First-Floor Medical Office
For Sale
$209,000
103b-2138 Mendon Rd, Cumberland, RI 02864
Vacant, move-in ready space within a fully occupied Class B medical building.
Property Size907 SF
Price / SF$230.43
Days on Market90
Property Features for 103b-2138 Mendon Rd
General Information
Standard status
Active
Size
907 SF
Class
Class B
Total Parking Spaces
120
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
First Floor
HOA Fee
$397
Taxes and HOA fees
Annual Taxes
$3,036
Building Details
Buildings
1
Owner Occupied
No
Abandoned
No
Listing Agency:
Engel & Volkers Oceanside
(401) 500-6065
Listed By:
Sam Baldelli Hunt
(401) 500-6065
Source:
Exprealty
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 29 at 3:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Engel & Volkers Oceanside
Investment Insights
Based on property information with market context.
Suite 103B is a 907-square-foot medical office condominium on the first floor of Cumberland Medical Center. The space is vacant, configured for medical use, and available for immediate occupancy. The surrounding building is a fully occupied Class B medical property, providing an established professional setting for a practice or medical office user.
The property fronts Mendon Road, also designated Route 122, and has direct access from I-295. On-site parking includes 120 surface spaces, supporting convenient arrival for patients, staff, and visitors. The suite is located at 103B-2138 Mendon Rd in Cumberland, Rhode Island.
The property fronts Mendon Road, also designated Route 122, and has direct access from I-295. On-site parking includes 120 surface spaces, supporting convenient arrival for patients, staff, and visitors. The suite is located at 103B-2138 Mendon Rd in Cumberland, Rhode Island.
Key Highlights
- 907‑square‑foot first‑floor medical suite
- Vacant and available for immediate occupancy
- Located within a fully occupied Class B medical building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,724
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$234,480
$234.5K
Cap Rate 7%
$167,486
$167.5K
Cap Rate 9%
$130,267
$130.3K
Market Conditions
NOI Build-Up for 907 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.2K $20.04/SF
− Vacancy
−$2.5K −$2.81/SF
EGI
$15.6K $17.23/SF
− OpEx
−$3.9K −$4.31/SF
NOI
$11.7K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$234,480
Cap Rate 7%
$167,486
Cap Rate 9%
$130,267
Alternative Uses
Best Use
Office B
$167.5K
$146.6K – $195.4K
NOI $11,724 @ 7.0% cap · market cap 5.61%
Second Best
Healthcare Medical
$125.6K
$109.9K – $146.5K
NOI $8,789 @ 7.0% cap · market cap 4.21%
Theoretical Best
Multifamily LT 5
$215.7K
$188.8K – $251.7K
NOI $15,102 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Vacant, move-in ready space within a fully occupied Class B medical building.
Where is this medical office space located?
The property is located at 103b-2138 Mendon Rd Cumberland, RI.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: 907‑square‑foot first‑floor medical suite; Vacant and available for immediate occupancy; Located within a fully occupied Class B medical building
