1301 Elmwood Ave Providence, RI 02905
- Land
Current Use by Public Records
- Land
Property Details for 1301 Elmwood Ave
- Year built
- 1952
- Property type
- Land
Description
This exceptional investment opportunity presents a 41,302 square foot commercial land parcel located at 1301 Elmwood Avenue in Cranston, Rhode Island, zip code 02905. The property, built in 1952, features a single building currently under a long-term net-lease agreement. The tenant, a national leader in specialized K-12+ education services for students with exceptionalities, provides a stable and reliable income stream. The lease has 11 years remaining, with a built-in 2.5% annual rent increase, ensuring consistent growth in return on investment. The asking price is $4,500,000, representing a compelling 7.00% capitalization rate. This is a truly passive investment opportunity with zero owner responsibilities, making it ideal for investors seeking a secure and high-yielding asset. The property's location in Cranston, Providence County, offers excellent access to major transportation routes and a thriving local community. This is a rare chance to acquire a well-leased, low-maintenance commercial property with significant long-term potential. The property is zoned for commercial use.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.3943
- Latitude
- 41.7878
