4 Gansett Ave Cranston, RI 02920-7320
- Investment properties
- 1,715 SF
- 0.05 lot acres
Mar 13, 2023
Current Use by Public Records
- Investment properties
Property Details for 4 Gansett Ave
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.05 lot acres
- Property size
- 1,715 SF
- Zone code
- C2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- CRAN M:7-5 L:3509 U:
- APU
- CRANM75L3509U
Description
This exceptional Cranston, RI investment opportunity presents a three-unit mixed-use property situated on a 2,052 sq ft lot at 4 Gansett Avenue, 02920. Built in 1920, the property currently features two ground-floor commercial spaces and a three-bedroom residential unit on the second floor. All units are currently rented with long-term tenants expressing a desire to remain. Each unit benefits from separate utilities. The property offers significant potential for expansion; a fourth occupancy unit is feasible, though prospective buyers should conduct their own due diligence to assess feasibility and obtain necessary permits. This property enjoys a highly convenient location, just 10 minutes from downtown Providence and an hour from Boston, with easy highway access. The proximity to amenities contributes to a desirable work-life balance. Priced at $500,000, this income-producing property represents a compelling investment opportunity for those seeking a strong return and the potential for future development. The property's strong tenant occupancy and desirable location make it an attractive prospect for both seasoned investors and those new to commercial real estate.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cranston
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4522
- Latitude
- 41.7907
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
