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    Concentra Urgent Care Investment Opportunity Title is generated by Realmo AI

    290 Branch Ave, Providence, RI

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    NNN leased urgent care in downtown Providence with annual increases.

    Type:OFFICE
    Property size:
    8,500 SF
    Lot size:
    0.96 Acres
    Price / SF:
    $634/SF
    Added:
    May 12, 2025
    Days on Market:
    390
    Last Refresh:
    May 20 at 8:22 pm

    Property Features for 290 Branch Ave

    General Information

    Standard status
    Active
    Size
    8,500 SF
    Lot size
    0.96 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    John Mansour

    Listing agent John Mansour License #TX 735640

    Listing office Sands Investment Group (SIG) | Austin

    Listing date May 12, 2025

    Source Moodyscre

    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 Sands Investment Group (SIG) | Austin

    HighLights

    • Long‑term 10‑year NNN lease with 2% annual increases.
    • Concentra is the nation’s leader in occupational medicine.
    • Trophy location in downtown Providence, RI with 221,557 residents within a 3‑mile radius.
    • 15+ year operating history at the site.
    • Excellent visibility along Branch Ave and close proximity to I‑95, which sees 142,000 vehicles per day.
    • Ideal retail synergy – close proximity to strong anchor tenants such as Walmart and Home Depot.

    Overview

    This 8,500 square foot property is occupied by Concentra Urgent Care, a national leader in occupational medicine and urgent care services with over 550 locations across 41 states, serving over 50,000 patients daily. The property is located at 290 Branch Avenue in Providence, RI, in a trophy location in downtown Providence, which has 221,557 residents within a 3-mile radius. The property has excellent visibility along Branch Avenue and is in close proximity to I-95, which sees 142,000 vehicles per day. It also benefits from ideal retail synergy, with close proximity to strong anchor tenants such as Walmart and Home Depot. The property is subject to a long-term 10-year NNN lease with attractive 2% annual increases and minimal landlord responsibilities. Concentra has a 15+ year operating history at this site, and their recent 10-year extension suggests a strong commitment to the location, making this a unique investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Dr. Farzaneh Sarlak Pediatrician Concentra Urgent Care Medical Clinic Dr. Matthew Mitchell Physician Alexander Perdikis Physician Dr. Steven Ritucci Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Northern Rhode Island Animal Hospital - A Thrive Pet Healthcare Partner — 152 School St, Forestdale, RI 02824
    • Dr. Jeffrey Logan — 152 School St, Forestdale, RI 02824

    Location Insight

    • Map
    • Local Demand
    City
    Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4147
    Latitude
    41.8475

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    FAQs

    What type of property is this?
    Medical Office Space - NNN leased urgent care in downtown Providence with annual increases.
    Where is this medical office space located?
    The property is located at 290 Branch Ave Providence, RI.
    What is the asking price?
    The asking price for this property is $5,395,652.
    What are key features of this property?
    This property features: Long‑term 10‑year NNN lease with 2% annual increases.; Concentra is the nation’s leader in occupational medicine.; Trophy location in downtown Providence, RI with 221,557 residents within a 3‑mile radius.
    (844) 474-4666 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John Mansour
    Real Estate License ID: TX 735640
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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