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    861 Aquidneck Ave Middletown, RI 02842

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    861 Aquidneck Ave Middletown, RI 02842

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    • Medical Office Space
    Off-Market
    Property ID
    US76-0298006
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 861 Aquidneck Ave

    Year built
    1939
    Property type
    Medical Office Space
    Property subtype
    Residential income homes

    Description

    This exceptional 18,279 square foot mixed-use property, located at 861 Aquidneck Avenue in Middletown, Rhode Island, presents a unique investment opportunity. Built in 1939, this single-story building sits on a sizable lot and offers versatile potential for a variety of uses, including commercial, medical office, executive office, residential, and even farming, thanks to its Limited Business Zone designation. The property has undergone recent significant upgrades, including a new roof, electrical line and box, a newly installed well water tank and city sewer connection, all-new windows, fresh paint, a modern kitchen, and a modern bathroom, as well as a new hot water boiler. Its prime location on Aquidneck Island provides easy access to Rhode Island's beautiful beaches and vibrant attractions. The property's proximity to Newport's waterfront, historic mansions, breweries, wineries, restaurants, cafes, parks, hiking trails, and downtown Newport adds significant value and appeal. This is an ideal opportunity to combine residential and business ventures in a desirable location. The property is zoned for limited business use, allowing for a blend of residential and commercial activities. While the square footage of the building itself is not specified, the expansive lot size offers ample space for development and expansion. This property is ready for immediate occupancy and offers a rare chance to own a piece of Aquidneck Island's thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.2819224
    Latitude
    41.5113935

    Comparable in this City

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      3,200 SF

      Middletown Commercial Properties For Sale

      Two adjacent properties zoned for limited business in Middletown, RI.
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      Mixed-Use Property with Development Potential

      Two buildings with office, restaurant space, and apartment conversion potential.
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      Mixed-Use Property on East Main

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      Turnkey Two-Family Home Near Beach

      Updated two-family home near the beach, ideal for investment.
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      $750,000
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      Remodeled Two-Family Home, Middletown

      Fully remodeled two-family home in Middletown near beaches and Newport.
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    • $3,999,000

      Middletown Development Opportunity

      Two adjacent businesses with development potential in Middletown.
      116 Aquidneck Ave, Middletown, RI 02842
      View Details

    Similar Nearby for Sale

    • $1,500,000
      3,200 SF

      Middletown Commercial Properties For Sale

      Two adjacent properties zoned for limited business in Middletown, RI.
      460 E Main Rd, Middletown, RI 02842
      View Details
    • Contact for pricing
      15,000 SF

      Mixed-Use Property with Development Potential

      Two buildings with office, restaurant space, and apartment conversion potential.
      499 E Main Rd, Middletown, RI 02842
      View Details
    • New
      $985,000
      0.46 Acres

      Mixed-Use Property on East Main

      High-visibility mixed-use property with redevelopment potential in Middletown, RI.
      599 E Main Rd, Middletown, RI 02842
      View Details
    • $1,800,000
      0.25 Acres

      Turnkey Two-Family Home Near Beach

      Updated two-family home near the beach, ideal for investment.
      4 James St, Middletown, RI 02842
      View Details
    • New
      $750,000
      0.31 Acres

      Remodeled Two-Family Home, Middletown

      Fully remodeled two-family home in Middletown near beaches and Newport.
      188 Greene Ln, Middletown, RI 02842
      View Details
    • $3,999,000

      Middletown Development Opportunity

      Two adjacent businesses with development potential in Middletown.
      116 Aquidneck Ave, Middletown, RI 02842
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Middletown Office Space For Rent

      Single office rentals in prime Middletown location near NUWC.
      1272 W Main Rd, Middletown, RI 02842
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    • $32 SF/Yr

      Retail/Office Space on Main Road

      Freestanding building suitable for retail or office use.
      124 East Main Rd, Middletown, RI 02842
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      Renovated Office Suites Available

      Recently renovated office suites in Middletown's Aquidneck Commerce Center.
      809 Aquidneck Ave, Middletown, RI 02842
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    • $32 SF/Yr
      1,044 SF

      Retail/Office Space on Main Road

      Freestanding building suitable for retail or office use.
      124 East Main Rd, Middletown, RI 02842
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      Middletown Office Spaces Available

      Office spaces for rent in Middletown, Rhode Island.
      1259 W Main Rd, Middletown, RI 02842
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      Retail/Office Space with High Visibility

      Retail or office space with frontage on Route 138A.
      850 Aquidneck Ave, Middletown, RI 02842
      View Details
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    Middletown, RI 02842
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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    861 Aquidneck Ave, Middletown, RI, 02842

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