1005 Reservoir Ave Cranston, RI 02910
- Showrooms
- 1,530 SF
- 0.11 lot acres
Current Use by Public Records
- Hazian Gregory P / Attorney
- Mercury Photo Lounge / Photo Booth / Event Planner
- HITCHED! Weddings and Events / Wedding Photographer / Dj Service
- Hue the Salon / Hair Salon
- Resnick Law Associates / Attorney
Property Details for 1005 Reservoir Ave
- Year built
- 1950
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.11 lot acres
- Property size
- 1,530 SF
- Zone code
- C1
- Property type
- Showrooms
- APN
- CRAN M:9-4 L:2380 U:
- APU
- CRANM94L2380U
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $235,000
- ML approach
- $220,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $360,000
- 6.5%
- $335,000
- 7%
- $310,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $302,000
- AI Estimate
- $207,000
Market price range: $195k - $383kMarket price range: $107k - $255k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $275,000 Current use
- OFFICE BUILDING
- $295,000 Change: +7% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4509
- Latitude
- 41.7742
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA