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Middletown Commons 850 Aquidneck Ave 40,933 SF 76% Leased Office Building Middletown, RI 02842 $5,330,000 ($130.21/SF) 7.67% Cap Rate



Investment Highlights
- Upside Potential
- Proximity to Newport & Portsmouth
- Strategic Location
- Strong Demographics
Executive Summary
Property Facts
Amenities
- 24 Hour Access
- Bus Line
- Controlled Access
- Security System
- Signage
- Central Heating
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
The Allergy and Asthma Centers are a well established, well respected, multi allergist allergy and asthma practice with offices located throughout Rhode Island. They are committed to providing their patients with the best and most up to date allergy and asthma care available. Dr. Russell Settipane, Dr. Robert Settipane and Dr. Alan Gaines treat adults, children and adolescents for a wide range of allergic problems.
Aquidneck Hearing Center operates as the hearing care arm of Ear Nose & Throat Medicine and Surgery Group, a Rhode Island medical practice organized in 2004, with the Aquidneck Hearing Center name filed as a fictitious name in the state record. The practice focuses on audiology and otolaryngology, serving patients with hearing concerns, hearing loss treatment, and hearing aid support. The center provides diagnostic hearing care, hearing aid evaluation, and related ear, nose, and throat services. The business remains active in Middletown, Rhode Island, and continues to present itself as a patient-focused hearing care practice with clinical audiology support.
Coastal Foot and Ankle serves Rhode Island residents with specialized podiatric care. The practice offers treatments for various foot and ankle conditions, including bunions, heel pain, and diabetic foot management. Services extend to pediatric care, addressing children's unique orthopedic needs. Surgical interventions are available for cases requiring operative solutions. The company operates as part of the Southcoast Health Network, providing integrated healthcare services. Coastal Foot and Ankle emphasizes both non-surgical and surgical approaches to improve patients' mobility and quality of life.
Brown University Health began in 1994 through the affiliation of Rhode Island Hospital and The Miriam Hospital. Brown University Health is a not-for-profit academic health system that includes teaching hospitals, community hospitals, behavioral health services, physician practices, and specialty care programs. The network encompasses Rhode Island Hospital and its Hasbro Children's division, The Miriam Hospital, Bradley Hospital, Newport Hospital, Saint Anne's Hospital, Morton Hospital, Gateway Healthcare, and Brown Health Medical Group. Brown University Health works closely with The Warren Alpert Medical School of Brown University and serves communities across Rhode Island and southeastern Massachusetts through inpatient care, outpatient services, and medical education.
Finn & Meehan Wealth Management was formed by John Finn and Sharon Meehan, combining decades of individual experience into a personal investing practice. The company focuses on financial planning, investment planning, estate planning, protection planning, retirement planning, and tax planning, with an emphasis on independent and unbiased advice. Finn & Meehan Wealth Management works in alignment with LPL Financial and serves clients seeking individualized plans that connect financial decisions with personal goals and values.
The practice was established in the mid-2000s as a Rhode Island-based medical group focused on foot and ankle care. The company operates as a podiatry group practice centered on podiatry and podiatric foot and ankle surgery within Rhode Island's health system. Services include care for bunions, hammer toe, flat or high-arched feet, Charcot joints, fractures, and foot or ankle pain and swelling, reflecting a broad medical and surgical foot-and-ankle vertical.
Innerlight Center For Yoga & Meditation began in 1995 under the direction of Kim Chandler, who has long served as the founder and director. The company offers studio classes, virtual classes through Zoom, and private yoga sessions, with programming that also includes meditation and Proprioceptive Writing. Innerlight also runs yoga teacher training, including 200-hour and advanced 300-hour study, along with retreats and immersion events. The business combines movement, meditation, and writing practices into a single wellness-focused service mix for students and teacher trainees.
Dr. Dean Janssen has been providing safe, natural and effective chiropractic care since 1995. He is a graduate of the University of Rhode Island in 1989 and Life Chiropractic College in 1995. Before relocating his family back to Portsmouth in 2003, he had a private practice in Pompano Beach, Florida.
Karns & Kerrison is a privately held law firm founded in 1974. Headquartered in Providence, Rhode Island, the firm also maintains an office in Middletown. It provides legal representation across Rhode Island and Massachusetts, focusing on personal injury, workers' compensation, Social Security disability, and bankruptcy cases. The firm is known for handling complex claims involving traumatic brain injuries, vehicle accidents, and wrongful death. Karns & Kerrison has recovered hundreds of millions of dollars in compensation for clients and is led by a team with over 115 years of combined legal experience.
Law Offices of David F. Fox began as a Rhode Island legal practice in 1988 and has built experience in business law, real estate, zoning and planning, estate planning, civil litigation, personal injury, and criminal law. The firm handles real estate closings, business planning and organization, personal injury and auto accident matters, criminal defense, and traffic violations. The practice extends across Rhode Island state courts, including District Court, Superior Court, and the Rhode Island Supreme Court, serving individuals, expanding corporations, and entrepreneurial businesses. The firm also provides services in real estate transactions, personal injury, criminal law, property disputes, business formation, and estate planning.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
Health Care and Social Assistance | - | - | Triple Net | - | |
|
Health Care and Social Assistance | - | - | Triple Net | - | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Finance and Insurance | - | - | - | - | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Educational Services | - | - | - | - | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Professional, Scientific, and Technical Services | - | - | - | - | |
|
Professional, Scientific, and Technical Services | - | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Office space available on Aquidneck Avenue. .
- Lower Level-Ste B2
- 2,041 SF
- Office
- -
- Now
Office / medical units available
| Space | Size | Space Use | Build-Out | Available |
| Lower Level-Ste B-8 | 1,220 SF | Office | Full Build-Out | Now |
| Lower Level-Ste B1-B | 1,640 SF | Office | Full Build-Out | Now |
| Lower Level-Ste B2 | 2,041 SF | Office | - | Now |
| Lower Level-Ste B4-B7 | 5,088 SF | Office/Medical | Partial Build-Out | Now |
Lower Level-Ste B-8
| Size |
| 1,220 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
Lower Level-Ste B1-B
| Size |
| 1,640 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
Lower Level-Ste B2
| Size |
| 2,041 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
Lower Level-Ste B4-B7
| Size |
| 5,088 SF |
| Space Use |
| Office/Medical |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
Lower Level-Ste B-8
| Size | 1,220 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Lower Level-Ste B1-B
| Size | 1,640 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Office space available on Aquidneck Avenue. .
Lower Level-Ste B4-B7
| Size | 5,088 SF |
| Space Use | Office/Medical |
| Build-Out | Partial Build-Out |
| Available | Now |
Office / medical units available
Property Taxes
| Parcel Number | MIDD-000114-000000-000092C | Improvements Assessment | $1,352,800 |
| Land Assessment | $1,902,000 | Total Assessment | $3,254,800 |





