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    Property profile & analytics

    1218 Main St West Warwick, RI 02893-4827

    • Showrooms
    • 29,084 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $4,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0108915
    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

    • FedEx Drop Box / Postal Service / Courier Service
    • Centreville Bank / Bank / Loan Service
    • Jennifer A. Kosh / Bank / Loan Service
    • Veronica Martinez / Bank / Loan Service
    • Nayeli G. Munrayos / Bank / Loan Service

    Property Details for 1218 Main St

    Year built
    1928
    Lot size
    0.13 lot acres
    Property size
    29,084 SF
    Zone code
    B
    Property type
    Showrooms
    APN
    WWAR 016-0424-0-000
    APU
    WWAR01604240000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,990,000
      6.5%
      $5,525,000
      7%
      $5,130,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,929,000
      Market price range: $2.06M - $6.92M
      AI Estimate
      $3,828,000
      Market price range: $1.74M - $5.03M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,360,000
      Current use
      OFFICE BUILDING
      $6,540,000
      Change: +50% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,490,000
      Change: -20% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5234
    Latitude
    41.7055
    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
    2023
    $76,866
    $18,000
    $2,432,300
    $2,450,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,675,000
      40,716 SF

      186 Providence St

      SHOW ROOM, WAREHOUSE • 40,716 SF
      186 Providence St, West Warwick, RI 02893-2508
      View Details
    • Value Estimation
      $4,960,000
      24,760 SF

      525 Quaker Ln

      SHOW ROOM, WAREHOUSE • 24,760 SF
      525 Quaker Ln, West Warwick, RI 02893-7623
      View Details
    • Value Estimation
      $780,000
      15,788 SF

      60 Pulaski St

      SHOW ROOM, WAREHOUSE • 15,788 SF
      60 Pulaski St, West Warwick, RI 02893
      View Details
    • Value Estimation
      $13,250,000
      60,324 SF

      14 James P Murphy Ind Hwy

      SHOW ROOM, WAREHOUSE • 60,324 SF
      14 James P Murphy Ind Hwy, West Warwick, RI 02893-2383
      View Details
    • Value Estimation by Request
      13,016 SF

      1190 Main St

      SHOW ROOM, WAREHOUSE • 13,016 SF
      1190 Main St, West Warwick, RI 02893-4826
      View Details
    • Value Estimation by Request
      2,160 SF

      400 Providence St

      SHOW ROOM, WAREHOUSE • 2,160 SF
      400 Providence St, West Warwick, RI 02893-2023
      View Details

    Similar Nearby for Sale

    • $1,099,900
      0.31 Acres

      West Warwick Investment Opportunity

      Two investment properties with a profitable restaurant and medical office.
      923 Main St, West Warwick, RI 02893
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      West Warwick Multi-Business Property

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      1,640 SF

      Refreshed Commercial Space, West Warwick

      Versatile commercial space on a high-visibility corner lot.
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    • $479,000
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      Main Street Retail Opportunity

      Versatile commercial property on Main Street available for sale.
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    • $1,785,621
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      Family Dollar Net Lease RI

      8,400 SF Retail Investment, 8% Cap Rate
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      West Warwick Restaurant & Land

      Prime RI location, established business
      52 Providence St, West Warwick, RI 02893
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    Similar Nearby for Lease

    • Contact for pricing
      1,800 SF

      Retail Pad Sites For Lease

      Outparcels available for lease with high traffic counts.
      510 Quaker Ln, West Warwick, RI 02893
      View Details
    • $1,300 /Mo
      1,600 SF

      Versatile Space in West Warwick

      Adaptable 1,600 SF space suitable for retail, foodservice, or warehouse.
      27 Pike St, West Warwick, RI 02893
      View Details
    • $10 SF/Yr
      7,203 SF

      West Warwick Warehouse Space Available

      Flexible Industrial Space for Lease in RI
      86 Pulaski St, West Warwick, RI 02893
      View Details
    • Contact for pricing
      100,000 SF

      Industrial Build-to-Suit Opportunity

      Industrial spaces for lease, customizable to tenant specifications.
      98 Lacroix Dr, West Warwick, RI 02893
      View Details
    • Contact for pricing

      Laydown Pads for Rent

      Two laydown pads totaling approximately 4.5 acres available for rent.
      1600 Division Rd, West Warwick, RI 02893
      View Details
    • Contact for pricing
      2,745 SF

      Class A Office Space Available

      High-quality office complex with easy highway access and professional management.
      1350 Division Rd, W Warwick, RI 02893
      View Details
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    1218 Main St
    West Warwick, RI 02893-4827
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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.

    More about this property
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