Well-Maintained Office Building For
460 East Main Road Middletown Newport, RI 02840
460 East Main Road Middletown, Newport, RI, 02840
$875,000
For Sale
$875,000
Two-story office building with excellent visibility and business potential.
Property Size3,197 SF
Price / SF$273.69
Days on Market62
Property Features for 460 East Main Road Middletown
General Information
- Standard status
- Active
- Size
- 3,197 SF
Building Details
- Year Built
- 1894
Listing Agency
(508) 501-1443
Listed by
Leanne McCormick
(508) 501-1443
Source
Milestonerealtyinc
Added: May 16 Checked: Jul 16 at 2:22 am
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 Leanne McCormick
Investment Insights
Based on property information with market context.
This well-maintained, two-story office building offers excellent visibility and is situated adjacent to a lighted intersection, facilitating easy access. The property features eight offices and is zoned Limited Business, allowing for a multitude of options. The first floor includes a reception space, two offices, a kitchenette, and two half baths. The second level provides six offices and access to an unfinished third floor, offering expansion possibilities. Additional features include a newer roof, heating system, and electrical wiring. Parking is available for 10 vehicles. The property is centrally located and suitable for various business uses. The sale of the property can also include the adjacent single-family, LBA zoned property.
Key Highlights
- Excellent visibility at a lighted intersection for easy access.
- Centrally located with Limited Business zoning allowing for a multitude of options.
- Eight office spaces across two stories, suitable for a growing business.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.4k | $16.08 |
| − Vacancy | −$10.6k | −$3.32 |
| EGI | $40.8k | $12.76 |
| − OpEx | −$10.2k | −$3.19 |
| NOI | $30.6k | $9.57 |
3,197 SF · lease $16.08/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Office B
$436.9K
$382.3K – $509.8K
NOI $30,586 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$762.8K
$667.5K – $890.0K
NOI $53,397 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story office building with excellent visibility and business potential.
Where is this office building located?
The property is located at 460 East Main Road Middletown Newport, RI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Excellent visibility at a lighted intersection for easy access.; Centrally located with Limited Business zoning allowing for a multitude of options.; Eight office spaces across two stories, suitable for a growing business.
