July 24, 2025

Cranston Office Building Sells for $888,000

News Summary

A historic office building in Cranston, which served Rihani International Inc. for 68 years, has sold for $888,000. The transaction involved the estate of the late Munir Rihani, marking a significant change in ownership. The building, located along the Blackstone River, is set to continue serving commercial interests in the area as new owners, The Santos Cos. LLC, step in. The sale price surpassed its recent appraisal, indicating strong interest in local commercial real estate.

Cranston Office Building Sells for $888,000 After Nearly Seven Decades

A historic office building in Cranston has officially changed ownership for $888,000, according to public records. Located at 1647 Cranston St., the property, which spans 7,844 square feet, was sold after 68 years of operation. The transaction involved the estate of Munir Rihani, the founder of Rihani International Inc., a company engaged in the import and export of dental, medical, and scientific supplies.

Details of the Sale

The buyers, The Santos Cos. LLC, are a limited liability company registered in Lincoln, Rhode Island. Michael William Santos is listed as the manager of this company. The sale was facilitated by Sweeney Real Estate & Appraisal, with Thomas Sweeney representing the sellers, Sabrina Garibian and Fares Rihani, who acted as co-executors of Munir Rihani’s estate.

Property Specifications

The one-story brick-and-stone building is located on a 0.51-acre lot adjacent to the Blackstone River, which lies within a National Heritage Corridor. It features a finished basement, along with 17,000 square feet of paved asphalt, providing ample space for various commercial activities. The property falls under a C2 commercial zoning designation, indicating it is suitable for various business uses.

Valuation and Appraisal Details

In 2023, the property was appraised by Cranston assessors at $652,200, with land value assessed separately at $193,800. The sale price exceeded this appraisal, highlighting the potential value and desirability of the location.

Historical Context

Constructed in 1955, the office building has been a cornerstone for Rihani International Inc., which played a significant role in importing and exporting vital medical supplies over the decades. Munir Rihani, the company’s president, was a longtime Cranston resident, contributing to the community through his business. Following his passing, the estate has transitioned the property to new ownership, marking the end of an era for this historic establishment.

Implications of the Sale

The sale of this office building may indicate ongoing interest in commercial properties within Cranston, particularly those situated along significant waterways like the Blackstone River. As developers seek to revitalize and repurpose existing structures, transactions such as this contribute to the evolving landscape of the region’s commercial real estate market.

As new ownership assumes control of the property, it will be interesting to see how The Santos Cos. LLC plans to utilize the space in the future, and whether they will carry on the legacy of health-related commerce that has historically been associated with this building.

Deeper Dive: News & Info About This Topic

HERE Resources

Traffic Incidents in Cranston Lead to Tragic Fatality
Box Truck Crash Causes Major Delays on I-95 in Pawtucket
Pawtucket Firefighters Face Terminations Amid Investigation
Traffic Lane Shift on Route 37 in Cranston
Providence Man Arrested for DUI After Car Crash into Building
Fire Contained at Cranston Mill Complex
Rosemary A. Costigan Appointed Permanent President of CCRI
Providence Police Investigate Violent Altercation
Cranston Resident Discovers Live Grenade in Grandfather’s House
Cranston Police Investigate Car Crash and Hit-and-Run Sentencing

Additional Resources

Author: STAFF HERE PROVIDENCE WRITER

PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.

STAFF HERE PROVIDENCE WRITER

Stay Connected

More Updates

Children participating in painting activities in a classroom

Would You Like To Add Your Business?

Submit