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37-39 Phenix Ave
Cranston, RI 02920

$330,000 USD

Freestanding Condo For Sale  •  1,500 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 9,235 SF
  • Lot Size 0.82 AC
  • Building Class C
  • Year Built 1980
  • Tenancy Multiple
30 Transit Score
60 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 6&7 Retail 1,500 SF $330,000 USD
  • Unit Size: 1,500 SF
  • Condo Use: Retail
  • Price: $330,000 USD
  • Sale Type: Investment
  • Price/SF: $220.00 USD
Description
Newly renovated restaurant in two combined commercial condominiums, located in busy Western Cranston plaza.

Sale Notes
This offering features two fully combined commercial condominium units in a well-established retail setting along 37 Phenix Avenue in Western Cranston. Currently configured as a fully equipped restaurant, the property benefits from a five-year lease in place, presenting a stable income stream for investors. Tenants have already been secured, ensuring consistent cash flow supported by a strong 7.7% capitalization rate.

Description 

The property consists of two street-level commercial condominium units located at 37 Phenix Avenue in Cranston, Rhode Island. It is classified under a C-2 zoning designation, with land use identified as commercial condominium. Public records indicate an assessed lot size of approximately 0.82 acres for the plaza. The location is within the Providence metropolitan area, offering access to regional commuter routes and positioned near retail amenities. The property includes two bathrooms and an office area.

Highlights

Fully equipped and operational restaurant within a high-traffic retail plaza.
Two contiguous units totaling approximately 1,500 sq. ft. under condominium ownership.
Established lease in place, producing a reported 7.7% capitalization rate.
Convenient access to I-95 and nearby business and residential communities.
On-site parking and prominent street-level visibility along Phenix Avenue.
Adaptable layout suitable for future retail or office configurations if desired.

Amenities

  • Bus Line
  • Pylon Sign
  • Restaurant
  • Signalized Intersection
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
Providence (Providence/Stoughton Line - Massachusetts Bay Transportation Authority Commuter Rail (Purple Line)) 9 min - 5.2 mi
13 min - 6.7 mi
AirportDriveWalkDistance
Rhode Island Tf Green International 17 min - 7.6 mi
Worcester Regional 66 min - 48.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 65
Type: Surface
Included in Rent: Yes
Javier Castro 781-441-9993 Castro Realty
Javier Castro 781-441-9993 Castro Realty