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    Putnam Pike Glocester, RI 02814
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    Putnam Pike Glocester, RI 02814

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    • Commercial real estate
    • 63.07 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Putnam Pike

    Year built
    2024
    Lot size
    63.07 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 63.07-acre property in Glocester, Rhode Island, presents a significant commercial development opportunity. Currently zoned partially residential and partially business, a pending application seeks to reclassify the entire parcel for 100% business use, potentially yielding over 30 individual business-zoned lots. Detailed survey and preliminary engineering/subdivision plans are already completed and available for review. The property's versatility is further enhanced by its existing infrastructure, currently supporting heavy machinery operations. This suggests existing utilities and access points suitable for future development. The substantial acreage offers ample space for a variety of commercial ventures, from light industrial to retail, making it an attractive investment for developers and entrepreneurs alike. The seller is open to considering partial owner financing for qualified buyers, making this a particularly compelling opportunity. Please note that access to the property is restricted

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glocester
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5794
    Latitude
    41.8819

    Comparable in this City

    • Value Estimation by Request

      Putnam Pike

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      0 Putnam Pike, Smithfield, RI 02814
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      689 Putnam Pke Pike

      Mixed-use properties
      689 Putnam Pke Pike, Glocester, RI 02814
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    • Value Estimation by Request
      2.03 Acres

      1151 Putnam Pike, Unit 1153

      COMMERCIAL (GENERAL) • 2.03 Acres
      1151 Putnam Pike, Chepachet, RI 02814-7747
      View Details
    • Value Estimation by Request
      7,855 SF

      15 Money Hl Rd

      SHOW ROOM, WAREHOUSE • 7,855 SF
      15 Money Hl Rd, Chepachet, RI 02814-1368
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    • Value Estimation by Request
      2,509 SF

      21 Money Hl Rd

      SHOW ROOM, WAREHOUSE • 2,509 SF
      21 Money Hl Rd, Chepachet, RI 02814-1304
      View Details
    • Value Estimation by Request
      4,660 SF

      660 Putnam Pike

      SHOW ROOM, WAREHOUSE • 4,660 SF
      660 Putnam Pike, Chepachet, RI 02814-1458
      View Details

    Similar Nearby for Sale

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      63 Acres Zoned Land

      63 acres of land partially zoned residential and business.
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    • $1,590,000
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      Glocester Land with Business Potential

      63+ acres in Glocester, RI, with business zoning potential.
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    Glocester, RI 02814
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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
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