Built-Out Medical Office
24 Salt Pond Road #D7, South Kingstown, RI 02879
For Sale
$250,000
The unit is configured for medical use and sits beside South County Hospital.
Property Size1,325 SF
Price / SF$188.68
Days on Market18
Property Features for 24 Salt Pond Road #D7
General Information
Standard status
Size
Property subtype
Additional Details
Condition
Property Use
Medical Specialty
Building Details
Year Built
Listing Agency:
HERE Realty
(401) 862-1251
Listed By:
Megan Hayden · License RI REB.0019025
(609) 598-2232
Source:
Lockandkeyre
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 5:50AM
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 HERE Realty
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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 medical office condominium was built in 1984 and has a medical and surgical build-out. The space previously operated as an oral surgery practice.
The unit is adjacent to South County Hospital in South Kingstown, Rhode Island.
The unit is adjacent to South County Hospital in South Kingstown, Rhode Island.
Key Highlights
- Medical and surgical build‑out
- Former oral surgery practice
- Adjacent to South County Hospital
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,531
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,620
$370.6K
Cap Rate 7%
$264,729
$264.7K
Cap Rate 9%
$205,900
$205.9K
Market Conditions
NOI Build-Up for 1,325 SF
Gross rent
$33.4K $25.20/SF
− Vacancy
−$2.5K −$1.89/SF
EGI
$30.9K $23.31/SF
− OpEx
−$12.4K −$9.32/SF
NOI
$18.5K $13.99/SF
Area
Washington County, RI
Vacancy
7.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,620
Cap Rate 7%
$264,729
Cap Rate 9%
$205,900
Alternative Uses
Best Use
Healthcare Medical
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 7.41%
Second Best
Office B
$219.1K
$191.7K – $255.6K
NOI $15,334 @ 7.0% cap · market cap 6.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02879, RI
20,982
Population
11,959
Households
1.8
Avg Household Size
51
Median Age
59%
College-Educated
95%
High-School Grad
39.5 sq mi
ZIP Area
531
Density / Sq Mi
$115,848
Median Household Income
$56,125
Median Earnings
$1,281
Median Rent
$515,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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- Troob Marc DVM — 481 Main St, Wakefield, RI 02879
- Green Deborah DVM — 481 Main St, Wakefield, RI 02879
- South County Veterinary Hospital: Roy Peter DVM — 481 Main St, Wakefield, RI 02879
Frequently Asked Questions
What type of property is this?
Medical Office Space - The unit is configured for medical use and sits beside South County Hospital.
Where is this medical office space located?
The property is located at 24 Salt Pond Road #D7 South Kingstown, RI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Medical and surgical build‑out; Former oral surgery practice; Adjacent to South County Hospital
