941 Park Avenue Office Building

Office for Sale
Catylist Listing ID: 30326815
Property Subtypes: Executive Suites, Office Building
Building Size (RSF): 3,836 SF
Gross Land Area: 7,500 SF
Sale Price: $339,900
Unit Price: $88.61 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: 941 Park Avenue
Class of Space: Class B
Usable Size (USF): 3,836 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/9/2018

Overview / Comments

Amazingly well maintained professional office building located near the corner of Park and Reservoir Avenues. Three floors of well built out space totaling 3,840sf. Currently occupied by a single tenant. Separate utilities for first floor and second floor allow for multiple tenants or ideal for live/work. Great investment opportunity with long term tenant in place. Current tenant is paying $37,200 annually. New HVAC. Two Burnham boilers. Separate garage allows for additional revenue or storage. Paved parking for 15 vehicles.

Highlights:
*VERY WELL MAINTAINED BUILDING
*AMPLE PARKING
*LOCATED AT THE INTERSECTION OF PARK & RESERVOIR AVENUES
*NEWER MECHANICALS
*SEPARATE GARAGE FOR STORAGE OF ADDITIONAL REVENUE
*TURNKEY CONDITION

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $9,400 (Annual)
Tax Value Land $126,400
Tax Value Improvements $182,400
Assessed Value - Total($) $308,800 (Annual)
Potential Rental Income $37,200 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Taxing Authority: City of Cranston
Tax ID/APN: 6/2/580
Zoning: C4
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 1,280 SF
Year Built: 1930
Year Renovated: 2016
Roof Type: Arched
Construction/Siding: Vinyl Siding
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,176 191,037 380,263
Median Age: 37.8 35.24 36.56
Households: 9,861 70,060 145,867

Contact

Photograph of Listing Agent

Jim Conway

Conway Commercial Group of WR Commercial
ECCPN Member
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