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1500 Pontiac Ave Cranston, RI 02920

High-Yield NNN Leased Medical Building

Overview

Added:
Dec 11, 2024
Days on market:
131
This exceptional Class A medical office building, totaling 11,638 square feet, presents a compelling investment opportunity. Located at 1500 Pontiac Ave, Cranston, RI 02920, on a 1.87-acre lot, the property boasts a 100% occupancy rate with a single tenant under a NNN lease extending until 2028, offering a strong 7.00% cap rate. The building, renovated in 2005, is zoned M2 and caters to medical office and lab use. Ample parking is available with 80+ spaces. Its strategic location provides convenient access to major routes and highways, placing it in close proximity to T.F. Green Airport. The property enjoys a desirable location near prominent businesses such as Swarovski, Stylecraft, the Rhode Island Lottery, Rhode Island DLT, and Eleanor Slater Hospital. This stabilized investment offers a secure and lucrative return for discerning investors seeking a high-performing asset in a prime Rhode Island location. The property features a single tenant and is ideally suited for long-term passive income generation.

Highlights

  • 11,638 SF Class A medical office building.
  • NNN lease, single tenant, 100% occupancy through 2028.
  • 7.00% cap rate, stabilized investment.
  • 1.87-acre lot with 80+ parking spaces.
  • M2 zoning in Cranston, RI, near major routes and T.F. Green Airport.

Property Details for 1500 Pontiac Ave

Property type
Office properties, Medical offices
Square Feet
11,638 SF
Class
A
Lot Size (sq. ft)
81,457 SF

Location Insight

City
Cranston
County
Providence
State
Rhode Island
Latitude
41.7419291
Longitude
-71.4584322

FAQs

What type of property is this?
Office property - High-Yield NNN Leased Medical Building
Where is the office property located?
The property is located at 1500 Pontiac Ave Cranston, RI.
What are key features of this property?
This property features: 11,638 SF Class A medical office building.; NNN lease, single tenant, 100% occupancy through 2028.; 7.00% cap rate, stabilized investment.
How can I contact the broker?
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1500 Pontiac Ave
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