1500 Pontiac AveCranston, RI 02920

Property Details for 1500 Pontiac Ave

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.87 AC

Property size (Sq ft)

11,638 SF

Zone code

M2

Property type

Showrooms

APN

CRAN M:13 L:54 U:

APU

CRANM13L54U

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,828,440

  6.5%

  $2,610,868

  7%

  $2,424,377

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,831,965

  Geo Method

  $3,831,965

• Alternative Use

  Use

  Valuation

  Residential

  $2,202,365

  Hospitality

  $2,017,354

  Educational

  $1,678,415

  Medical

  $1,736,138

  Retail

  $2,610,868

Location Insight

City

Cranston

County

Providence

State

Rhode Island

Latitude

41.7419

Longitude

-71.4583

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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