Updated Medical Office
New
For Sale
$275,000
301-215 Toll Gate Rd, Warwick, RI 02886
Room-level private bathrooms, refreshed finishes, and off-street parking serve clinical or professional operations.
Property Size1,820 SF
Price / SF$151.10
Days on Market6
Property Features for 301-215 Toll Gate Rd
General Information
Standard status
Active
Size
1,820 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,217
Listing Agency:
ELITE Property Group
(401) 345-7278
Listed By:
Cristina Fletcher · License #RES.0043370
(401) 339-0234
Source:
Exprealty
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 25 at 2:50AM
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 ELITE Property Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,820-square-foot medical office space features new LVP flooring, fresh paint, and private bathrooms in exam or office rooms. Natural light enters the interior, and the property occupies a corner lot. The layout and features also support professional office use.
The Warwick property is near Kent County Memorial Hospital, with access to I-95 and I-295. Off-street parking is available for staff and visitors.
The Warwick property is near Kent County Memorial Hospital, with access to I-95 and I-295. Off-street parking is available for staff and visitors.
Key Highlights
- 1,820 square feet of medical office space
- Private bathrooms in exam or office rooms
- New LVP flooring and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,350
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,000
$447.0K
Cap Rate 7%
$319,286
$319.3K
Cap Rate 9%
$248,333
$248.3K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$37.6K $20.64/SF
− Vacancy
−$7.8K −$4.27/SF
EGI
$29.8K $16.37/SF
− OpEx
−$7.5K −$4.09/SF
NOI
$22.4K $12.28/SF
Area
Kent County, RI
Vacancy
20.67%
Lease Rate
$20.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$447,000
Cap Rate 7%
$319,286
Cap Rate 9%
$248,333
Alternative Uses
Best Use
Healthcare Medical
$389.6K
$340.9K – $454.6K
NOI $27,273 @ 7.0% cap · market cap 9.92%
Second Best
Office B
$319.3K
$279.4K – $372.5K
NOI $22,350 @ 7.0% cap · market cap 8.13%
Theoretical Best
Specialty Retail
$455.8K
$398.9K – $531.8K
NOI $31,908 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,391
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Apponaug Animal Hospital — 42 Benefit St, Warwick, RI 02886
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Room-level private bathrooms, refreshed finishes, and off-street parking serve clinical or professional operations.
Where is this medical office space located?
The property is located at 301-215 Toll Gate Rd Warwick, RI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,820 square feet of medical office space; Private bathrooms in exam or office rooms; New LVP flooring and fresh paint
