Medical Office
For Sale
$175,000
725 Reservoir #205, Cranston, RI 02910
Elevator-served second-floor suite offers a reception area, private offices, exam rooms, and on-site parking.
Property Size1,588 SF
Price / SF$110.20
Days on Market119
Property Features for 725 Reservoir #205
General Information
Standard status
Active
Size
1,588 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Floor
2
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$5,217
Amenities
Central air
Central Air Cooling
Central Heating
Gas Heating
Building Details
Year Built
1987
Listing Agency:
RE/MAX PREFERRED
(401) 353-2200
Listed By:
EDWARD WEST · License #C9995
(401) 323-9537
Source:
Corcoran
Added: Jun 30
Changed: Oct 25
Last Checked: Oct 25 at 2:43AM
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
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Investment Insights
Based on property information with market context.
This 1,588-square-foot medical office condominium at 725 Reservoir, Unit 205, is on the building’s second floor and is served by an elevator. The layout includes a waiting and reception area, three exam rooms, three private offices, two restrooms, and storage. The property was built in 1987.
Parking is available at the property. The monthly condominium fee covers water, sewer, master insurance, common-area maintenance, and utilities.
Parking is available at the property. The monthly condominium fee covers water, sewer, master insurance, common-area maintenance, and utilities.
Key Highlights
- 1,588‑square‑foot medical office condominium
- Three exam rooms and three private offices
- Waiting and reception area, two restrooms, and storage
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.
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Property Analytics
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Current Use
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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Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Cranston Animal Hospital — 1119 Park Ave, Cranston, RI 02910
Frequently Asked Questions
What type of property is this?
Medical Office Space - Elevator-served second-floor suite offers a reception area, private offices, exam rooms, and on-site parking.
Where is this medical office space located?
The property is located at 725 Reservoir #205 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‑square‑foot medical office condominium; Three exam rooms and three private offices; Waiting and reception area, two restrooms, and storage
