First-Floor Medical Office
For Sale
$189,000
2138 Mendon Road, Cumberland, RI 02864
Move-in ready first-floor medical suite within a fully occupied Class B medical building.
Property Size907 SF
Price / SF$208.38
Days on Market74
Property Features for 2138 Mendon Road
General Information
Standard status
Active
Size
907 SF
Class
B
Total Parking Spaces
120
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,036
Amenities
3
120 Parking Spaces.
Building Details
Year Built
2004
Listing Agency:
Engel & Volkers Oceanside
(401) 500-6065
Listed By:
Sam Baldelli Hunt
(401) 500-6065
Source:
Xome
Added: May 30
Changed: Aug 11
Last Checked: Aug 11 at 4:56AM
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 Engel & Volkers Oceanside
Investment Insights
Based on property information with market context.
Suite 103B is a first-floor medical office suite offering move-in ready space within Cumberland Medical Center, a fully occupied Class B medical building. The suite is currently vacant and available for immediate occupancy.
The building is positioned along the high-traffic retail corridor of Mendon Road (Route 122) with direct access off I-295. Cumberland Medical Center also provides 120 surface parking spaces and easy ingress/egress.
A monthly association fee of approximately $397 covers water, sewer, and common area maintenance expenses.
The building is positioned along the high-traffic retail corridor of Mendon Road (Route 122) with direct access off I-295. Cumberland Medical Center also provides 120 surface parking spaces and easy ingress/egress.
A monthly association fee of approximately $397 covers water, sewer, and common area maintenance expenses.
Key Highlights
- Suite 103B is a first‑floor medical suite with 907 SF of move‑in ready space
- Located in Cumberland Medical Center, a fully occupied Class B medical building
- Suite is vacant and available for immediate occupancy
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
$11,724
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
6.20%
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%
$234,480
$234.5K
Cap Rate 7%
$167,486
$167.5K
Cap Rate 9%
$130,267
$130.3K
Market Conditions
NOI Build-Up for 907 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
$18.2K $20.04/SF
− Vacancy
−$2.5K −$2.81/SF
EGI
$15.6K $17.23/SF
− OpEx
−$3.9K −$4.31/SF
NOI
$11.7K $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%
$234,480
Cap Rate 7%
$167,486
Cap Rate 9%
$130,267
Alternative Uses
Best Use
Office B
$167.5K
$146.6K – $195.4K
NOI $11,724 @ 7.0% cap · market cap 6.20%
Second Best
Healthcare Medical
$125.6K
$109.9K – $146.5K
NOI $8,789 @ 7.0% cap · market cap 4.65%
Theoretical Best
Multifamily LT 5
$215.7K
$188.8K – $251.7K
NOI $15,102 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in ready first-floor medical suite within a fully occupied Class B medical building.
Where is this medical office space located?
The property is located at 2138 Mendon Road Cumberland, RI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Suite 103B is a first‑floor medical suite with 907 SF of move‑in ready space; Located in Cumberland Medical Center, a fully occupied Class B medical building; Suite is vacant and available for immediate occupancy
