Medical Office
For Sale
$285,000
24 Salt Pond Road, South Kingstown, RI 02879
Commercial/Business,Commercial Sale, South Kingstown, RI
Property Size1,325 SF
Lot Size8.26 Acres
Price / SF$215.09
Days on Market85
Property Features for 24 Salt Pond Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Subdivision
South County Hospital
Lot features
Downtown
Standard status
Active
Size
1,325 SF
Lot size
8.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3500
Utilities
Heating system
Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
1
Listing Agency:
Here Realty
(401) 862-1251
Listed By:
Megan Hayden · License #REB.0019025
(609) 598-2232
Added: Jul 14
Changed: Oct 1
Last Checked: Oct 6 at 8:06PM
MLS# 1417859
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,325-square-foot medical office condominium was built in 1984 and previously served as an oral surgery practice. Medical and surgical infrastructure is already in place. The unit has baseboard heating and central air conditioning.
The property is adjacent to South County Hospital at 24 Salt Pond Road in South Kingstown, Rhode Island. Public water serves the property.
The property is adjacent to South County Hospital at 24 Salt Pond Road in South Kingstown, Rhode Island. Public water serves the property.
Key Highlights
- 1,325 square feet of medical office space
- Previously operated as an oral surgery practice
- Existing medical and surgical infrastructure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,531
Cap Rate
6.50%
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 6.50%
Second Best
Office B
$219.1K
$191.7K – $255.6K
NOI $15,334 @ 7.0% cap · market cap 5.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing medical and surgical infrastructure supports a range of healthcare practice configurations.
Where is this medical office space located?
The property is located at 24 Salt Pond Road South Kingstown, RI.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,325 square feet of medical office space; Previously operated as an oral surgery practice; Existing medical and surgical infrastructure
