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Property profile & analytics
FOR SALE
Showrooms
1500 Pontiac Ave, Cranston, RI 02920
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US76-0205154
For Sale
1 / 9
$2,000,000
1500 Pontiac Ave, Cranston, RI 02920
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Property summary
AI-generated overview
This exceptional Class A medical office building, totaling 11,638 square feet, presents a compelling investment opportunity. Located at 1500 Pontiac Ave, Cranston, RI 02920, on a 1.87-acre lot, the property boasts a 100% occupancy rate with a single tenant under a NNN lease extending until 2028, offering a strong 7.00% cap rate. The building, renovated in 2005, is zoned M2 and caters to medical office and lab use. Ample parking is available with 80+ spaces. Its strategic location provides convenient access to major routes and highways, placing it in close proximity to T.F. Green Airport. The property enjoys a desirable location near prominent businesses such as Swarovski, Stylecraft, the Rhode Island Lottery, Rhode Island DLT, and Eleanor Slater Hospital. This stabilized investment offers a secure and lucrative return for discerning investors seeking a high-performing asset in a prime Rhode Island location. The property features a single tenant and is ideally suited for long-term passive income generation.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,638 SF
Lot
1.87 ac (81,344 SF)
Zoning code
M2
APN
CRAN M:13 L:54 U:
UPID
US76-0205154
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
PCMH #1 Hospital
-
Lifespan Group Inc Medical Clinic
-
Lifespan Laboratories Medical Laboratory
-
Dr. Frederick A. Godley III, MD Physician
-
Matthew Salisbury, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.12M
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$2.00M
Owner & transaction history
Pontiac Medical Assoc · 21 yrs held
Pontiac Medical Assoc
since 2005
4 recorded transactions
Zoning & alternative use
M2 · Cranston, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+38.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cranston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cranston submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,290,000
6.5%
$2,115,000
7%
$1,965,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,605,000
Current use
OFFICE BUILDING
$2,230,000
Change: +39% · Conversion: Easy
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$172 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$52,144
Tax year 2023
Assessed value
$1,839,300
Assessed 2023
Previous assessed
$1,839,300
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$328,900
Assessed improvement
$1,510,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Sale
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
6
Total area
11,638 SF
Lot
1.87 ac (81,344 SF)
Zoning code
M2
APN
CRAN M:13 L:54 U:
UPID
US76-0205154
Jurisdiction
CRANSTON
Zoning & alternative use
M2 · Cranston, RI
Zoning M2 · permitted uses
M2 · Cranston, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cranston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
OFFICE BUILDING
Est. value
$2.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
6
Lot
1.87 ac
Current owner
From public records · entity-resolved
Pontiac Medical Assoc
Individual
Mailing address
17 VIRGINIA AVE STE #101, PROVIDENCE, RI 02905-4406
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2005
$3,102,000
Pontiac Medical Assoc
Lebenja Ltd
Grant Deed
$1,938,750 · Randolph Savings Bank
Apr 3, 1995
$659,000
Lebenja Ltd
1500 Pontiac Ave Assoc
Grant Deed
$290,000 · Citizens Savings Bank Ct
Nov 13, 1992
$25,000
1500 Pontiac Ave Assoc
Snyder,ronald E
Grant Deed
—
Dec 21, 1990
$550,000
1500 Pontiac Ave Assoc
Bascia,joseph A
Grant Deed
$550,000 · Fleet National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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