Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    191 2nd Ave Warwick, RI 02888-1155

    • Industrial properties
    • 3,740 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    4.7%
    Industrial properties
    Location Intelligence
    Property ID
    US76-0133162
    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.

    Current Use by Public Records

    • True Scent Candles / Candle Store
    • Microplastic Free Systems and Safety / Food And Beverage Exporter
    • Remedion / Food Processing Company

    Property Details for 191 2nd Ave

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    3,740 SF
    Zone code
    LI
    Property type
    Industrial properties
    APN
    WARW M:286 B:0308 L:0000
    APU
    WARWM286B0308L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $615,000
      6.5%
      $570,000
      7%
      $530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $592,000
      Market price range: $386k - $749k
      AI Estimate
      $271,000
      Market price range: $122k - $372k

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.426
    Latitude
    41.7589
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,766
    $49,500
    $223,000
    $272,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $315,000
      187 SF

      319 Warwick Ave

      CONDOMINIUMS (INDUSTRIAL) • 187 SF
      319 Warwick Ave, Warwick, RI 02888
      View Details
    • Value Estimation by Request
      5,302 SF

      1119 Post Rd

      Individual retail properties • 5,302 SF
      1119 Post Rd, Warwick, RI 02888
      View Details
    • Value Estimation by Request
      22,500 SF

      80 Cypress St

      INDUSTRIAL (GENERAL) • 22,500 SF
      80 Cypress St, Warwick, RI 02888-2119
      View Details
    • Value Estimation
      $395,000
      4,513 SF

      300 Lincoln Ave

      INDUSTRIAL (GENERAL) • 4,513 SF
      300 Lincoln Ave, Warwick, RI 02888-3030
      View Details
    • Value Estimation
      $835,000
      22,294 SF

      124 Maple St

      INDUSTRIAL (GENERAL) • 22,294 SF
      124 Maple St, Warwick, RI 02888-2131
      View Details
    • Value Estimation
      $1,185,000
      47,486 SF

      53 Venturi Ave

      INDUSTRIAL (GENERAL) • 47,486 SF
      53 Venturi Ave, Warwick, RI 02888-1515
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Warwick RI Multi-Use Property

      Prime Warwick location, 2 buildings, ample parking.
      627 Warwick Ave, Warwick, RI 02888
      View Details
    • $799,000

      Warwick RI Multi-Unit Commercial Building

      Five-unit commercial building, high-traffic location.
      2121 Elmwood Ave, Warwick, RI 02888
      View Details
    • $900,000

      Post Road Commercial Property

      Restaurant & Office Space, Warwick, RI
      1278 Post Rd, Warwick, RI 02888
      View Details
    • $679,900
      7,500 SF

      Commercial Building on High-Traffic Route

      Five-unit commercial building with warehouse, retail, and office spaces.
      2121 Elmwood Ave, Warwick, RI 02888
      View Details
    • $686,000
      3,430 SF

      Industrial Building with Three Units

      Three-unit industrial building near major roadways, Warwick, Rhode Island.
      262 Washington St, Warwick, RI 02888
      View Details
    • $250,000

      Thriving Warwick Pizza Restaurant

      Established eatery, seller financing available.
      1279 Post Rd, Warwick, RI 02888
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,186 SF

      Industrial Building on Jefferson Blvd

      16,186 SF industrial building with redevelopment potential.
      50 Jefferson Blvd, Warwick, RI 02888
      View Details
    • $10 SF/Yr
      16,500 SF

      Warwick Flex Office Space

      16,500 SF flex office space in excellent condition.
      30 Jefferson Park Rd, Warwick, RI 02888
      View Details
    • $16 SF/Yr
      1,500 SF

      Renovated Flex Space Available

      Recently renovated flex space with overhead door and high ceilings.
      5800 Post Rd, East Greenwich, RI 02888
      View Details
    • $725 /Mo
      600 SF

      Warwick Office/Retail Space Available

      600 SF office or retail space for rent.
      895 Post Rd, Warwick, RI 02888
      View Details
    • Contact for pricing
      25,906 SF

      Retail Space in East Greenwich

      Retail property in affluent East Greenwich, Rhode Island.
      5600 Post Rd, East Greenwich, RI 02888
      View Details
    • $16 SF/Yr
      1,500 SF

      High-Traffic Retail/Office Space Available

      1500 SF retail/office space on high-traffic Post Road.
      1255 Post Rd, Warwick, RI 02888
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    191 2nd Ave
    Warwick, RI 02888-1155
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.