68 Gansett Ave, Cranston, RI 02910-2422
This unique 2,200 square foot commercial property at 68 Gansett Avenue in Cranston, RI, presents a compelling investment opportunity. Currently zoned B-1 Residential, it offers significant potential for redevelopment. The property boasts a rich history as a two-story, four-unit multi-family building, and current zoning allows for a duplex or, with updated density regulations, potentially a four-plex. The flexible zoning also accommodates a mixed-use development, ideal for a business owner seeking live-work space. The expansive 5,600 square foot building includes 2,000 square feet of living space, already separated into a vacant unit ready for repurposing. Two separate garages/storage areas provide parking for up to five or six vehicles, with additional off-street parking available. The property benefits from numerous recent updates, including a newer roof and air conditioning unit. Some utilities are separately metered for efficiency. Its prime location across the street from the Peter Pastore Youth Center and a city park adds significant value and appeal. The 0.13-acre lot provides ample space for future development or expansion. This property is ready for a new vision and offers a rare chance to capitalize on its versatile zoning and desirable location. Easy to show.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
B1 · Cranston, RICranston. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.