1380 Plainfield St Cranston, RI 02920
- Investment properties
- 0.14 lot acres
Current Use by Public Records
- Ambition Tattoo Studio / Tattoo Shop
Property Details for 1380 Plainfield St
- Lot size
- 0.14 lot acres
- Zone code
- C2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- CRAN M:12-2 L:334 U:
- APU
- CRANM122L334U
Description
This exceptional investment opportunity in Cranston, RI, presents a mixed-use property comprising two buildings on a 0.14-acre lot at 1380 Plainfield Street. The residential building boasts twelve bedrooms and six bathrooms, each unit equipped with its own gas meter, electric meter, heating system, and water heater. Amenities include on-site parking, a full basement, and three outdoor decks. Both roofs were replaced less than five years ago. The commercial building features two separately metered units currently leased to a mattress store and a tattoo parlor, each with its own heating system. Both the residential and commercial buildings have full basements. Currently, all rental rates are below market value, presenting a significant opportunity for increased income. One residential unit is vacant and readily rentable. The property is conveniently located on the corner of Plainfield Street and Clemence Street, a high-demand rental area near public transportation, shopping, and schools, situated on the Cranston West/Johnston line. This property is ideally suited for a 1031 exchange, and owner financing may be available to qualified buyers. The total square footage is 6,780. Serious inquiries only. Notice is required for showings of occupied units.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4817
- Latitude
- 41.7962
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
