Contacts
Jim Conway
Conway Commercial Group
Property Details
- Property Type Retail
- Property Size 30,466 SF
- Lot Size 2.05 Acre
- Cap Rate % 7.6
- Rental Income / YR 315253
- NOI / YR 243215
- Taxes / YR 72038
- Additional Rent Contact for pricing
- Average Floor Size 17,496 SF
- Year Built 1987
- Date Updated Nov 19, 2024
GREAT INVESTMENT OPPORTUNITY. PERFECT 1031 Exchange Property. 30,000+ square feet of fully rented space. All tenants have multi-year leases with options. Two buildings on just under 2 acres of high visibility traffic near the Cranston/Johnston line. This property has a long history of steady occupancy maintaining a strong cash flow through the best and worst of economic times. Working on a cap rate of approximately 8%, this investment is a proven solid performer. Annual income from the leases is over $300,000 Building was constructed to accommodate the addition of an entire second level which could increase rental space by over 7500 sq ft.
NOTE: This building was constructed in three phases. Phase one in 1962, phase two in 1975 and phase three in 1987.
PLEASE NOTE THE CORRECT ASSESSED VALUE AND PROPERTY TAXES:
Combined assessed value for both parcels is $1,849,900. Property taxes for the combined parcels is $51,475.
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Getting around
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Location
- City Cranston, RI
- Neighborhood Laurel Hill
- Zip Code 02920
- Market Providence
Points of Interest
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Providence
3.99 miles
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T. F. Green Airport
4.73 miles
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Pawtucket/Central Falls
7.28 miles
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BESTWAY
0.60 miles
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Speedway
0.94 miles
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Gulf
1.34 miles
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Cumberland Farms
1.55 miles
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Irving
1.65 miles
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7-Eleven
1.86 miles
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Hess
1.96 miles
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ChargePoint
2.28 miles
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eVgo
4.36 miles
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Tesla Superchargers
4.50 miles
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FM Global Parking Employee Parking Garage
1.18 miles
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Roger Williams Park Zoo Parking
2.98 miles
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Lot I
3.42 miles
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Regency Plaza Parking
3.42 miles
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Roger Williams Botanical Center Visitor Parking
3.44 miles
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Lot K
3.44 miles
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Cathedral Square
3.45 miles
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Lot N
3.46 miles
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China Dynasty Restaurant
0.37 miles
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Harriet's Kitchen
0.45 miles
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Mike's Kitchen
0.48 miles
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Honey Dew Donuts
0.56 miles
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DQ Grill & Chill
0.61 miles
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Vincent Resturant
0.63 miles
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Dunkin'
0.67 miles
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Caffe Itri
0.70 miles
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L'osteria
0.71 miles
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Efendis
0.81 miles
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Shore's Fresh Food Market
0.28 miles
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R E Barry Pumps Inc
0.33 miles
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Rhode Island Hydrophonics
0.34 miles
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Stop & Shop
0.70 miles
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Ocean State Job Lot
0.86 miles
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ALDI
1.30 miles
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Walmart Supercenter
1.37 miles
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TJ Maxx
1.51 miles
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Save-A-Lot
2.01 miles
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Burlington
2.06 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Contact Listing Broker
Jim Conway
Conway Commercial Group