1301 Elmwood AveProvidence, RI 02905

Property Details for 1301 Elmwood Ave

Year built

1952

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional investment opportunity presents a 41,302 square foot commercial land parcel located at 1301 Elmwood Avenue in Cranston, Rhode Island, zip code 02905. The property, built in 1952, features a single building currently under a long-term net-lease agreement. The tenant, a national leader in specialized K-12+ education services for students with exceptionalities, provides a stable and reliable income stream. The lease has 11 years remaining, with a built-in 2.5% annual rent increase, ensuring consistent growth in return on investment. The asking price is $4,500,000, representing a compelling 7.00% capitalization rate. This is a truly passive investment opportunity with zero owner responsibilities, making it ideal for investors seeking a secure and high-yielding asset. The property's location in Cranston, Providence County, offers excellent access to major transportation routes and a thriving local community. This is a rare chance to acquire a well-leased, low-maintenance commercial property with significant long-term potential. The property is zoned for commercial use.

Location Insight

City

Providence

County

Providence

State

Rhode Island

Latitude

41.7878

Longitude

-71.3943

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