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    1 River St West Warwick, RI 02893
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    Property profile & analytics

    1 River St, West Warwick, RI 02893

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    • Commercial real estate
    Off-Market
    Property ID
    US76-0414480
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1 River St

    Year built
    1900
    Property type
    Commercial real estate

    Description

    This exceptional 8,642 square foot lot, located at 1 River Street in West Warwick, Rhode Island, presents a unique investment opportunity. The property, zoned for both commercial and residential use, offers significant development potential. Currently featuring a three-story, 1900-built building, the site provides a solid foundation for various projects. While the existing structure is comprised of residential units, the zoning allows for a range of commercial ventures. The property's location in Kent County, zip code 02893, offers convenient access to local amenities and transportation routes. The asking price is $720,000. Note that the existing building, while having previously generated a total monthly rental income of $7,571, requires flood insurance, currently costing $1,500 annually. The property's versatility and prime location make it an attractive prospect for both seasoned investors and developers seeking a foothold in the Rhode Island market. Serious inquiries are encouraged to explore the full potential of this remarkable land parcel. Further details regarding the existing building's condition and potential redevelopment options are available upon request. The property is situated at 41.7217098 latitude and -71.4907474 longitude.

    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
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4907474
    Latitude
    41.7217098

    Comparable in this City

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      Spacious Multi-Family Home with Suite

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      West Warwick Multi-Family Opportunity

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      Three-Unit Townhouse-Style Multifamily

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    Similar Nearby for Sale

    • Contact for pricing
      5,012 SF

      West Warwick Multifamily Investment Opportunity

      Six one-bedroom units with renovation potential in West Warwick.
      7 Lanphear St, West Warwick, RI 02893
      View Details
    • $649,000
      7,917 SF

      Spacious Multi-Family Home with Suite

      Multi-family home with in-law suite or rental potential.
      185 Legris Ave, West Warwick, RI 02893
      View Details
    • Contact for pricing

      New Multifamily Home in Warwick

      New construction multifamily home with modern finishes and convenient location.
      10 Walnut St, West Warwick, RI 02893
      View Details
    • Contact for pricing

      Well-Maintained Two-Family Property

      Two-unit property with private yard and detached two-car garage.
      15 Jodoin St, West Warwick, RI 02893
      View Details
    • New
      $500,000
      3,146 SF

      West Warwick Multi-Family Opportunity

      Large three-family property with development potential in West Warwick.
      18 West St, West Warwick, RI 02893
      View Details
    • New
      $677,900
      2,478 SF

      Three-Unit Townhouse-Style Multifamily

      Well-maintained 3-unit property with separate utilities, in-unit laundry, and a new roof for streamlined management.
      520 Providence St, West Warwick, RI 02893
      View Details

    Similar Nearby for Lease

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      Land Lease Opportunity on Corner

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      Laydown Pads for Rent

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      Renovated Office Space Available

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      West Warwick Office/Storage Space

      Compact, efficient office or storage space in West Warwick.
      7 Weaver St, West Warwick, RI 02893
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      Renovated Retail Space Available

      Fully renovated retail unit with open space and storage.
      703 Providence St, West Warwick, RI 02893
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    • $12 SF/Yr

      West Warwick Versatile Commercial Property

      Multi-unit property ideal for retail, warehouse, office, or showroom.
      770 Main St, West Warwick, RI 02893
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    West Warwick, RI 02893
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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.

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