Narragansett Medical Office For
For Sale
$89,900
Pending
360 Kingstown #107, Narragansett, RI 02882
Ground level office space in Narragansett Medical Building.
Property Size655 SF
Days on Market372
Property Features for 360 Kingstown #107
General Information
Standard status
Pending
Size
655 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$919
Amenities
Central air
Corner Lot
Central Air Cooling
Circuit Breakers
Forced Air Heating
Building Details
Year Built
1987
Listing Agency:
COMPASS
(401) 364-3388
Listed By:
SCOT HALLBERG
(401) 783-9611
Source:
Corcoran
Added: Sep 30, 2025
Changed: Aug 8
Last Checked: Apr 5 at 9:21PM
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 ground-level office space is located in the Narragansett Medical Building and offers immediate occupancy. The interior layout includes four office/exam rooms, a reception/waiting area, and a bathroom. The property is handicap accessible and features ample parking. The association fee covers all utilities, excluding phone and internet services. Situated in a high-traffic area, the property benefits from excellent visibility and proximity to South County Hospital, with immediate access to Route 1. Permitted uses include medical practices, attorney offices, accounting firms, architectural services, appraisal services, engineering firms, insurance agencies, real estate offices, and surveyor services. The property has a size of 655 square feet.
Key Highlights
- Ground level office space with immediate occupancy.
- Includes 4 office/exam rooms, reception/waiting room, and bathroom.
- Association fee covers all utilities except phone/internet.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,580
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$151,600
$151.6K
Cap Rate 7%
$108,286
$108.3K
Cap Rate 9%
$84,222
$84.2K
Market Conditions
NOI Build-Up for 655 SF
Gross rent
$13.1K $20.04/SF
− Vacancy
−$3.0K −$4.61/SF
EGI
$10.1K $15.43/SF
− OpEx
−$2.5K −$3.86/SF
NOI
$7.6K $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%
$151,600
Cap Rate 7%
$108,286
Cap Rate 9%
$84,222
Alternative Uses
Best Use
Healthcare Medical
$130.9K
$114.5K – $152.7K
NOI $9,161 @ 7.0% cap · market cap 10.19%
Second Best
Office B
$108.3K
$94.8K – $126.3K
NOI $7,580 @ 7.0% cap · market cap 8.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02882, RI
12,919
Population
8,870
Households
1.5
Avg Household Size
52
Median Age
64%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,009
Density / Sq Mi
$95,794
Median Household Income
$44,042
Median Earnings
$1,661
Median Rent
$686,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - Ground level office space in Narragansett Medical Building.
Where is this medical office space located?
The property is located at 360 Kingstown #107 Narragansett, RI.
What is the asking price?
The asking price for this property is $89,900.
What are key features of this property?
This property features: Ground level office space with immediate occupancy.; Includes 4 office/exam rooms, reception/waiting room, and bathroom.; Association fee covers all utilities except phone/internet.
