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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28 Gardner Ave Cranston, RI 02910-4938

    • Industrial properties
    • 5,000 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0138853
    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.

    Current Use by Public Records

    • National Coatings & Supplies / Paint Store / Auto Body Parts Supplier
    • National Coatings & Supplies (previously Rainbow Paint Supply) / Paint Store

    Property Details for 28 Gardner Ave

    Year built
    1993
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    5,000 SF
    Zone code
    M2
    Property type
    Industrial properties
    APN
    CRAN M:5-3 L:1011 U:
    APU
    CRANM53L1011U

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $435,000
      6.5%
      $400,000
      7%
      $375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $268,000
      Market price range: $117k - $429k

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

    Location Insight

    • Map
    • Local Demand
    City
    Cranston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4278
    Latitude
    41.7635
    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
    $7,314
    $20,800
    $237,200
    $258,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $395,000
      4.70 Acres

      1655 Elmwood Ave

      INDUSTRIAL (GENERAL) • 4.70 Acres
      1655 Elmwood Ave, Cranston, RI 02910-4933
      View Details
    • Value Estimation by Request

      728 Pontiac Ave

      Individual retail properties
      728 Pontiac Ave, Cranston, RI 02910
      View Details
    • Value Estimation
      $775,000
      41,899 SF

      11 Manhassett St

      INDUSTRIAL (GENERAL) • 41,899 SF
      11 Manhassett St, Cranston, RI 02910
      View Details
    • Value Estimation
      $170,000
      1,584 SF

      425 Sta St

      INDUSTRIAL (GENERAL) • 1,584 SF
      425 Sta St, Cranston, RI 02910-2934
      View Details
    • Value Estimation
      $360,000
      7,200 SF

      400 Sta St

      INDUSTRIAL (GENERAL) • 7,200 SF
      400 Sta St, Cranston, RI 02910-2932
      View Details
    • Value Estimation
      $375,000
      12,200 SF

      12 Walter St

      INDUSTRIAL (GENERAL) • 12,200 SF
      12 Walter St, Cranston, RI 02910
      View Details

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      Industrial building with four retail units at a major intersection.
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    • Contact for pricing
      23,410 SF

      Cranston Industrial Building For Sale

      23,410 SF industrial building on 2.36 acres.
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      Cranston Land For Sale

      Land with existing foundation in Cranston, Rhode Island.
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      Cranston Multi-Family Home For Sale

      Two-family home near Highway 95, Roger Williams Park, and Providence.
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      Versatile Commercial Property in Cranston

      Updated commercial property with income potential in a prime location.
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    Similar Nearby for Lease

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      2,100 SF

      Stand-Alone Building with Fenced Space

      2100 SF stand-alone building with fenced outdoor space.
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    • Contact for pricing
      7,650 SF

      Retail Space Near I-95

      Retail property located on a busy section of Reservoir Avenue.
      460 Reservoir Ave, Cranston, RI 02910
      View Details
    • $15 SF/Yr
      10,570 SF

      Retail Space on Park Avenue

      Freestanding retail building with high visibility and ample parking.
      1010 Park Ave, Cranston, RI 02910
      View Details
    • $15 SF/Yr
      3,800 SF

      Spacious Retail Space on Park Avenue

      First floor retail space with high visibility and ample parking.
      684 Park Ave, Cranston, RI 02910
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    • $11 SF/Yr
      3,300 SF

      Cranston Office Space For Rent

      3,300 SF office space in business park location.
      100 Niantic Ave, Cranston, RI 02910
      View Details
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    28 Gardner Ave
    Cranston, RI 02910-4938
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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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