Cranston, Rhode Island, offers a diverse range of commercial real estate opportunities, with 60 listings available for sale. Investing in commercial real estate in Cranston can be a wise decision, given the city's strong economy, excellent infrastructure, and desirable location. Commercial real estate in Cranston encompasses a variety of property types, including office buildings, retail spaces, and industrial facilities, offering investors a range of options to suit their needs. The city's amenities, such as Roger Williams Park and Garden City Park, and its proximity to major highways like I-95 and I-295, make it an attractive location for businesses and residents alike. Additionally, Cranston is home to several major employers, including Taco Comfort Solutions and Citizens Bank, which contribute to the city's economic stability. With its rich history, cultural events like the St. Mary's Feast, and a population of approximately 80,000, Cranston is an excellent choice for businesses and investors looking to establish a presence in the Providence metropolitan area.
Cranston's commercial real estate market is characterized by its diverse range of properties, including office buildings, retail spaces, and industrial facilities. The city's office market is supported by its strong economy and excellent infrastructure, with properties like the Cranston Medical Center and the Rhode Island Department of Corrections. The retail market is also thriving, with shopping centers like Garden City Center and Chapel View. Industrial properties, such as those found in the Knightsville area, offer opportunities for manufacturing and logistics businesses. In addition to commercial real estate, Cranston also offers a range of other property types, including industrial properties, apartment buildings, office properties, and hotels. Industrial properties in Cranston offer access to major highways and transportation infrastructure, making them ideal for businesses that require easy shipping and logistics. Apartment buildings in Cranston offer a range of amenities, including proximity to parks and shopping centers. Office properties in Cranston are supported by the city's strong economy and excellent infrastructure, with properties like the Cranston Medical Center and the Rhode Island Department of Corrections. Hotels in Cranston offer convenient access to major highways and attractions, making them ideal for business travelers and tourists. With its diverse range of properties and excellent location, Cranston is an excellent choice for businesses and investors looking to establish a presence in the Providence metropolitan area.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Cranston, Rhode Island, there are several alternatives to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for eligible small businesses;
- Alternative lenders and private money lenders, which may offer more flexible terms and faster approval processes, but often at higher interest rates.
With 60 available listings of commercial real estate in Cranston, understanding the financing options is crucial to making an informed investment decision. The average price per square foot is $198 USD, and the average size of available properties is 19,752 square feet, with the largest property spanning 77,985 square feet. Additionally, the average cap rate is 7.13%, providing investors with a potential return on their investment.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Cranston, Rhode Island, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 7.13%, investors can gauge the property's profitability, and make informed decisions about their investment. For a deeper understanding of this concept, it's essential to know what is a cap rate, and how it affects the overall value of a commercial property.
Currently, there are 60 available listings of commercial real estate in Cranston, offering a range of opportunities for investors. From retail spaces to office buildings, these properties vary in size, with an average size of 19,752 square feet, and a largest size of 77,985 square feet. With a diverse economy and a strong presence of government facilities, educational institutions, and transportation infrastructure, Cranston presents an attractive market for commercial real estate investors.
What is considered a commercial property?
In Cranston, Rhode Island, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities, which are available for sale or lease, with 60 listings currently on the market.
These properties can range in size from 19,752 square feet to 77,985 square feet, with an average price per square foot of $198 USD and an average cap rate of 7.13%, making Cranston an attractive option for businesses and investors alike.
