Office Unit with Ample
2374 Diamond Hill Rd, Cumberland, RI 02864
For Sale
Contact for pricing
Office space in a 2006 building with I-295 access, Route 114 exposure, and on-site parking.
Property Size750 SF
Price / SF$0.03
Days on Market51
Property Features for 2374 Diamond Hill Rd
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty - Franklin
(508) 541-6200
Listed By:
Anna Foncellino
(401) 487-6001
Source:
Lockandkeyre
Added: Sep 21
Changed: Nov 8
Last Checked: Nov 8 at 7:09AM
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 Coldwell Banker Realty - Franklin
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Investment Insights
Based on property information with market context.
This office unit provides 750 square feet within a well-maintained office building constructed in 2006. The space can accommodate professional and healthcare-oriented applications, including legal, accounting, medical, dental, consulting, and physical therapy uses.
The property fronts Diamond Hill Road, identified as Route 114, and offers convenient on-and-off access to I-295. On-site parking is available for occupants and visitors.
The property fronts Diamond Hill Road, identified as Route 114, and offers convenient on-and-off access to I-295. On-site parking is available for occupants and visitors.
Key Highlights
- 750 square feet of available office space
- Well‑maintained office building constructed in 2006
- Fronts Route 114, also known as Diamond Hill Road
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,267
Suggested Prices Based on Cap Rates
Cap Rate 5%
$145,340
$145.3K
Cap Rate 7%
$103,814
$103.8K
Cap Rate 9%
$80,744
$80.7K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$13.5K $18.00/SF
− Vacancy
−$1.4K −$1.85/SF
EGI
$12.1K $16.15/SF
− OpEx
−$4.8K −$6.46/SF
NOI
$7.3K $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%
$145,340
Cap Rate 7%
$103,814
Cap Rate 9%
$80,744
Alternative Uses
Best Use
Office B
$138.5K
$121.2K – $161.6K
NOI $9,694 @ 7.0% cap
Second Best
Healthcare Medical
$103.8K
$90.8K – $121.1K
NOI $7,267 @ 7.0% cap
Theoretical Best
Multifamily LT 5
$178.4K
$156.1K – $208.1K
NOI $12,488 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
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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
$394,800
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Providence County, RI
Properties on Market for Office Units in Providence County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Office space in a 2006 building with I-295 access, Route 114 exposure, and on-site parking.
Where is this office unit located?
The property is located at 2374 Diamond Hill Rd Cumberland, RI.
What are key features of this property?
This property features: 750 square feet of available office space; Well‑maintained office building constructed in 2006; Fronts Route 114, also known as Diamond Hill Road
