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    1380 Plainfield St Cranston, RI 02920-2536
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    Property profile & analytics

    1380 Plainfield St Cranston, RI 02920-2536

    View on Map
    • Investment properties
    • 0.14 lot acres
    Off-Market
    Last Sale Jun 20, 2025
    $1,100,000
    Property ID
    US76-0003517
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ambition Tattoo Studio / Tattoo & Piercing 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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000
      ML approach
      $1,085,000

    Get a detailed, property-specific estimation — fast and free

    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

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $69,100
    $276,700
    $345,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $840,000
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      1755 Cranston St

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    • Value Estimation by Request
      0.08 Acres

      1287 Cranston St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.08 Acres
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    • Value Estimation by Request
      4,464 SF

      1286 Cranston St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,464 SF
      1286 Cranston St, Cranston, RI 02920-6722
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    • Value Estimation
      $1,430,000
      0.29 Acres

      1703 Cranston St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.29 Acres
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    • Value Estimation by Request
      3,488 SF

      1536 Cranston St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,488 SF
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    • Value Estimation by Request
      1,440 SF

      42 Eddy St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,440 SF
      42 Eddy St, Cranston, RI 02920-7909
      View Details

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    Similar Nearby for Lease

    • $3,400 /Mo
      4,600 SF

      Commercial Space for Lease

      4600 SF commercial space available for lease.
      555 Atwood Ave, Cranston, RI 02920
      View Details
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      Versatile Commercial Studios for Rent

      Private studios in Cranston with cooperative setting benefits.
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      Office space for rent in a convenient Cranston location.
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      Cranston Office Space For Lease

      Multi-tenanted office building, ideal for medical or general office use.
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      8,636 SF

      Cranston Retail Space Available

      Retail space available for lease in Cranston, Rhode Island.
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      View Details
    • $3,400 /Mo

      Commercial Space For Lease

      4600 SF commercial space available for lease.
      555 Atwood Ave, Cranston, RI 02920
      View Details
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    1380 Plainfield St
    Cranston, RI 02920-2536
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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