Renovated Medical Office
1180 South Main Street, Burrillville, RI 02859
For Sale
$365,000
One-level commercial space with general commercial zoning that excludes restaurant and food-service uses.
Property Size1,932 SF
Lot Size2.10 Acres
Price / SF$188.92
Days on Market288
Property Features for 1180 South Main Street
General Information
Standard status
Size
Lot size
Property subtype
Lease Term
Additional Details
Condition
Utilities to Site
Property Use
Building Details
Year Built
Buildings
Stories
Building Size
Listing Agency:
RISE REC
Listed By:
James Duffer · License #40967
(401) 633-5764
Source:
Teridegnan
Added: Jan 25
Changed: Nov 7
Last Checked: Nov 7 at 2:35PM
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 RISE REC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,932-square-foot, single-level commercial building sits on a 2.1-acre parcel and has undergone recent renovations. Work includes new high-traffic flooring, an updated exterior facade, and a refreshed parking area. The building’s electrical system has been rewired to code and provides 400-amp service; a natural gas line and tankless on-demand hot water system are also in place.
A shipping and loading dock is located at the rear. Zoning allows a range of general commercial uses, excluding restaurant and food service. The property is at 1180 South Main Street in Burrillville, Rhode Island.
A shipping and loading dock is located at the rear. Zoning allows a range of general commercial uses, excluding restaurant and food service. The property is at 1180 South Main Street in Burrillville, Rhode Island.
Key Highlights
- 1,932‑square‑foot building on a 2.1‑acre lot
- 400‑amp electrical service; building rewired to code
- Rear shipping and loading dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,973
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,460
$499.5K
Cap Rate 7%
$356,757
$356.8K
Cap Rate 9%
$277,478
$277.5K
Market Conditions
NOI Build-Up for 1,932 SF
Gross rent
$38.7K $20.04/SF
− Vacancy
−$5.4K −$2.81/SF
EGI
$33.3K $17.23/SF
− OpEx
−$8.3K −$4.31/SF
NOI
$25.0K $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 Rate 5%
$499,460
Cap Rate 7%
$356,757
Cap Rate 9%
$277,478
Alternative Uses
Best Use
Office B
$356.8K
$312.2K – $416.2K
NOI $24,973 @ 7.0% cap · market cap 6.84%
Second Best
Healthcare Medical
$267.4K
$234.0K – $312.0K
NOI $18,721 @ 7.0% cap · market cap 5.13%
Theoretical Best
Multifamily LT 5
$459.6K
$402.1K – $536.2K
NOI $32,169 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
Median Home Value
Market
Average Price Trend$/SF for Medical Office Space in Providence County, RI
Properties on Market for Medical Office Space in Providence County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - One-level commercial space with general commercial zoning that excludes restaurant and food-service uses.
Where is this medical office space located?
The property is located at 1180 South Main Street Burrillville, RI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1,932‑square‑foot building on a 2.1‑acre lot; 400‑amp electrical service; building rewired to code; Rear shipping and loading dock
