Move-in Ready Office
For Sale
$129,900
250 Wampanoag #306, East Providence, RI 02915
Efficient 437 SF office condo with flexible layout.
Property Size437 SF
Price / SF$297.25
Days on Market181
Property Features for 250 Wampanoag #306
General Information
Standard status
Active
Size
437 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,260
Amenities
Central air
Central Air Cooling
Forced Air Heating
Building Details
Year Built
1977
Listing Agency:
COMPASS
(401) 274-1644
Listed By:
FAVA + VIEIRA GROUP
(401) 919-7445
Source:
Corcoran
Added: Mar 12
Changed: Sep 4
Last Checked: Sep 8 at 7:28AM
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 COMPASS
Investment Insights
Based on property information with market context.
This move-in ready 437 SF commercial office condominium offers an efficient and flexible layout within a well-maintained, recently updated building. The space features a reception area, three private offices, a flexible conference or waiting area, and a private bathroom with closet. This bright corner unit with multiple window exposures provides a comfortable and professional work environment. Convenient highway access allows easy connectivity to Providence and surrounding markets, with ample on-site parking available. It is ideal for medical, professional, or service-oriented users seeking quality office space.
Key Highlights
- Move‑in ready, efficient 437 SF commercial office condominium.
- Flexible layout with reception area, three private offices, conference/waiting area, and private bathroom.
- Bright corner unit with multiple window exposures.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,649
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,980
$113.0K
Cap Rate 7%
$80,700
$80.7K
Cap Rate 9%
$62,767
$62.8K
Market Conditions
NOI Build-Up for 437 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$8.8K $20.04/SF
− Vacancy
−$1.2K −$2.81/SF
EGI
$7.5K $17.23/SF
− OpEx
−$1.9K −$4.31/SF
NOI
$5.6K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$112,980
Cap Rate 7%
$80,700
Cap Rate 9%
$62,767
Alternative Uses
Best Use
Office B
$80.7K
$70.6K – $94.2K
NOI $5,649 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$103.9K
$91.0K – $121.3K
NOI $7,276 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Efficient 437 SF office condo with flexible layout.
Where is this office units located?
The property is located at 250 Wampanoag #306 East Providence, RI.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Move‑in ready, efficient 437 SF commercial office condominium.; Flexible layout with reception area, three private offices, conference/waiting area, and private bathroom.; Bright corner unit with multiple window exposures.
