545 Atwood AveCranston, RI 02920

Property Details for 545 Atwood Ave

Year built

1962

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.58 AC

Property size (Sq ft)

7,652 SF

Zone code

M1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

CRAN M:12-4 L:3127 U:

APU

CRANM124L3127U

Description

This 5,400-square-foot retail space at 545 Atwood Avenue in Cranston, Rhode Island, is available for lease. The single-tenant property, classified as Class C, underwent renovations in 2018 and boasts a prime location on Route 5, a highly trafficked road with approximately 22,000 vehicles passing daily. The building features a glass front for excellent visibility, 12 assigned parking spaces with additional parking available, and all new LED lighting. Inside, you'll find high ceilings, a mostly open floor plan ideal for customization, space for a private office, and two private ADA-compliant bathrooms. The property includes updated fire code compliance, new electrical systems, and HVAC. All utilities, including water, taxes, and sewer fees, are included in the monthly rent of $3,500. The building's zoning is C3, and it offers 3-phase power. The property is situated in a densely populated area, with approximately 300,000 people within a 5-mile radius and an average household income of $80,000. Its proximity to Cucina Ristorante provides additional foot traffic and visibility. This is a fantastic opportunity for a business seeking a well-maintained, conveniently located space with excellent visibility and included utilities.

• CAP approach

  CAP return

  Valuation

  6%

  $1,859,703

  6.5%

  $1,716,649

  7%

  $1,594,031

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,519,522

  Geo Method

  $2,519,522

• Alternative Use

  Use

  Valuation

  Residential

  $1,448,058

  Hospitality

  $1,326,413

  Educational

  $1,103,560

  Medical

  $1,141,513

  Retail

  $1,716,649

Location Insight

City

Cranston

County

Providence

State

Rhode Island

Latitude

41.7908

Longitude

-71.4716

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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