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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    597 County Rt. 2 Trl Exeter, RI 02822

    • Office Properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 597 County Rt. 2 Trl

    Year built
    2024
    Property type
    Office Properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial garage condominium, part of the South Trail Commerce Center in Exeter, Rhode Island, presents a unique investment opportunity. Located at 597 South County Trail, Unit 104, this 2024-built property boasts 94,525 square feet of land encompassing three single-story buildings. The unit itself offers a secure and stylish space, perfect for various uses including contractor trade, showroom, warehouse, or distribution. Features include finished walls and ceilings, a private restroom, 200-amp electric service, and a 14' x 14' overhead door with an electric opener. The low monthly condo association fee of $160 includes building insurance, exterior maintenance, and snow removal. Bank financing is available, and estimated annual property taxes are $2,750. This is one of the few remaining units from Phase I, offering immediate or 30-day occupancy. Additional options, such as loft/office space, central AC, backup generators, and custom floor finishes, are available at an extra cost. A larger space (2,000 sq ft) is also available. Showings are by appointment only. Phase II construction is planned for late 2025. Asking price is $245,000.

    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
    -71.6317
    Latitude
    41.5767

    Comparable in this City

    • Value Estimation by Request

      597 County Rt. 2 Trl

      Individual retail properties
      597 County Rt. 2 Trl, Exeter, RI 02822
      View Details
    • Value Estimation by Request

      503 County Trl

      Individual retail properties
      503 County Trl, Exeter, RI 02822
      View Details
    • Value Estimation by Request

      503 County Trl South County Trl

      Individual retail properties
      503 County Trl South County Trl, Exeter, RI 02822
      View Details
    • 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
      View Details
    • Value Estimation
      $7,380,000
      23,840 SF

      251 Main St

      SHOW ROOM, WAREHOUSE • 23,840 SF
      251 Main St, Exeter, RI 02822-3531
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Oak Hill Village: Exeter, RI

      Prime Exeter Retail/Industrial Complex
      567 County Trl, Exeter, RI 02822
      View Details
    • Contact for pricing

      Oak Hill Village: Exeter, RI

      Prime Mixed-Use Property: High-Growth Location.
      567 County Trl, Exeter, RI 02822
      View Details
    • $269,000

      South Trail Commerce Center Units

      New Exeter, RI Commercial Condos
      597 County Rt. 2 Trl, Exeter, RI 02822
      View Details
    • Contact for pricing

      Exeter, RI Mixed-Use Commercial Property

      Prime Exeter location, 501,811 sq ft lot, 3 buildings.
      567 County Trl, Exeter, RI 02822
      View Details
    • $225,000

      Exeter Restaurant/Bar Opportunity

      Prime Exeter location, 0.85-acre lot.
      503 County Trl, Exeter, RI 02822
      View Details
    • $225,000

      Exeter Restaurant/Bar Opportunity

      Prime Exeter location, 0.85-acre lot.
      503 County Trl South County Trl, Exeter, RI 02822
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,330 SF

      Exeter Private Office Spaces

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

      New Flex Spaces Available

      Brand new, fully equipped flex spaces suitable for various commercial uses.
      597 S County Trl, Exeter, RI 02822
      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.
    597 County Rt. 2 Trl
    Exeter, RI 02822
    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.