Corner Office
For Sale
Contact for pricing
320 Phillips St, North Kingstown, RI 02852
Configured for professional use with exam rooms, private offices, elevator access, and reception space.
Property Size3,581 SF
Price / SF$139.60
Days on Market75
Property Features for 320 Phillips St
General Information
Standard status
Active
Size
3,581 SF
Class
B
Total Parking Spaces
50
Property subtype
Office
Investment Type
Owner/User
Net Operating Income
$69,751
Building Details
Year Built
1988
Year Renovated
2026
Buildings
1
Stories
2
Units
3
Tenancy
Single
Listing Agency:
Ri Real Estate Services
Listed By:
Michael Russo · License #REB.0017244
(401) 885-5400
Source:
Crexi
Added: Aug 1
Changed: Oct 5
Last Checked: Oct 12 at 5:16PM
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 Ri Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1988, this 3,581-square-foot office condominium offers a specialized layout with 11 exam rooms, multiple private offices, and four bathrooms. The interior also includes reception and waiting areas, a break room, and storage distributed throughout the workspace. Elevator service supports convenient access within the building, while the corner position and on-site parking add practical functionality.
The property is located at 320 Phillips St in North Kingstown, near Wickford and Kingston train stations. Major routes provide connections toward Providence, South County, Jamestown, and Newport. The existing configuration is well suited to professional office operations and can accommodate a range of office-based uses supported by its room count and shared areas.
The property is located at 320 Phillips St in North Kingstown, near Wickford and Kingston train stations. Major routes provide connections toward Providence, South County, Jamestown, and Newport. The existing configuration is well suited to professional office operations and can accommodate a range of office-based uses supported by its room count and shared areas.
Key Highlights
- 3,581‑square‑foot office condominium built in 1988
- 11 exam rooms, multiple private offices, and four bathrooms
- Reception and waiting areas plus break room and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,443
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,860
$828.9K
Cap Rate 7%
$592,043
$592.0K
Cap Rate 9%
$460,478
$460.5K
Market Conditions
NOI Build-Up for 3,581 SF
Gross rent
$71.8K $20.04/SF
− Vacancy
−$16.5K −$4.61/SF
EGI
$55.3K $15.43/SF
− OpEx
−$13.8K −$3.86/SF
NOI
$41.4K $11.57/SF
Area
Washington County, RI
Vacancy
23.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,860
Cap Rate 7%
$592,043
Cap Rate 9%
$460,478
Alternative Uses
Best Use
Healthcare Medical
$715.5K
$626.1K – $834.7K
NOI $50,084 @ 7.0% cap · market cap 10.02%
Second Best
Office B
$592.0K
$518.0K – $690.7K
NOI $41,443 @ 7.0% cap · market cap 8.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 02852, RI
23,579
Population
10,589
Households
2.2
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
30.8 sq mi
ZIP Area
766
Density / Sq Mi
$112,457
Median Household Income
$60,020
Median Earnings
$1,188
Median Rent
$461,700
Median Home Value
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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?
Office units - Configured for professional use with exam rooms, private offices, elevator access, and reception space.
Where is this office units located?
The property is located at 320 Phillips St North Kingstown, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,581‑square‑foot office condominium built in 1988; 11 exam rooms, multiple private offices, and four bathrooms; Reception and waiting areas plus break room and storage
