1041-1045 Cranston St

Retail-Commercial for Sale
Catylist Listing ID: 30298481
Property Subtypes: Free-Standing Building, Mixed Use, Parking Facility, Retail-Pad, Street Retail, Vehicle Related, Other
Building Size (RSF): 4,095 SF
Gross Land Area: 37,831 SF
Sale Price: $799,900
Unit Price: $195.34 PSF
Ceiling: 12 ft.
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/26/2018

Overview / Comments

This investment package includes three parcels. Three C3 parcels on Cranston Street and Abutting Gladstone Street. Once C3 lot on Gladstone is completely paved and used for auto storage. (Easily re-purposed). The current auto sales use is a given but there are many other possibilities. Very High visibility, loads of recent redevelopment in the area. Over 4,000 sq.ft. Of mixed use space and almost an acre of paved land on three lots. Easy highway access with in 1/4 mile of North and South.

Additional Details

Nearest MSA: Providence-Warwick
County: Providence
Retail Clientele: General, Family, Business, Traveler, Recreation
Property Located Between: Park Ave and Rte 10
Property Visibility: Excellent
Highway Access: Very Short distance to the on ramp for both North and South on Rte 10 to I-95 North and South is very close.
Airports: TF Green Airport
Site Description: The three contiguous commercial properties on Cranston Street and Gladstone are currently used as a used car lot. Total area of these three are 37,711 sq. ft. The building is masonry and offers offices, showroom, and garage space for auto reconditioning. Lot 3864 off Gladstone Street could easily become a build-able lot for more commercial uses or potentially more residential apartments or condos. This is nearly 19,000 sq. ft. and can be accessed from the lots on Cranston Street or off Gladstone Street. The four units on Dover Ave are actually very, very nice. This is an easy conversion to sell off condos or can be kept as a rental investment. Current rents are at the $1,250 range but should be higher in this market. There has only been one turn-over since they were built. There are many auto related businesses nearby. These include a car wash, several used car dealerships, repair shops and a custom detailing operation. This site is also diagonally across the street from The Cranston Senior Center.
Area Description: The three commercial properties are completely paved and mostly fenced for security. They are very level. The four unit, although adjacent, is accessed from a side street and has no impact from the commercial lots as far as aesthetics.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1950
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Block, Brick, Concrete, Vinyl Siding, Wood Frame
Exterior Description: Commercial building is block and Brick. The four unit is vinyl sided with thermopane windows and brick accents
Total Parking Spaces: 85
Parking Type: Surface
Parking Description: The three commercial lots are almost 100 percent black top parking areas. Well lighted.
Heat Type: Natural Gas
Heat Source: Baseboard
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: Auto business consists of Showroom, offices, restrooms and garage areas. Condos are at 2 bedroom, 2 bath units with porches and decks.
Lot Frontage: 215
Lot Depth: 210

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 35,235 224,403 397,014
Median Age: 31.79 34.03 36.44
Households: 12,004 83,060 152,533


Photograph of Listing Agent

Allen B Gammons

BHHS Gammons Realty ECCPN Member
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