Office Building with On-Site
220 Richmond Townhouse Road, Richmond, RI 02812
For Sale
$499,000
COMM II zoning and a history of professional office use frame the property's commercial profile.
Property Size2,100 SF
Lot Size0.53 Acres
Price / SF$237.62
Days on Market14
Property Features for 220 Richmond Townhouse Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Lease Term
Additional Details
Road Access
Property Use
Building Details
Year Built
Building Size
Listing Agency:
BHHS New England Properties
Listed By:
Heidi Panciera
(401) 596-8500
Source:
Teridegnan
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 8 at 6:40AM
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 BHHS New England Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,100-square-foot office property occupies approximately 0.53 acres in Richmond, Rhode Island. Built in 1970, the building has a flexible interior layout, an established professional office history, and on-site parking. The property is offered for sale, with COMM II zoning.
Located at 220 Richmond Townhouse Road, the site combines an existing office building with its own parking area.
Located at 220 Richmond Townhouse Road, the site combines an existing office building with its own parking area.
Key Highlights
- 2,100‑square‑foot office building on approximately 0.53 acres
- COMM II zoning
- On‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,304
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,080
$486.1K
Cap Rate 7%
$347,200
$347.2K
Cap Rate 9%
$270,044
$270.0K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$42.1K $20.04/SF
− Vacancy
−$9.7K −$4.61/SF
EGI
$32.4K $15.43/SF
− OpEx
−$8.1K −$3.86/SF
NOI
$24.3K $11.57/SF
Area
Washington County, RI
Vacancy
23.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,080
Cap Rate 7%
$347,200
Cap Rate 9%
$270,044
Alternative Uses
Best Use
Office B
$347.2K
$303.8K – $405.1K
NOI $24,304 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$419.6K
$367.1K – $489.5K
NOI $29,371 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 02812, RI
1,220
Population
489
Households
2.5
Avg Household Size
43
Median Age
50%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
305
Density / Sq Mi
$111,711
Median Household Income
$57,500
Median Earnings
$474,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - COMM II zoning and a history of professional office use frame the property's commercial profile.
Where is this office building located?
The property is located at 220 Richmond Townhouse Road Richmond, RI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,100‑square‑foot office building on approximately 0.53 acres; COMM II zoning; On‑site parking
