Medical Office Condo with Exam
New
For Sale
Contact for pricing
2138 Mendon Road #103B, Cumberland, RI 02864
Patient reception, clinical rooms, and private restrooms are already arranged for immediate occupancy.
Property Size907 SF
Price / SF$0.02
Days on Market6
Property Features for 2138 Mendon Road #103B
General Information
Standard status
Active
Size
907 SF
Class
Class B
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
HOA Fee
$397
Property Use
Medical Office
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
Engel & Volkers Oceanside
(401) 638-0010
Listed By:
Sam Baldelli Hunt · License #RES.0201409
(401) 500-6065
Source:
Lockandkeyre
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 6:01AM
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
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Investment Insights
Based on property information with market context.
This 907 SF medical office condominium at Cumberland Medical Center includes a reception and waiting area, a private office, two exam rooms, a monitor room, and two private restrooms. The suite is in a Class B building completed in 2004 and is available for immediate occupancy. It is the only available unit in the fully occupied center.
The property is on Mendon Road (Route 122), with direct access to I-295. Surface parking is available on site, with 120 spaces serving the building.
The property is on Mendon Road (Route 122), with direct access to I-295. Surface parking is available on site, with 120 spaces serving the building.
Key Highlights
- 907 SF medical office condominium
- Reception and waiting area, private office, two exam rooms, and monitor room
- Two private restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,789
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,780
$175.8K
Cap Rate 7%
$125,557
$125.6K
Cap Rate 9%
$97,656
$97.7K
Market Conditions
NOI Build-Up for 907 SF
Gross rent
$16.3K $18.00/SF
− Vacancy
−$1.7K −$1.85/SF
EGI
$14.6K $16.15/SF
− OpEx
−$5.9K −$6.46/SF
NOI
$8.8K $9.69/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$175,780
Cap Rate 7%
$125,557
Cap Rate 9%
$97,656
Alternative Uses
Best Use
Office B
$167.5K
$146.6K – $195.4K
NOI $11,724 @ 7.0% cap · market cap 65,133.33%
Second Best
Healthcare Medical
$125.6K
$109.9K – $146.5K
NOI $8,789 @ 7.0% cap · market cap 48,827.78%
Theoretical Best
Multifamily LT 5
$215.7K
$188.8K – $251.7K
NOI $15,102 @ 7.0% cap · market cap 83,900.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Patient reception, clinical rooms, and private restrooms are already arranged for immediate occupancy.
Where is this medical office space located?
The property is located at 2138 Mendon Road #103B Cumberland, RI.
What are key features of this property?
This property features: 907 SF medical office condominium; Reception and waiting area, private office, two exam rooms, and monitor room; Two private restrooms
