built
    1850
    Lot size
    0.70 lot acres
    Property size
    7,099 SF
    Property type
    Commercial real estate

    Description

    This exceptional 7,099 square foot mixed-use property at 678 Park Avenue in Cranston, RI, presents a remarkable investment opportunity for developers and discerning buyers. Currently configured as a funeral home, the building boasts impressive features including a grand foyer with skylights, two large viewing rooms, a unique office with cathedral ceilings, and three half baths, one of which is fully handicap accessible. The property also includes two potential large apartments

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cranston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.428
    Latitude
    41.7772

    Comparable in this City

    • Value Estimation by Request

      190 Gansett Ave Gansett Ave

      Restaurants
      190 Gansett Ave Gansett Ave, Cranston, RI 02910
      View Details
    • Value Estimation by Request

      Scituate Ave

      COMMERCIAL (GENERAL)
      Scituate Ave, Cranston, RI 02910
      View Details
    • Value Estimation by Request
      3,940 SF

      910 Park Ave

      Land • 3,940 SF
      910 Park Ave, Cranston, RI 02910
      View Details
    • Value Estimation
      $1,750,000
      16,655 SF

      48 Rolfe Sq

      SHOW ROOM, WAREHOUSE • 16,655 SF
      48 Rolfe Sq, Cranston, RI 02910-3411
      View Details
    • Value Estimation by Request
      1,668 SF

      1053 Park Ave

      SHOW ROOM, WAREHOUSE • 1,668 SF
      1053 Park Ave, Cranston, RI 02910-3239
      View Details
    • Value Estimation
      $3,010,000
      28,958 SF

      550 Pontiac Ave

      SHOW ROOM, WAREHOUSE • 28,958 SF
      550 Pontiac Ave, Cranston, RI 02910-4710
      View Details

    Similar Nearby for Sale

    • $119,900

      Cranston Commercial Land For Sale

      Commercial land with existing foundation, variance needed for new construction.
      555 Park Ave, Cranston, RI 02910
      View Details
    • $749,000
      4,748 SF

      Turnkey Restaurant with Extra Lot

      Turnkey restaurant with equipment, furniture, and extra lot included.
      146 Gansett Ave, Cranston, RI 02910
      View Details
    • $1,300,000

      Retail Building at Park & Elmwood

      Retail building with four units at a major intersection.
      551 Park Ave, Cranston, RI 02910
      View Details
    • Contact for pricing

      Turnkey Restaurant Infrastructure & Building

      Commercial building with complete restaurant infrastructure in a bustling location.
      190 Gansett Ave, Cranston, RI 02910
      View Details
    • $559,900
      2,700 SF

      Cranston Commercial Building For Sale

      2700 SF commercial building in high-traffic Cranston location.
      761 Park Ave, Cranston, RI 02910
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,800 SF

      Spacious Retail Space on Park Avenue

      First floor retail space with high visibility and ample parking.
      684 Park Ave, Cranston, RI 02910
      View Details
    • $2,200 /Mo

      Second-Floor Office Space Available

      2,528 SF office space with up to ten rooms.
      980 Reservoir Ave, Cranston, RI 02910
      View Details
    • $2,000 /Mo

      Rolfe Square Office Space

      Ground floor office with two offices, reception, and utilities included.
      37 Rolfe Sq, Cranston, RI 02910
      View Details
    • Contact for pricing

      Industrial Storage Space with Loading

      7,100 SF air-conditioned space ideal for manufacturing or warehouse.
      1 Weingeroff Blvd, Cranston, RI 02910
      View Details
    • $2,200 /Mo

      Cranston Office Space For Lease

      Second-floor office space with up to ten rooms for rent.
      980 Reservoir Ave, Cranston, RI 02910
      View Details
    • Contact for pricing

      Cranston Industrial Warehouse Space Available

      16,000 SF warehouse space for lease in Cranston, RI.
      1515 Elmwood Ave, Cranston, RI 02910
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    678 Park Ave
    Cranston, RI 02910
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    678 Park Ave, Cranston, RI, 02910
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!