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Property profile & analytics

101 Franklin St Westerly, RI 02891-3178

  • Showrooms
  • 5,235 SF
  • 0.44 lot acres
OFF-MARKET
Value Estimation
$525,000
Last Sale
Sep 25, 2020
$455,000
Location Intelligence
Property ID
US76-0321723
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.

Current Use by Public Records

  • Eastern Bank / Bank / Atm
  • Findeisen Wealth Management Group, LLC / Financial Institution
  • Morrone Legal / Legal Services
  • Richard Grasso / Psychologist
  • Kimberly Dalton Broker EXP Realty / Real Estate Agent / Service Establishment

Property Details for 101 Franklin St

Year built
1986
Construction
FRAME
Lot size
0.44 lot acres
Property size
5,235 SF
Property type
Showrooms
APN
WEST M:88 B:2
APU
WESTM88B2

Description

This exceptional commercial property, located at 101 Franklin Street, 2nd Floor, Westerly, RI 02891, presents a fantastic leasing opportunity. Situated on a 19,166 square foot lot, this two-story, 1986-built building offers a 1,000 square foot, second-floor office space ideal for various businesses. The unit boasts floor-to-ceiling windows, providing ample natural light, and features four separate offices, a reception area, and a private bathroom. Benefit from prime pylon signage and a backlit street-facing building sign for excellent visibility. Recent building upgrades include a new roof and HVAC system, ensuring comfort and efficiency. Central air conditioning is also included. The property's zoning allows for a variety of retail and service businesses, in addition to office use. Its convenient location offers easy access to I-95, the Connecticut/Rhode Island border, and Westerly's beaches. A first-floor unit of approximately 750 square feet, also with four offices and a private bathroom, is available for lease separately (see MLS #1361055). The asking price for this second-floor space is $1,500. This property is directly across from a popular shopping plaza, ensuring high foot traffic and visibility.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $555,000
  • CAP approach

    CAP return
    Estimation
    6%
    $440,000
    6.5%
    $435,000
    7%
    $420,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $420,000
    Geo Method
    $390,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $440,000
    Retail
    $375,000
    Mixed-Use
    $420,000
    Hospitality
    $415,000
    Educational
    $350,000
    Residential Income
    $435,000
    Energy
    $470,000
    Income-Based Land
    $415,000
    Food Service
    $375,000

Location Insight

  • Map
  • Local Demand
City
Westerly
County
Washington
State
Rhode Island
Longitude
-71.8122
Latitude
41.3608
CBSA code
39300
CBSA name
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$6,107
$374,200
$210,200
$584,400
-
$0.00
$0.00
$0.00
More about this property
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