ADA Accessible Medical Office
For Sale
Contact for pricing
356 East Ave, Pawtucket, RI 02860
Medical office building built out for medical, therapeutic, office, or legal use with waiting room and ADA accessibility.
Property Size1,400 SF
Price / SF$239.29
Days on Market155
Property Features for 356 East Ave
General Information
Standard status
Active
Size
1,400 SF
Property subtype
OFFICE
Amenities
ADA accessible
waiting room
reception area
full unfinished basement
Building Details
Buildings
1
Building Size
1,400 SF
Owner Occupied
Yes
Listing Agency:
MG Commercial
(401) 474-4879
Listed By:
Whitney Rugg · License ##REB.0019529
(401) 474-4879
Source:
Moodyscre
Added: Mar 10
Changed: Aug 11
Last Checked: Aug 11 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 MG Commercial
Investment Insights
Based on property information with market context.
Medical office building with an interior built out for medical, therapeutic, office, or legal use. The space includes 5–6 office or exam rooms, a waiting room, and a reception area, along with 2 restrooms and a full unfinished basement.
The property provides an off-street parking lot and includes employee parking in the rear driveway. ADA accessibility is available.
At 1,400 SF, the layout supports both private consultation-style rooms and common patient or client areas, while the unfinished basement adds additional storage or flex space potential.
The property provides an off-street parking lot and includes employee parking in the rear driveway. ADA accessibility is available.
At 1,400 SF, the layout supports both private consultation-style rooms and common patient or client areas, while the unfinished basement adds additional storage or flex space potential.
Key Highlights
- 1,400 SF medical office building built out for medical, therapeutic, office, or legal use
- ADA accessible
- 5–6 office or exam rooms plus waiting room and reception area
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
$18,096
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
5.40%
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%
$361,920
$361.9K
Cap Rate 7%
$258,514
$258.5K
Cap Rate 9%
$201,067
$201.1K
Market Conditions
NOI Build-Up for 1,400 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
$28.1K $20.04/SF
− Vacancy
−$3.9K −$2.81/SF
EGI
$24.1K $17.23/SF
− OpEx
−$6.0K −$4.31/SF
NOI
$18.1K $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%
$361,920
Cap Rate 7%
$258,514
Cap Rate 9%
$201,067
Alternative Uses
Best Use
Office B
$258.5K
$226.2K – $301.6K
NOI $18,096 @ 7.0% cap · market cap 5.40%
Second Best
Healthcare Medical
$193.8K
$169.6K – $226.1K
NOI $13,566 @ 7.0% cap · market cap 4.05%
Theoretical Best
Multifamily LT 5
$333.0K
$291.4K – $388.5K
NOI $23,311 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Veterinary Services of Pawtucket — 310 East Ave, Pawtucket, RI 02860
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building built out for medical, therapeutic, office, or legal use with waiting room and ADA accessibility.
Where is this medical office space located?
The property is located at 356 East Ave Pawtucket, RI.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1,400 SF medical office building built out for medical, therapeutic, office, or legal use; ADA accessible; 5–6 office or exam rooms plus waiting room and reception area
