Versatile Office Space in East
61 Cedar #6, East Greenwich, RI 02818
Spacious office condo with exposed brick, convenient location and parking.
Type:Commercial
Property size:
3,560 SFPrice / SF:
$189/SF- Added:
- Feb 10, 2026
- Days on Market:
- 101
- Last Refresh:
- Apr 5 at 9:11 pm
Property Features for 61 Cedar #6
General Information
- Standard status
- Active
- Size
- 3,560 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing agent THE PHIPPS TEAM
Listing office COMPASS (401) 274-1644
Listing date Feb 10, 2026
Source Corcoran
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
HighLights
- Over 3500 sq. ft. of versatile, one‑level workspace suitable for various uses.
- Excellent location: one block from Post Road Route 1, public transportation, and Cole Junior High.
- Abundant natural light due to walls of glass on both sides of the center unit.
- Functional layout includes private offices, large reception area, huge general activities space, kitchen, bath, and conference room.
- Ample parking directly in front of the unit and in a common parking lot.
- Impressive architectural details and exposed brick walls create aesthetic intrigue.
Overview
Located at 61 Cedar Avenue, this office condominium offers over 3500 sq ft of single-level workspace. Situated one block from Post Road Route 1 and public transportation, and one block from Cole Junior High, the property benefits from a convenient location. Originally constructed in 1925 and converted into office condominiums in 2000, the center unit features a bright interior with walls of glass on both sides and exposed brick walls. The versatile design includes private offices, a large reception area, a sizable general activities space, a kitchen, a bathroom, and a conference room. Parking is available directly in front of the unit, with additional spaces in the common parking lot. The architectural details of the interior add aesthetic intrigue to the functional space. The space is currently used as administrative offices of a Church and lends itself to various uses, including doctor/medical offices or sales force space.
Financial Insights
Value Estimation Calculated for Healthcare Medical
Conservative
$592.7K
NOI $53,347 @ 9.00% cap · cautious / downside scenario
Moderate
$762.1K
NOI $53,347 @ 7.00% cap · market / base-case scenario
Aggressive
$1.07M
NOI $53,347 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Healthcare Medical
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.1k | $27.00 |
| − Vacancy | −$7.2k | −$2.03 |
| EGI | $88.9k | $24.98 |
| − OpEx | −$35.6k | −$9.99 |
| NOI | $53.3k | $14.99 |
3,560 SF · lease $27.00/SF/yr · vacancy 7.50% · expense 40.00%
Alternative Use Scenarios
Best Use
Healthcare Medical
$762.1K
$666.8K – $889.1K
NOI $53,347 @ 7.0% cap · market cap 7.90%
Second Best
Office B
$624.5K
$546.5K – $728.6K
NOI $43,718 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$891.6K
$780.2K – $1.04M
NOI $62,414 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- East Greenwich
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.4509
- Latitude
- 41.6728
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Spacious office condo with exposed brick, convenient location and parking.
Where is this office units located?
The property is located at 61 Cedar #6 East Greenwich, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Over 3500 sq. ft. of versatile, one‑level workspace suitable for various uses.; Excellent location: one block from Post Road Route 1, public transportation, and Cole Junior High.; Abundant natural light due to walls of glass on both sides of the center unit.
