First-Floor Medical Office
For Sale
$189,000
2138 Mendon Road 103b, Cumberland, RI 02864
Move-in ready space in a fully occupied Class B medical building.
Property Size907 SF
Price / SF$208.38
Days on Market40
Property Features for 2138 Mendon Road 103b
General Information
Standard status
Active
Size
907 SF
Class
Class B
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
First Floor
HOA Fee
$397
Building Details
Year Built
2004
Tenancy
Multi
Abandoned
No
Listing Agency:
Engel & Volkers Oceanside
(401) 500-6065
Listed By:
Sam Baldelli Hunt
Source:
Seaveyrealtyteam
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:26AM
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 provides 907 square feet of first-floor medical office space within Cumberland Medical Center. The suite is vacant and move-in ready, offering immediate occupancy in a Class B medical building completed in 2004. The building is fully occupied aside from this available suite.
The property fronts Mendon Road, also designated Route 122, within an established retail corridor in Cumberland. Direct access from I-295 supports convenient arrival for practitioners and patients. On-site amenities include 120 surface parking spaces, along with easy ingress and egress. The suite is positioned for medical office use within an established professional setting.
The property fronts Mendon Road, also designated Route 122, within an established retail corridor in Cumberland. Direct access from I-295 supports convenient arrival for practitioners and patients. On-site amenities include 120 surface parking spaces, along with easy ingress and egress. The suite is positioned for medical office use within an established professional setting.
Key Highlights
- 907 SF first‑floor medical suite
- Vacant and available for immediate occupancy
- Located within fully occupied Cumberland Medical Center
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
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Under-served
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 space in a fully occupied Class B medical building.
Where is this medical office space located?
The property is located at 2138 Mendon Road 103b 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: 907 SF first‑floor medical suite; Vacant and available for immediate occupancy; Located within fully occupied Cumberland Medical Center
