Freestanding Retail-Cranston

Retail-Commercial for Sale
Catylist Listing ID: 30529951
Property Subtypes: Free-Standing Building
Building Size (RSF): 10,320 SF
Gross Land Area: 10,320 SF
Sale Price: $575,000
Unit Price: $55.72 PSF
Ceiling: 12 ft.
Property Use Type: Vacant/Owner-User, Business
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 1/10/2020

Overview / Comments

Iconic Free Standing Commercial/ Retail Building Situated on Desirable & Highly Travelled Reservoir Avenue in Cranston! This attractive brick veneer building located at the corner of Reservoir and Ivanhoe Streets is comprised of two units with two levels each. The larger unit with 8820 sf has been home to the owner occupied Rainbow Bakery since 1965. The smaller 1500 sf space is currently leased to Ariel Barber shop with a five year lease in place due to expire in 2022 at 1,000 per month. Property features include highly upgraded electric service, freight elevator in larger unit, 7 year rubber membrane roof, Burnham Gas boiler, 10-12' ceiling height, wood floors, and 9 car parking on the side of the building. Click on the "Virtual Tour" Link to Explore in 3D!!

Attachments & Media

Current Tenants

Tenant Business Name Barbershop
Is Renting? Yes
Current Rent $1,000 PSF (Annual)

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Tax ID/APN: CR 9-573-0
Zoning: C1
Retail Clientele: Business
Property Visibility: Excellent
Largest Nearby Street: Reservoir Ave
Feet of Frontage: 93
Traffic/Vehicle Count: 37,000
Highway Access: 95, 295
Airports: TF Green Airport
Site Description: Corner location Ivanhoe St & Reservoir Ave
Area Description: Heavily Travelled Commercial/Retail Location
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,160 SF
Property Condition: Average
Year Built: 1960
Roof Type: Flat
Construction/Siding: Brick, Concrete
Exterior Description: Concrete/Cinder
Total Parking Spaces: 9
Parking Ratio: 10 (per 1000 SF)
Parking Type: Surface
Freight Elevators: 1
Sprinklers: None
Heat Type: Natural Gas, Steam
Zoning Description: C1
Lot Frontage: 93
Lot Depth: 132
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Commercial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,148 177,775 369,498
Median Age: 39.75 36.07 36.5
Households: 10,951 66,531 141,261

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