Multi-Tenant Mixed-Use
For Sale
Contact for pricing
850 Aquidneck Avenue, Middletown, RI 02842
Medical, retail, and professional office uses share a 4.76-acre commercial site with two access points.
Property Size41,490 SF
Lot Size4.76 Acres
Price / SF$128.46
Days on Market165
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Property Features for 850 Aquidneck Avenue
General Information
Standard status
Active
Size
41,490 SF
Lot size
4.76 Acres
Property subtype
Retail, Office, Mixed Use
Occupancy
73%
Investment Type
Value Add
Net Operating Income
$409,021
Additional Details
Road Access
Yes
Building Details
Year Built
1992
Buildings
1
Stories
2
Units
24
Tenancy
Multi
Building Size
41,490 SF
Listing Agency:
Horvath & Tremblay
Listed By:
Bob Horvath · License #CT 756500
Source:
Crexi
Added: May 4
Changed: Oct 4
Last Checked: Oct 14 at 10:58PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Middletown Commons is a 41,490-square-foot, multi-tenant center completed in 1992. The property combines medical, retail, and professional office space within a 4.76-acre parcel, with current leasing at 73.87%. Two access points serve the site, and vacant space remains available for lease-up.
The center occupies Aquidneck Avenue near East Main Street and RI Route 138, within Middletown’s established retail trade area. The surrounding area includes national and local retailers, restaurants, schools, and residential neighborhoods. Downtown Newport is approximately three miles away, Portsmouth is seven miles away, and Downtown Providence is about 35 miles from the property.
The center occupies Aquidneck Avenue near East Main Street and RI Route 138, within Middletown’s established retail trade area. The surrounding area includes national and local retailers, restaurants, schools, and residential neighborhoods. Downtown Newport is approximately three miles away, Portsmouth is seven miles away, and Downtown Providence is about 35 miles from the property.
Key Highlights
- 41,490‑square‑foot center on a 4.76‑acre parcel
- 73.87% leased, with vacant space available for lease‑up
- Mixed tenant configuration spanning medical, retail, and professional office uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$468,144
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,362,880
$9.4M
Cap Rate 7%
$6,687,771
$6.7M
Cap Rate 9%
$5,201,600
$5.2M
Market Conditions
NOI Build-Up for 41,490 SF
Gross rent
$746.8K $18.00/SF
− Vacancy
−$78.0K −$1.88/SF
EGI
$668.8K $16.12/SF
− OpEx
−$200.6K −$4.84/SF
NOI
$468.1K $11.28/SF
Area
Newport County, RI
Vacancy
10.45%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,362,880
Cap Rate 7%
$6,687,771
Cap Rate 9%
$5,201,600
Alternative Uses
Best Use
Healthcare Medical
$8.02M
$7.02M – $9.36M
NOI $561,459 @ 7.0% cap · market cap 10.53%
Second Best
Retail
$6.69M
$5.85M – $7.80M
NOI $468,144 @ 7.0% cap · market cap 8.78%
Theoretical Best
Multifamily LT 5
$9.90M
$8.66M – $11.55M
NOI $692,974 @ 7.0% cap · market cap 13.00%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Medical, retail, and professional office uses share a 4.76-acre commercial site with two access points.
Where is this mixed-use property located?
The property is located at 850 Aquidneck Avenue Middletown, RI.
What is the asking price?
The asking price for this property is $5,330,000.
What are key features of this property?
This property features: 41,490‑square‑foot center on a 4.76‑acre parcel; 73.87% leased, with vacant space available for lease‑up; Mixed tenant configuration spanning medical, retail, and professional office uses
