Remodeled Office Condo with
For Sale
$1,350,000
19 John Clarke Road Middletown, Middletown, RI 02842
Updated office space with water views and expansion potential.
Property Size4,662 SF
Price / SF$289.58
Days on Market153
Property Features for 19 John Clarke Road Middletown
General Information
Standard status
Active
Size
4,662 SF
Total Parking Spaces
10
Taxes and HOA fees
Annual Taxes
$7,585
Building Details
Year Built
1978
Buildings
1
Stories
2
Listed By:
Brian DaSilva
(774) 309-3101
Source:
Milestonerealtyinc
Added: May 16
Changed: Oct 7
Last Checked: Oct 7 at 8:33AM
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 Brian DaSilva
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Investment Insights
Based on property information with market context.
Located in the Aquidneck Corporate Park, this commercial condo offers 4,662 square feet of remodeled and updated office space with water views over Easton's Pond toward Easton's Beach. The layout includes a spacious entrance, five private offices, cubicle workspaces, and a large conference room with a retractable partition. The unit also features a kitchen, two bathrooms, a workshop area, and storage space. An additional 1,722-square-foot mezzanine offers potential for expanded office space, rental income, storage, or future build-out. The property is located in Middletown and includes on-site parking. This property is suitable for professional, creative, or service-based businesses.
Key Highlights
- Desirable Aquidneck Corporate Park location with water views of Easton's Pond and Easton's Beach.
- 4,662 sq ft of remodeled and updated office space with abundant natural light.**
- 1,722 sq ft mezzanine offering potential for expansion, rental income, or storage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,602
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$892,040
$892.0K
Cap Rate 7%
$637,171
$637.2K
Cap Rate 9%
$495,578
$495.6K
Market Conditions
NOI Build-Up for 4,662 SF
Gross rent
$75.0K $16.08/SF
− Vacancy
−$15.5K −$3.32/SF
EGI
$59.5K $12.76/SF
− OpEx
−$14.9K −$3.19/SF
NOI
$44.6K $9.57/SF
Area
Newport County, RI
Vacancy
20.67%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$892,040
Cap Rate 7%
$637,171
Cap Rate 9%
$495,578
Alternative Uses
Best Use
Office B
$637.2K
$557.5K – $743.4K
NOI $44,602 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.11M
$973.3K – $1.30M
NOI $77,866 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office units - Updated office space with water views and expansion potential.
Where is this office units located?
The property is located at 19 John Clarke Road Middletown Middletown, RI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Desirable Aquidneck Corporate Park location with **water views of Easton's Pond and Easton's Beach.**; 4,662 sq ft of remodeled and updated office space with abundant natural light.**; 1,722 sq ft mezzanine offering potential for expansion, rental income, or storage.
