1300 Highland Corporate Dr Cumberland, RI 02864
- Office Properties & Spaces
- 42,734 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 1300 Highland Corporate Dr
- Property size
- 42,734 SF
- Property type
- Office Properties & Spaces
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cumberland
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.4681
- Latitude
- 41.9958
