1208 Ocean Rd Narragansett, RI 02882
Showrooms
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Individually Owned
13-yr Hold
Free & Clear
For Lease
1 / 19
$3,875,000
1208 Ocean Rd, Narragansett, RI 02882
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Estimated value (blended)
$3.88M
Range $3.49M – $4.26M (±10%)
Property ID
US76-0133623
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2013
Construction
FRAME
Total area
18,531 SF
Lot
0.47 ac (20,495 SF)
Zoning code
B-A
APN
NARR M:L B:237 L:A
UPID
US76-0133623
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.89M
Comparable Approach
Comparable
$4.98M
Blend (final)
Blend
$3.88M
Owner & transaction history
since 2012
2 recorded transactions
Zoning & alternative use
B-A · Narragansett, RI
Zoning description
This zone is composed of certain land and structures used primarily for the retailing of convenience goods such as groceries and drugs and the furnishing of personal services
General category
COMMERCIAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.88M
Value range
$3.49M – $4.26M
±10% around blend
Estimated value / SF
$209 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
10
$3.49M
blend $3.88M
$4.26M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
18,531 SF
Lot area
0.47 ac
Year built
2013
Stories
3
APN
NARR M:L B:237 L:A
Assessed value
$3,040,000
Annual tax
$38,213
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.89M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.13M
@ 6.5% CAP return
$2.89M
@ 7% CAP return
$2.68M
4
Sales comparison
Partial preview
Sales approach indication
$4.98M
Weighted, 0 comps · none confidence
Evidence
1 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.88M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 20 sales
$239
-13%
Submarket 35 sales
$212
-1%
County 234 sales
$205
+2%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $209/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.04M
Move the market yield to see immediate price impact.
Value / SF
$164
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$192k
$3.83M
$2.74M
$2.13M
$213k
$4.26M
$3.04M
$2.36M
$234k
$4.68M
$3.34M
$2.60M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,213
Tax year 2023
Assessed value
$3,040,000
Assessed 2023
Previous assessed
$3,040,000
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$541,200
Assessed improvement
$2,498,800
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
2013
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
16
Bathrooms
19
Total area
18,531 SF
Lot
0.47 ac (20,495 SF)
Zoning code
B-A
APN
NARR M:L B:237 L:A
UPID
US76-0133623
Jurisdiction
NARRAGANSETT
Zoning & alternative use
B-A · Narragansett, RIZoning B-A · permitted uses
B-A · Narragansett, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
This zone is composed of certain land and structures used primarily for the retailing of convenience goods such as groceries and drugs and the furnishing of personal services
General category
COMMERCIAL
Building & site characteristics
From public records
Year built
2013
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
16
Bathrooms
19
Lot
0.47 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
B-A
COMMERCIAL
Jurisdiction
Narragansett, RI
Recorded code
B-A
Official district
B-A
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B-A in Narragansett, RI.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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