Property profile

1005 Reservoir Ave Cranston, RI 02910

OFF-MARKET
Showrooms
Property ID
US76-0198391
1,530 SF 0.11 ac lot Built 1950
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This renovated 5,000 sq ft Cranston, RI storefront at 1005 Reservoir Avenue presents a unique investment opportunity. Built in 1950 and completely renovated in 2021, this property is ideally suited for a salon or barbershop, boasting five hair styling stations, two wash bowls, a dedicated hair color mixing bar, and two private upstairs boutique rooms. Employee amenities include a modernized break room with a full kitchen, a separate employee bathroom, and ample parking. The building features central air and heating, a sound system, security cameras, and is situated on a high-traffic street, minutes from Garden City and other shopping centers. The asking price is $475,000. This turnkey operation is ready for immediate occupancy and offers significant potential for a new owner. The property includes one building on a 5,000 sq ft lot and is zoned for commercial use. All equipment is included in the sale. This is a rare opportunity to acquire a fully equipped and established business in a desirable location. Don't miss out on this exceptional chance to own a thriving salon in a bustling Rhode Island community. The property is located in Providence County, RI, zip code 02910.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1950
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,530 SF
Lot 0.11 ac (5,000 SF)
Zoning code C1
APN CRAN M:9-4 L:2380 U:
UPID US76-0198391

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Photography Service Party Supply Store
  • Wedding Service Photography Service
  • Hair Salon
  • Law Firm

Location

1005 Reservoir Ave Cranston, RI 02910-5134
Cranston metro Census 14000 PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$220k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2020
Last sale
$200,000
6 recorded transactions
2020
$200,000
2019
Price N/A
2015
Price N/A
2015
$143,000
2013
Price N/A
2013
$126,000

Zoning & alternative use

C1 · Cranston, RI
Zoning description

The intent of this district is to provide Office business including Commercial day care, Antiques, second hand shop, consignment shop

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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