Second-Floor Medical Office
For Sale
$175,000
725 Reservoir Ave, Cranston, RI 02910
Medical layout includes reception, exam rooms, private offices, restrooms, and storage.
Property Size1,588 SF
Price / SF$110.20
Days on Market85
Property Features for 725 Reservoir Ave
General Information
Standard status
Active
Size
1,588 SF
Elevators
Yes
Additional Details
Floor
2
Utilities to Site
Yes
Building Details
Year Built
1987
Listing Agency:
RE/MAX Preferred
Listed By:
Edward West · License #C9995
(401) 353-2200
Source:
Alpernandmesenbourg
Added: Jul 22
Changed: Oct 11
Last Checked: Oct 7 at 1:43PM
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 RE/MAX Preferred
Investment Insights
Based on property information with market context.
This 1,588-square-foot medical office condominium is configured for clinical and administrative functions, with a generous reception and waiting area, 3 exam rooms, 3 private offices, 2 restrooms, and additional storage. The suite is located on the second floor of a 1987-built property and is accessible by elevator.
The condominium is at 725 Reservoir Avenue in Cranston, Rhode Island, with 10 parking spaces available. The monthly condominium fee covers water, sewer, master insurance, common-area maintenance, and utilities, providing a defined structure for ongoing building services.
The condominium is at 725 Reservoir Avenue in Cranston, Rhode Island, with 10 parking spaces available. The monthly condominium fee covers water, sewer, master insurance, common-area maintenance, and utilities, providing a defined structure for ongoing building services.
Key Highlights
- 1,588 SF medical office condominium
- 3 exam rooms and 3 private offices
- Large reception and patient waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,387
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,740
$307.7K
Cap Rate 7%
$219,814
$219.8K
Cap Rate 9%
$170,967
$171.0K
Market Conditions
NOI Build-Up for 1,588 SF
Gross rent
$28.6K $18.00/SF
− Vacancy
−$2.9K −$1.85/SF
EGI
$25.6K $16.15/SF
− OpEx
−$10.3K −$6.46/SF
NOI
$15.4K $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%
$307,740
Cap Rate 7%
$219,814
Cap Rate 9%
$170,967
Alternative Uses
Best Use
Office B
$293.2K
$256.6K – $342.1K
NOI $20,526 @ 7.0% cap · market cap 11.73%
Second Best
Healthcare Medical
$219.8K
$192.3K – $256.5K
NOI $15,387 @ 7.0% cap · market cap 8.79%
Theoretical Best
Multifamily LT 5
$377.7K
$330.5K – $440.7K
NOI $26,441 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02910, RI
21,907
Population
9,319
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
90%
High-School Grad
3.4 sq mi
ZIP Area
6,443
Density / Sq Mi
$85,909
Median Household Income
$47,538
Median Earnings
$1,385
Median Rent
$302,400
Median Home Value
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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 - Medical layout includes reception, exam rooms, private offices, restrooms, and storage.
Where is this medical office space located?
The property is located at 725 Reservoir Ave Cranston, RI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,588 SF medical office condominium; 3 exam rooms and 3 private offices; Large reception and patient waiting area
