Medical Office with Exam
New
For Sale
$189,000
501 Great Road, North Smithfield, RI 02896
Commercial/Business,Commercial Sale, North Smithfield, RI
Property Size1,485 SF
Price / SF$127.27
Days on Market2
Property Features for 501 Great Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
50
Security features
Security System
Interior features
Ceiling Height (9 to 12 Ft)
Subdivision
Branch Village
Lot features
Assoc. Fee, Wooded, Office Park
Standard status
Active
Size
1,485 SF
Additional Details
Property Use
Medical Office
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4312
HOA Fee
$1,150 Quarterly
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Number of units
1
Building materials
Frame
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Scott McGee · License #S32155
(401) 639-2906
Added: Nov 5
Last Checked: Nov 6 at 2:06PM
MLS# 1427881
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
At 501 Great Road in North Smithfield, this 1,485-square-foot medical office was built in 1986. Its layout includes examination rooms, and some of the medical equipment currently in the space may be negotiated as part of a sale. The frame building has 9-to-12-foot ceilings, forced-air heat, and central air conditioning.
The office is connected to water and sewer services and is subject to a homeowners association. The existing room configuration and service connections are established features of the property.
The office is connected to water and sewer services and is subject to a homeowners association. The existing room configuration and service connections are established features of the property.
Key Highlights
- 1,485 square feet of medical office space
- Examination rooms within the existing layout
- Some existing medical equipment may be negotiated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,389
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$287,780
$287.8K
Cap Rate 7%
$205,557
$205.6K
Cap Rate 9%
$159,878
$159.9K
Market Conditions
NOI Build-Up for 1,485 SF
Gross rent
$26.7K $18.00/SF
− Vacancy
−$2.7K −$1.85/SF
EGI
$24.0K $16.15/SF
− OpEx
−$9.6K −$6.46/SF
NOI
$14.4K $9.69/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$287,780
Cap Rate 7%
$205,557
Cap Rate 9%
$159,878
Alternative Uses
Best Use
Office B
$274.2K
$239.9K – $319.9K
NOI $19,195 @ 7.0% cap · market cap 10.16%
Second Best
Healthcare Medical
$205.6K
$179.9K – $239.8K
NOI $14,389 @ 7.0% cap · market cap 7.61%
Theoretical Best
Multifamily LT 5
$353.2K
$309.1K – $412.1K
NOI $24,726 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02896, RI
11,154
Population
4,759
Households
2.3
Avg Household Size
48
Median Age
34%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
485
Density / Sq Mi
$109,436
Median Household Income
$57,420
Median Earnings
$1,282
Median Rent
$423,500
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Providence County, RI
Properties on Market for Medical Office Space in Providence County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A flexible professional suite includes examination rooms and connections to public water and sewer.
Where is this medical office space located?
The property is located at 501 Great Road North Smithfield, RI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: 1,485 square feet of medical office space; Examination rooms within the existing layout; Some existing medical equipment may be negotiated
