Medical Office
For Sale
Contact for pricing
1407 S County Trl, East Greenwich, RI 02818
Medical office park in East Greenwich on the Medical Mile, surrounded by other medical office tenants.
Property Size7,666 SF
Price / SF$224.37
Days on Market58
Property Features for 1407 S County Trl
General Information
Standard status
Active
Size
7,666 SF
Property subtype
OFFICE
Listing Agency:
MG Commercial
(401) 751-3200
Listed By:
Whitney Rugg · License ##REB.0019529
(401) 474-4879
Source:
Moodyscre
Added: Jun 16
Changed: Jul 29
Last Checked: Jul 29 at 3:10PM
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 MG Commercial
Investment Insights
Based on property information with market context.
This medical office park offers a total of 7,666 SF of flexible medical space within a concentrated healthcare environment. The property is described as being surrounded by numerous medical office tenants, supporting a like-tenant mix within the same medical office setting.
1407 S County Trl in East Greenwich places the building on the region’s “Medical Mile,” with convenient access to nearby amenities described in the remarks as being moments away.
For medical users seeking a dedicated medical office setting, this property provides a straightforward option within an established cluster of medical office tenants.
1407 S County Trl in East Greenwich places the building on the region’s “Medical Mile,” with convenient access to nearby amenities described in the remarks as being moments away.
For medical users seeking a dedicated medical office setting, this property provides a straightforward option within an established cluster of medical office tenants.
Key Highlights
- 7,666 SF medical office park
- Located on the “Medical Mile”
- Surrounded by numerous medical office tenants
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
$114,875
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
6.68%
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%
$2,297,500
$2.3M
Cap Rate 7%
$1,641,071
$1.6M
Cap Rate 9%
$1,276,389
$1.3M
Market Conditions
NOI Build-Up for 7,666 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
$207.0K $27.00/SF
− Vacancy
−$15.5K −$2.03/SF
EGI
$191.5K $24.98/SF
− OpEx
−$76.6K −$9.99/SF
NOI
$114.9K $14.99/SF
Area
Kent County, RI
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,297,500
Cap Rate 7%
$1,641,071
Cap Rate 9%
$1,276,389
Alternative Uses
Best Use
Healthcare Medical
$1.64M
$1.44M – $1.91M
NOI $114,875 @ 7.0% cap · market cap 6.68%
Second Best
Office B
$1.34M
$1.18M – $1.57M
NOI $94,141 @ 7.0% cap · market cap 5.47%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,400 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
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.
Similar Off Market Nearby
- Ocean State Veterinary Specialists — 1480 S County Trl, East Greenwich, RI 02818
- Pia Torres — 1480 S County Trl, East Greenwich, RI 028181627
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office park in East Greenwich on the Medical Mile, surrounded by other medical office tenants.
Where is this medical office space located?
The property is located at 1407 S County Trl East Greenwich, RI.
What is the asking price?
The asking price for this property is $1,720,000.
What are key features of this property?
This property features: 7,666 SF medical office park; Located on the “Medical Mile”; Surrounded by numerous medical office tenants
