Listing Agency: Century 21 AllPoints Realty Show Phone

Listed By: Diana Kryston Show Phone

Source: Exprealty

Added: Jun 25 Changed: Aug 22 Last Checked: Sep 6 at 2:09PM

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Investment Insights

Based on property information with market context.

This beautifully maintained office condominium offers a polished, professional layout with four private offices, a reception area, and a private bathroom. The unit has been recently updated and is designed to support everyday office operations with dedicated rooms and clear separation between workspaces.

Located at 303-250 Wampanoag Trl in Riverside, RI, the property provides easy highway access and proximity to Providence. Onsite parking is available, supporting convenient arrival for employees and clients.

Key Highlights

• Updated office condominium with four private offices
• Includes a reception area and a private bathroom
• Designed with a professional layout for an office practice

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

$10,677

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

7.17%

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%

$213,540 $213.5K

Cap Rate 7%

$152,529 $152.5K

Cap Rate 9%

$118,633 $118.6K

Market Conditions

NOI Build-Up for 826 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

$16.6K $20.04/SF

− Vacancy

−$2.3K −$2.81/SF

EGI

$14.2K $17.23/SF

− OpEx

−$3.6K −$4.31/SF

NOI

$10.7K $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%

$213,540

Cap Rate 7%

$152,529

Cap Rate 9%

$118,633

Alternative Uses

Best Use

Office B

$152.5K

$133.5K – $178.0K (±1% cap)

NOI $10,677 @ 7.0% cap · market cap 7.17%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$196.5K

$171.9K – $229.2K (±1% cap)

NOI $13,753 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Hair Salon Big Box & Wholesale Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

546

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Updated office condominium featuring four private offices, reception, and a private bathroom with ample onsite parking.

Where is this office units located?

The property is located at 303-250 Wampanoag Trl Riverside, RI.

What is the asking price?

The asking price for this property is $149,000.

What are key features of this property?

This property features: Updated office condominium with four private offices; Includes a reception area and a private bathroom; Designed with a professional layout for an office practice