Corner Office
New
For Sale
$129,900
250 Wampanoag Trail 306, East Providence, RI 02915
Corner positioning, private offices, and highway access support a professional work setting.
Property Size437 SF
Price / SF$297.25
Days on Market3
Property Features for 250 Wampanoag Trail 306
General Information
Standard status
Active
Size
437 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1977
Listing Agency:
Compass
(401) 274-1644
Listed By:
Fava + Vieira Group
Source:
Alpernandmesenbourg
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 7:14PM
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 Compass
Investment Insights
Based on property information with market context.
This 437-square-foot office condominium is configured with a reception area, three private offices, a flexible conference or waiting area, and a private bathroom with an adjoining closet. The corner unit has windows on multiple sides, bringing natural light into an efficient office layout. The condominium is located within a recently updated building originally constructed in 1977.
Highway access connects the property with Providence and surrounding markets. On-site parking is available. The layout can accommodate medical, professional, and service-oriented office users seeking a private commercial workspace.
Highway access connects the property with Providence and surrounding markets. On-site parking is available. The layout can accommodate medical, professional, and service-oriented office users seeking a private commercial workspace.
Key Highlights
- 437 SF office condominium
- Three private offices plus reception and flexible conference or waiting area
- Private bathroom with closet
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
$5,649
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
4.35%
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%
$112,980
$113.0K
Cap Rate 7%
$80,700
$80.7K
Cap Rate 9%
$62,767
$62.8K
Market Conditions
NOI Build-Up for 437 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
$8.8K $20.04/SF
− Vacancy
−$1.2K −$2.81/SF
EGI
$7.5K $17.23/SF
− OpEx
−$1.9K −$4.31/SF
NOI
$5.6K $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%
$112,980
Cap Rate 7%
$80,700
Cap Rate 9%
$62,767
Alternative Uses
Best Use
Office B
$80.7K
$70.6K – $94.2K
NOI $5,649 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$103.9K
$91.0K – $121.3K
NOI $7,276 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner positioning, private offices, and highway access support a professional work setting.
Where is this office units located?
The property is located at 250 Wampanoag Trail 306 East Providence, RI.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 437 SF office condominium; Three private offices plus reception and flexible conference or waiting area; Private bathroom with closet
