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Investment Highlights

  • Upside Potential
  • Proximity to Newport & Portsmouth
  • Strategic Location
  • Strong Demographics

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee simple interest in Middletown Commons, a multi-tenant medical, retail and professional office center located at 850 Aquidneck Avenue in Middletown, Rhode Island (the “Property”). Middletown Commons was constructed in 1992 and is improved by a 41,490 square foot center on a large 4.76-acre parcel of land. The Property is 73.87% leased and offers significant upside through the lease-up of the vacant space. The Property offers a complimentary mix of tenants that serve the needs of the area residents. Middletown Commons benefits from a prime location along Aquidneck Avenue, one of the town’s primary commercial corridors, offering excellent frontage, visibility, and two convenient points of access. Positioned near the intersection with East Main Street (RI Route 138), the Property sits in the heart of Middletown’s retail trade area. The site is surrounded by a strong mix of national and local retailers, restaurants, schools, and established residential neighborhoods, generating consistent consumer traffic and supporting a stable built-in customer base. Located on Aquidneck Island, Middletown Commons is approximately three miles from Downtown Newport, seven miles from Portsmouth, and about 35 miles from Downtown Providence, providing strong connectivity to the island’s primary employment, tourism, and population centers. With its strategic placement within a well-established commercial corridor, the Property is well positioned to benefit from both local demand and regional visitor traffic.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
40,933 SF
Building Class
C
Year Built
1992
Price
$5,330,000
Price Per SF
$130.21
Cap Rate
7.67%
NOI
$409,021
Percent Leased
76%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
20,466 SF
Slab To Slab
10’
Building FAR
0.20
Lot Size
4.76 AC
Zoning
LBA

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
  • Health Care and Social Assistance
  • -
  • -
  • Triple Net
  • -

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.

  • Health Care and Social Assistance
  • -
  • -
  • Triple Net
  • -

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.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

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.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

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.

  • Finance and Insurance
  • -
  • -
  • -
  • -

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.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

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.

  • Educational Services
  • -
  • -
  • -
  • -

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.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

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.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -
  • -

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.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -
  • -

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
  • 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

Office space available on Aquidneck Avenue. .

  • Lower Level-Ste B2
  • 2,041 SF
  • Office
  • -
  • Now
  • Lower Level-Ste B4-B7
  • 5,088 SF
  • Office/Medical
  • Partial Build-Out
  • 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

Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100

Property Taxes

Property Taxes

Parcel Number
MIDD-000114-000000-000092C
Land Assessment
$1,902,000
Improvements Assessment
$1,352,800
Total Assessment
$3,254,800
  • Listing ID: 40393650

  • Date on Market: 5/4/2026

  • Last Updated:

  • Address: 850 Aquidneck Ave, Middletown, RI 02842

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