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 Oct 15, 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.
Flex/R&D for Sale
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Getting around
-
Walk Score ®
-
Transit Score ®
-
Bike Score ®
Location
- City Cranston, RI
- Neighborhood Laurel Hill
- Zip Code 02920
- Market Providence
Points of Interest
-
Providence
3.99 miles
-
T. F. Green Airport
4.73 miles
-
BESTWAY
0.60 miles
-
Cumberland Farms
1.55 miles
-
Irving
1.65 miles
-
7-Eleven
1.86 miles
-
Hess
1.96 miles
-
Gulf Express
2.20 miles
-
Citgo
2.21 miles
-
Shell Gas station
2.26 miles
-
ChargePoint
2.28 miles
-
eVgo
4.36 miles
-
FM Global Parking Employee Parking Garage
1.18 miles
-
Roger Williams Park Zoo Parking
2.98 miles
-
Regency Plaza Parking
3.41 miles
-
Lot I
3.42 miles
-
Roger Williams Botanical Center Visitor Parking
3.44 miles
-
Lot K
3.44 miles
-
Cathedral Square
3.45 miles
-
Lot N
3.46 miles
-
Lot J
3.46 miles
-
China Dynasty Restaurant
0.37 miles
-
Harriet's Kitchen
0.45 miles
-
Mike's Kitchen
0.48 miles
-
Honey Dew Donuts
0.56 miles
-
Caffe Itri
0.70 miles
-
L'osteria
0.71 miles
-
Burger King
0.80 miles
-
Efendis
0.81 miles
-
Domino's Pizza
0.94 miles
-
Dee's Deli
0.98 miles
-
Shore's Fresh Food Market
0.28 miles
-
R E Barry Pumps Inc
0.33 miles
-
Rhode Island Hydrophonics
0.34 miles
-
Stop & Shop
0.70 miles
-
Ocean State Job Lot
0.86 miles
-
Aldi
1.30 miles
-
Walmart Supercenter
1.37 miles
-
TJ Maxx
1.51 miles
-
Save-A-Lot
2.01 miles
-
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