Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12 Ft Rd Westerly, RI 02891-5708
    Back to Search
    Property profile & analytics

    12 Ft Rd, Westerly, RI 02891-5708

    View on Map
    • Commercial real estate
    • 468 SF
    Off-Market
    Last Sale May 1, 2025
    $325,000
    Property ID
    US76-0338876
    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 12 Ft Rd

    Year built
    1940
    Construction
    FRAME
    Property type
    Commercial real estate
    APN
    WEST M:185 B:32 L:G U:3
    APU
    WESTM185B32LGU3

    Description

    This exceptional commercial property, located at 12 Fort Road UNIT G-3 in Westerly, Rhode Island, presents a unique investment opportunity. The 88,000 square foot lot houses a two-story, 1940-built building with one unit, offering versatile space suitable for a variety of commercial uses. Its prime location on a busy street in Watch Hill ensures high visibility and significant traffic counts, drawing customers from New York, Connecticut, New Jersey, and Massachusetts. The property's proximity to Rhode Island's resort areas further enhances its appeal. The zoning allows for numerous retail and service businesses, unlocking significant potential. The property includes ample parking for over 40 vehicles, and each commercial unit benefits from separate utilities. This is a rare chance to acquire a well-situated commercial property with substantial upside in a thriving coastal community. The asking price is $295,000. The property is classified as Land, Retail, Office, and Industrial, encompassing various subtypes including Traditional Office, Storefront, Convenience Store, Executive Office, Warehouse, Creative Office, and Farm. This versatile space is ideal for a variety of businesses.

    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
    Westerly
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.8585
    Latitude
    41.3096
    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
    $2,345
    $0.00
    $239,000
    $239,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      325 Post Rd

      Hotels
      325 Post Rd, Westerly, RI 02891
      View Details
    • Value Estimation by Request
      1.19 Acres

      8 Oak St

      COMMERCIAL (GENERAL)
      8 Oak St, Westerly, RI 02891
      View Details
    • Value Estimation by Request

      101 Flr

      Office Spaces
      101 Flr, Westerly, RI 02891
      View Details
    • Value Estimation
      $565,000
      2,260 SF

      665 Atlantic Ave

      SHOW ROOM, WAREHOUSE
      665 Atlantic Ave, Westerly, RI 02891-4335
      View Details
    • Value Estimation
      $1,110,000
      8,378 SF

      145 Atlantic Ave

      SHOW ROOM, WAREHOUSE
      145 Atlantic Ave, Westerly, RI 02891-4300
      View Details
    • Value Estimation by Request
      1,477 SF

      10 Canal St Ste C

      COMMERCIAL CONDOMINUIM
      10 Canal St Ste C, Westerly, RI 02891-1581
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Westerly, RI Business Opportunity

      Established Salon, High Traffic Location
      106 Cross St, Westerly, RI 02891
      View Details
    • $899,000
      13,000 SF

      33 Railroad, Westerly, RI 02891

      Mixed-use properties
      33 Railroad Ave, Westerly, RI 02891
      View Details
    • Contact for pricing

      Atlantic Ocean Beachfront Inn Opportunity

      Beachfront inn with 23 guest rooms and private balconies.
      145 Atlantic Ave Atlantic Ave, Westerly, RI 02891
      View Details
    • Contact for pricing

      Prime Land in Dunn's Corners

      0.92 acres with 200+ feet of frontage on Route 1.
      261 Post Rd, Westerly, RI 02891
      View Details
    • New
      $1,450,000
      2.28 Acres

      Land in Coveted Avondale

      2.28 acres in Westerly, RI, with approvals for six-bedroom house.
      6 Fox Run, Westerly, RI 02891
      View Details
    • Contact for pricing
      200 SF

      Downtown Westerly Commercial Units Available

      Two climate-controlled units in downtown Westerly, suitable for office/retail/storage.
      53 High St, Westerly, RI 02891
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Units for Office/Retail/Storage

      Two 100 SF units available in downtown Westerly.
      53 High St, Westerly, RI 02891
      View Details
    • Contact for pricing

      Westerly Retail Space For Rent

      High-visibility retail space in the heart of Westerly.
      98 Main St, Westerly, RI 02891
      View Details
    • $750 /Mo
      240 SF

      Westerly Office Space For Rent

      Private office spaces available in Westerly, utilities included.
      6 Franklin St, Westerly, RI 02891
      View Details
    • $1,100 /Mo
      800 SF

      Westerly Office/Retail Space For Rent

      800+/- sq ft office/retail space in Westerly, RI.
      101 Franklin St, Westerly, RI 02891
      View Details
    • Contact for pricing
      7,225 SF

      Retail Space Under Development

      Retail space available for lease in Westerly, Rhode Island.
      76 Franklin St, Westerly, RI 02891
      View Details
    • Contact for pricing
      7,600 SF

      Retail Space in Westerly Crossings

      Retail space available in a well-located shopping center.
      24 Airport Rd, Westerly, RI 02891
      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.
    12 Ft Rd
    Westerly, RI 02891-5708
    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

    Thank You for Inquiry
    12 Ft Rd, Westerly, RI, 02891
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!