Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    284 Phenix Ave Cranston, RI 02920
    Back to Search
    Property profile & analytics

    284 Phenix Ave Cranston, RI 02920

    View on Map
    • Office Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • AAA Home Inspections Cranston RI / Home Inspector

    Property Details for 284 Phenix Ave

    Property type
    Office Spaces

    Description

    This 400-square-foot traditional office space is ideally situated at 284 Phenix Avenue in Cranston, Rhode Island, zip code 02920. Located in Providence County, this single-tenant property offers excellent visibility and accessibility. The building benefits from high foot traffic, ensuring significant exposure for your business. Its convenient location provides easy access to major highways, simplifying commutes for employees and clients alike. The straightforward address makes the office simple to locate, enhancing its appeal and accessibility. This versatile space presents numerous possibilities for a variety of businesses seeking a well-positioned, easily accessible office in a high-traffic area. The property is currently vacant and ready for immediate occupancy. The space is perfect for a small business or individual professional seeking a convenient and visible location in Cranston. This is a fantastic opportunity to establish a presence in a thriving area with excellent transportation links. Inquire today to learn more about this exceptional office space.

    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
    -71.4762
    Latitude
    41.779

    Comparable in this City

    • Value Estimation by Request
      5,374 SF

      830 Dyer Ave, Unit 1

      CONDOMINIUM OFFICES • 5,374 SF
      830 Dyer Ave, Cranston, RI 02920-6714
      View Details
    • Value Estimation by Request
      1,005 SF

      145 Phenix Ave

      CONDOMINIUM OFFICES • 1,005 SF
      145 Phenix Ave, Cranston, RI 02920-4248
      View Details
    • Value Estimation by Request
      1,109 SF

      1150 Reservoir Ave, Unit L2

      CONDOMINIUM OFFICES • 1,109 SF
      1150 Reservoir Ave, Cranston, RI 02920-6068
      View Details
    • Value Estimation by Request
      3,147 SF

      1615 Pontiac Ave Ste, Unit 1

      CONDOMINIUM OFFICES • 3,147 SF
      1615 Pontiac Ave Ste, Cranston, RI 02920-4491
      View Details
    • Value Estimation by Request
      1,124 SF

      145 Phenix Ave Ste, Unit 4

      CONDOMINIUM OFFICES • 1,124 SF
      145 Phenix Ave Ste, Cranston, RI 02920-4248
      View Details
    • Value Estimation by Request

      1090 New London Ave

      Medical Office Space
      1090 New London Ave, Cranston, RI 02920
      View Details

    Similar Nearby for Sale

    • $415,000
      1,566 SF

      Renovated Commercial Building on Corner Lot

      Four renovated units suitable for office, retail, or wellness services.
      899 Cranston St, Cranston, RI 02920
      View Details
    • Contact for pricing
      11,638 SF

      Cranston Office Building For Sale

      11,638 SF office building NNN leased until 2028.
      1500 Pontiac Ave, Cranston, RI 02920
      View Details
    • $994,000

      High-Visibility Commercial Building on Oaklawn Avenue

      Well-maintained commercial building with parking near Garden City Center.
      892 Oaklawn Ave, Cranston, RI 02920
      View Details
    • $415,000
      1,566 SF

      Cranston Commercial Building For Sale

      Four-unit commercial building in Cranston, RI, move-in ready.
      899 Cranston St, Cranston, RI 02920
      View Details
    • $994,000

      High-Visibility Commercial Building on Oaklawn Avenue

      Well-maintained commercial building with parking, near Garden City Center.
      892 Oaklawn Ave, Cranston, RI 02920
      View Details
    • Contact for pricing
      1,106 SF

      Cranston Commercial Industrial Space

      1,100 sqft commercial space, ideal for light industrial use.
      99 Fletcher Ave, Cranston, RI 02920
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr

      Versatile Commercial Studios for Rent

      Private studios in Cranston with cooperative setting benefits.
      505 Atwood Ave, Cranston, RI 02920
      View Details
    • $10 SF/Yr
      1,270 SF

      Cranston Salon Studios for Rent

      Private studios with cooperative setting benefits in central Cranston.
      505 Atwood Ave, Cranston, RI 02920
      View Details
    • $1,000 /Mo

      Corner Office Space For Rent

      Professional office space with high visibility and easy access.
      1225 Cranston St, Cranston, RI 02920
      View Details
    • Contact for pricing

      Commercial Unit in Retail Strip

      Versatile commercial unit in a well-traveled retail strip.
      690 Oaklawn Ave, Cranston, RI 02920
      View Details
    • Contact for pricing
      4,333 SF

      Cranston Office Space For Lease

      Multi-tenanted office building, ideal for medical or general office use.
      35 Sockanosset Cross Rd, Cranston, RI 02920
      View Details
    • Contact for pricing
      2,857 SF

      Office Space in Chapel View

      Office space for rent in a convenient Cranston location.
      4-30 Chapel View Blvd, Cranston, RI 02920
      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.
    284 Phenix Ave
    Cranston, RI 02920
    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
    284 Phenix Ave, Cranston, RI, 02920
    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!