51 Worthington Rd
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51 Worthington Rd
22,525 SF Industrial Building Cranston, RI 02920 $2,875,000 ($128/SF) 7.69% Cap Rate
Investment Highlights
- Brand new 358 Panel Solar Array with a 20 year lease agreement with Rhode Island Rene
- 2023 New Roof with a 20 year warranty
- Easy access to two major highways: Routes 95 & 295
- 100% NNN Leased. Newly executed lease extension to October 31, 2029
- 2024 New Electrical Transformer
- New Led Lighting throughout the building installed by RISE Energy
Executive Summary
Prime Investment Property has two separate sources of income.
Property Facts
| Price | $2,875,000 | Rentable Building Area | 22,525 SF |
| Price Per SF | $128 | No. Stories | 2 |
| Sale Type | Investment NNN | Year Built | 1965 |
| Cap Rate | 7.69% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.33/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 15 FT |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Lot Size | 1.09 AC | No. Drive In / Grade-Level Doors | 2 |
| Price | $2,875,000 |
| Price Per SF | $128 |
| Sale Type | Investment NNN |
| Cap Rate | 7.69% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 1.09 AC |
| Rentable Building Area | 22,525 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Tenancy | Single |
| Parking Ratio | 1.33/1,000 SF |
| Clear Ceiling Height | 15 FT |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 2 |
Amenities
- Bus Line
- Conferencing Facility
- Fenced Lot
- Floor Drains
- Front Loading
- Security System
- Signage
- Wheelchair Accessible
- Reception
- Storage Space
- Recessed Lighting
- Fluorescent Lighting
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Goodyear Tire and Rubber Company
- Manufacturing
- 22,525 SF
- $7.35
- Triple Net
- Oct 2029
- Rhode Island Renewable Energy
- Utilities
- 18,000 SF
- $3.08
- -
- Mar 2044
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Goodyear Tire and Rubber Company | Manufacturing | 22,525 SF | $7.35 | Triple Net | Oct 2029 | |
| Rhode Island Renewable Energy | Utilities | 18,000 SF | $3.08 | - | Mar 2044 |
PROPERTY TAXES
| Parcel Number | CRAN-000010-000004-000758 | Improvements Assessment | $1,238,100 |
| Land Assessment | $239,200 | Total Assessment | $1,477,300 |
PROPERTY TAXES
Parcel Number
CRAN-000010-000004-000758
Land Assessment
$239,200
Improvements Assessment
$1,238,100
Total Assessment
$1,477,300
zoning
| Zoning Code | M2 (Zoned for heavy industrial/manufacturing) |
| M2 (Zoned for heavy industrial/manufacturing) |
-
Anthony Silvestri - Silvestri Leasing Company
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51 Worthington Rd
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