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    597 County Rt. 2 Trl Exeter, RI 02822
    Property profile & analytics

    597 County Rt. 2 Trl Exeter, RI 02822

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    • Commercial real estate
    • 1,000 SF
    • 2.17 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 597 County Rt. 2 Trl

    Year built
    2024
    Lot size
    2.17 lot acres
    Property size
    1,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 1,000 sq ft commercial garage condominium, located at 597 South County (Rt. 2) Trail Unit 104, Exeter, RI, is part of the South Trail Commerce Center's Phase I development. Boasting a prime location on a 2.17-acre lot, this unit offers a secure and stylish space ideal for various uses, including contractor trades, commercial businesses, showrooms, warehousing, and distribution. The unit features fully insulated walls and ceilings, a finished interior, a private restroom, 200-amp electric service, and a 14' x 14' overhead door with an electric opener. Perfect for storing automobiles, boats, RVs, and more, this unit provides ample space and functionality. Immediate or 30-day occupancy is available. Monthly condo association fees are $160, encompassing building insurance, exterior maintenance, snow removal, and more. Bank financing is an option. Real estate taxes are estimated at $2,750 annually. Optional upgrades include loft/office space, central AC, backup generators, and custom floor finishes. A larger 2,000 sq ft unit is also available. Phase II construction is planned for late 2025. One unit is currently available for annual lease. Showings are by appointment only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Exeter
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.5533
    Latitude
    41.524

    Comparable in this City

    • Value Estimation
      $700,000
      2,940 SF

      750 County Trl

      SHOW ROOM, WAREHOUSE • 2,940 SF
      750 County Trl, Exeter, RI 02822-3404
      View Details
    • Value Estimation by Request
      860 SF

      220 Yawgoo Vly Rd

      COMMERCIAL (GENERAL) • 860 SF
      220 Yawgoo Vly Rd, Exeter, RI 02822
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    • Value Estimation
      $7,380,000
      23,840 SF

      251 Main St

      SHOW ROOM, WAREHOUSE • 23,840 SF
      251 Main St, Exeter, RI 02822-3531
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    • Value Estimation by Request
      1,305 SF

      530 Nooseneck Hl Rd

      SHOW ROOM, WAREHOUSE • 1,305 SF
      530 Nooseneck Hl Rd, Exeter, RI 02822-2301
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    • Value Estimation by Request
      1,650 SF

      597 County Rt. 2 Trl

      Commercial real estate • 1,650 SF
      597 County Rt. 2 Trl, Exeter, RI 02822
      View Details
    • Value Estimation by Request
      812 SF

      400 County Trl Ste A206

      COMMERCIAL CONDOMINUIM • 812 SF
      400 County Trl Ste A206, Exeter, RI 02822-3540
      View Details

    Similar Nearby for Sale

    • $399,000
      1,650 SF

      Exeter Commercial Condo - Prime Location

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    • Contact for pricing
      2,150 SF

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      Ground-level storage unit with 15 ft ceilings for lease.
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      Exeter Land For Sale

      Corner lot in Business District, suitable for cannabis use.
      503 South County Trl, Exeter, RI 02822
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    • $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
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    • $269,000

      South Trail Commerce Center Units

      New Exeter, RI Commercial Condos
      597 County Rt. 2 Trl, Exeter, RI 02822
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    Similar Nearby for Lease

    • Contact for pricing

      New Flex Spaces For Rent

      Brand new, versatile flex spaces suitable for various commercial uses.
      597 South County Trl, Exeter, RI 02822
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    • $16 SF/Yr
      1,600 SF

      Exeter Private Office Spaces

      Six private offices for lease in high-traffic Exeter location.
      567 South County Trl, Exeter, RI 02822
      View Details
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    Exeter, RI 02822
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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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