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    Block Island Land Opportunity
    $1,895,000
    1.90 Acres

    Block Island Land Opportunity

    1.9-acre lot with ocean views and septic approval.

    Mohegan Trl, Block Island, RI 02807
    View details
    Newport Commercial Condo For Sale
    $335,000

    Newport Commercial Condo For Sale

    Ideally situated commercial condo in Newport's bustling commercial scene.

    64 Halsey St, Newport, RI 02840
    View details
    Two Acre Residential Lot
    $389,900
    2.00 Acres

    Two Acre Residential Lot

    Two-acre lot approved for a four-bedroom dwelling.

    331 Congdon Hill Rd, North Kingstown, RI 02874
    View details
    Exeter Land with Pond Views
    $185,000
    1.17 Acres

    Exeter Land with Pond Views

    1.17-acre lot with well and septic system in place.

    213 Hallville Rd, Exeter, RI 02822
    View details
    Block Island Two-Family Home
    $2,295,000
    0.28 Acres

    Block Island Two-Family Home

    Versatile home with income potential in prime location.

    557 Center Rd, Block Island, RI 02807
    View details
    Ready-to-Build Block Island Acreage
    $1,495,000
    4.57 Acres

    Ready-to-Build Block Island Acreage

    4.57 acre parcel ready for construction on Block Island.

    194-3 Pilot Hill Rd, Block Island, RI 02807
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    Block Island Land with Views
    $1,200,000
    0.36 Acres

    Block Island Land with Views

    Residential land near shops, beaches, and restaurants.

    256-1 High St, Block Island, RI 02807
    View details
    Gray Craig Estate Building Lot
    $1,750,000
    1.39 Acres

    Gray Craig Estate Building Lot

    1.39-acre building lot near Second Beach and downtown Newport.

    141 Gray Craig Rd, Middletown, RI 02842
    View details
    Tradesmen Center Commercial Condo Package
    $975,000

    Tradesmen Center Commercial Condo Package

    Three commercial condo units in Newport's Tradesmen Center.

    64 8, Newport, RI 02840
    View details
    Vacant Lot in Conanicut Park
    $325,000
    0.24 Acres

    Vacant Lot in Conanicut Park

    Vacant lot with septic permit in quiet Jamestown neighborhood.

    Circuit Ave, Jamestown, RI 02835
    View details
    Turn-Key 12-Unit Residential Property
    $1,820,000

    Turn-Key 12-Unit Residential Property

    Well-maintained 12-unit residential property with recent upgrades and revenue streams.

    212 Washington St, West Warwick, RI 02893
    View details

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    Lila Delman Compass
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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
    Lila Delman Compass
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