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545-555 Atwood Ave 2 Properties Offered at $3,200,000 in Cranston, RI
Executive Summary
GREAT INVESTMENT OPPORTUNITY. PERFECT 1031 Exchange Property. 30,000+ square feet of fully rented space. All tenants have multi-year leases with options. Two buildings on just under 2 acres of high visibility traffic near the Cranston/Johnston line. This property has a long history of steady occupancy maintaining a strong cash flow through the best and worst of economic times. Working on a cap rate of approximately 8%, this investment is a proven solid performer. Annual income from the leases is over $300,000 Building was constructed to accommodate the addition of an entire second level above the 555 Atwood structure which could increase rental space by over 7500 sq ft.
NOTE: This building was constructed in three phases. Phase one in 1962, phase two in 1975 and phase three in 1987.
PLEASE NOTE THE CORRECT ASSESSED VALUE AND PROPERTY TAXES:
Combined assessed value for both parcels is $1,849,900. Property taxes for the combined parcels is $51,475.
NOTE: This building was constructed in three phases. Phase one in 1962, phase two in 1975 and phase three in 1987.
PLEASE NOTE THE CORRECT ASSESSED VALUE AND PROPERTY TAXES:
Combined assessed value for both parcels is $1,849,900. Property taxes for the combined parcels is $51,475.
Property Facts
| Price | $3,200,000 | Status | Active |
| Price / SF | $104.01 / SF | Number of Properties | 2 |
| Sale Condition | 1031 Exchange | Individually For Sale | 0 |
| Cap Rate | 7.60% | Total Building Size | 30,766 SF |
| Sale Type | Investment NNN | Total Land Area | 3.16 AC |
| Price | $3,200,000 |
| Price / SF | $104.01 / SF |
| Sale Condition | 1031 Exchange |
| Cap Rate | 7.60% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 30,766 SF |
| Total Land Area | 3.16 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 545 Atwood Ave, Cranston, RI 02920 | Flex | 15,054 SF | 1962 | - |
| 555 Atwood Ave, Cranston, RI 02920 | Retail | 15,712 SF | 1987 | - |
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545-555 Atwood Ave
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