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    367 Child St Warren, RI 02885

    View on Map
    Sponsored
    For Sale
    $1,499,000

    COMMERCIAL - Colonial, Victorian - Warren, RI

    Type:Apartment
    Lot size:
    0.84 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 7 at 3:06 am

    Property Features for 367 Child St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    VB
    Parking
    40
    Lot size
    0.84 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Heat Pump (Heating), Baseboard
    Cooling system
    Ductless, Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    1
    Number of units
    6
    Building materials
    Frame
    Architectural style
    Colonial, Victorian

    We can help!

    Listing Contact
    Michael Russo
    Michael Russo

    RI Real Estate Services (401) 465-0417

    Listing agent Michael Russo (401) 465-0417

    Listing date Mar 6, 2026

    MLS# 1406004

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Warren RI Investment Opportunity

    Located in the heart of Warren, Rhode Island, this investment opportunity features two parcels comprising five buildings, a vacant lot, a detached garage, ample parking, and excess land. The first parcel at 367 Child Street includes a two-unit commercial building, previously used as a retail storefront and a bar. The bar has expansion potential. 373 Child Street is a two-family residential home, with each unit featuring two bedrooms and one bathroom. 377 Child Street is a mixed-use building with a commercial unit on the first floor, most recently used as an office, and a two-bedroom, one-bathroom residential unit on the second floor. The second parcel includes 388 Child Street, an attractive three-family Victorian with sizable two- to three-bedroom units on the first and second floors, and a one-bedroom unit on the third floor. 384 Child Street is a Colonial with soaring ceilings and period details, offering four bedrooms and awaiting restoration. The vacant lot to the left of 384 Child Street has a curb cut and available public utilities, potentially suitable for a single or two-family home. There is also excess land area behind the existing homes for a potential cottage, ADU, or garage. The buildings and units feature separate utilities and young roofs. The total lot size is 0.84 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.269238
    Latitude
    41.729125

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-property purchase opportunity in the heart of Warren, Rhode Island.
    Where is this mixed-use property located?
    The property is located at 367 Child St Warren, RI.
    What is the asking price?
    The asking price for this property is $1,499,000.
    What are key features of this property?
    This property features: - Value-add multi-property purchase opportunity with 5 buildings, a vacant lot, and a detached garage across 2 parcels.; - Unique vintage bar space in one commercial unit, ready to reopen or convert to a speakeasy with expansion potential.; - Vacant lot with curb cut and available utilities, suitable for building a single or two-family home.
    (401) 885-5400
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    367 Child St Warren, RI 02885
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    Warren, RI 02885
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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
    367 Child St Warren, RI 02885
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    We can help!
    Listing Contact
    Michael Russo
    Michael Russo
    Real Estate License ID: REB.0017244
    (401) 885-5400 (401) 465-0417
    Learn more
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