1636 Cranston StCranston, RI 02920

Property Details for 1636 Cranston St

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.15 AC

Property size (Sq ft)

1,900 SF

Zone code

B1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

CRAN M:8-1 L:2237 U:

APU

CRANM81L2237U

Description

This exceptional three-unit commercial building is ideally situated in Cranston's vibrant Knightsville section. The property boasts a prime location offering excellent visibility and accessibility. The building comprises three distinct units, each thoughtfully designed to maximize functionality and appeal to a diverse range of tenants. Two units feature generously sized front windows, providing abundant natural light, and include a private bathroom in each. The third unit offers a more versatile layout, encompassing two spacious offices, a small foyer, a convenient bathroom, and a kitchenette area. Adding to the property's practicality is a sizable 300 square foot garage, accessible from the third unit, providing valuable additional storage space. The expansive, open basement offers versatile potential, featuring a separate entrance with stairs leading to the main level and a convenient walkout access to the rear of the building. Ample paved parking is available on-site, ensuring convenient parking for tenants and visitors. Recent significant improvements include a brand new roof and the installation of three new 200-amp electrical services, ensuring the building is equipped for modern commercial needs. With its strategic location, versatile layout, and recent upgrades, this property presents a compelling investment opportunity with significant potential for growth and return. The 0.15-acre lot provides ample space for the building and parking.

• CAP approach

  CAP return

  Valuation

  6%

  $461,766

  6.5%

  $426,246

  7%

  $395,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $625,600

  Geo Method

  $625,600

• Alternative Use

  Use

  Valuation

  Residential

  $359,554

  Hospitality

  $329,350

  Educational

  $274,015

  Medical

  $283,439

  Retail

  $426,246

Location Insight

City

Cranston

County

Providence

State

Rhode Island

Latitude

41.7857

Longitude

-71.4637

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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