781-776-4000
661 Park Ave, Cranston, RI for Sale
Freestanding - FOR SALE
1/5
null | Request Cap Rate

661 Park Ave
Cranston, RI 02910


HIGHLIGHTS

  • Approved plans

OVERVIEW

Horvath & Tremblay is pleased to present 661 PARK, a tremendous opportunity to develop a multifamily residential community in Cranston, Rhode Island. The property has been conceptually deigned to accommodate the development of 75 surfaced parked multifamily units adjacent to Interstate 95 less than 4-miles from Downtown Providence. Aside from the property’s direct access to Interstate 95 the property also benefits from its direct proximity to TF Green International Airport providing more than 100 direct flights daily with locations ranging from Florida to Denver (Midwest) and the Mid-Atlantic to Los Angeles. Also in direct proximity to the property are a few other critical transportation corridors including Rhode Island Routes 2 and 10, all of which lead into Downtown Providence and beyond. The City of Cranston is in the midst of a dynamic revitalization spurred mainly by the pro-growth culture adopted by City officials. Cranston’s Smart Growth Master Plan has created an inviting and efficient process for developers to achieve not only approval of projects, but increased optionality for special exception uses and variances to current zoning. In the coming years, opportunities to find a surface-parked, multifamily development sites, such as 661 PARK, will become increasingly more difficult.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

2.07 AC

LAND SF

90,169 SF

ZONING

C-3

APN/PARCEL ID

CRAN-000003-000003-001696

ASK ABOUT THIS PROPERTY

Dennis KelleherHorvath & TremblayMore Info
781-776-4000

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Dennis KelleherHorvath & TremblayMore Info
781-776-4000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.