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    1300 Highland Corporate Dr Cumberland, RI 02864

    For Sale
    Contact for pricing

    Triple-net leased office condos, high NOI.

    Property size:
    42,734 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional Class A office condominium building, situated in a CVS-anchored office park in Cumberland, Rhode Island, presents a compelling investment opportunity. The property encompasses 42,734 square feet of rentable space across three stories within a single building, constructed in 2004. It sits on approximately 4.94 acres of land and includes 189 parking spaces, ensuring ample convenience for tenants and visitors. The property is currently operating under a modified gross lease structure with multiple tenants, generating a substantial net operating income (NOI) of $506,428 annually. The building benefits from a professionally managed structure and is strategically located directly off Route 99, just north of the intersection of I-295 and Route 146, providing excellent accessibility and visibility. The estimated annual property taxes are $104,271. This stabilized investment is offered as a single entity, making it an attractive acquisition for investors seeking a high-performing, well-located office property in a thriving market. The property's location within a CVS-anchored office park further enhances its desirability and stability. This is a rare opportunity to acquire a substantial, well-maintained office complex with a proven track record of strong financial performance.

    Property Features for 1300 Highland Corporate Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    42,734 SF
    Class
    A

    Building Details

    Buildings
    1
    Stories
    3

    HighLights

    • Class A, stabilized office condominium building in a CVS‑anchored office park.
    • 42,734 rentable square feet across three stories in a single building.
    • Modified gross lease structure with multi‑tenant occupancy.
    • Strong net operating income (NOI) of $506,428.
    • Ample parking with 189 spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4680609
    Latitude
    41.9957628

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    FAQs

    What type of property is this?
    Office Property / Space - Triple-net leased office condos, high NOI.
    Where is this office property / space located?
    The property is located at 1300 Highland Corporate Dr Cumberland, RI.
    What are key features of this property?
    This property features: Class A, stabilized office condominium building in a CVS-anchored office park.; 42,734 rentable square feet across three stories in a single building.; Modified gross lease structure with multi-tenant occupancy.
    (401) 331-9300
    Request Owner's contact information
    1300 Highland Corporate Dr Cumberland, RI 02864
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1300 Highland Corporate Dr Cumberland, RI 02864
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