540 Reservoir AveCranston, RI 02910

Property Details for 540 Reservoir Ave

Year built

1999

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.44 AC

Property size (Sq ft)

4,200 SF

Zone code

C4

Property type

Showrooms

APN

CRAN M:6-2 L:666 U:

APU

CRANM62L666U

Description

This exceptional investment opportunity presents a fully leased three-unit commercial strip center totaling 4,200 square feet, situated on a prominent 0.44-acre corner lot in Cranston, Rhode Island. Built in 1999, the property boasts a modern design and requires minimal updates, promising a low-maintenance investment. All three units are currently under lease, generating immediate and consistent rental income. The property's strategic location on Reservoir Avenue, one of Rhode Island's busiest state roads, ensures high visibility and significant foot and vehicle traffic. Ample parking is provided with a spacious 19,000 square foot lot, offering convenience for tenants and their customers. The surrounding area features a vibrant mix of retail centers, restaurants, and professional offices, creating a thriving commercial environment and attracting a steady stream of potential customers. This prime Cranston location, combined with the property's strong rental income and minimal maintenance needs, makes this a compelling investment opportunity with significant potential for long-term appreciation. The property's modern construction and desirable location contribute to its strong appeal and promise a stable and profitable investment. This is a rare chance to acquire a well-established, income-producing asset in a highly sought-after Cranston commercial corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $1,020,747

  6.5%

  $942,228

  7%

  $874,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,382,906

  Geo Method

  $1,382,906

• Alternative Use

  Use

  Valuation

  Residential

  $794,804

  Hospitality

  $728,036

  Educational

  $605,718

  Medical

  $626,549

  Retail

  $942,228

Location Insight

City

Cranston

County

Providence

State

Rhode Island

Latitude

41.7839

Longitude

-71.437

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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