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    1342 Main St West Warwick, RI 02893
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    Property profile & analytics

    1342 Main St, West Warwick, RI 02893

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    • Commercial real estate
    Off-Market
    Property ID
    US76-0117743
    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 1342 Main St

    Year built
    1920
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a remarkable multi-family property situated on a substantial 11,761 square foot lot at 1342 Main Street, West Warwick, Rhode Island, 02893. The property comprises two buildings, each boasting three stories, and a total of four residential units. Constructed in 1920, this property offers significant potential for both immediate income generation and future development. The convenient location in downtown West Warwick provides easy access to major roadways, facilitating effortless commutes. Nearby amenities include a variety of shopping options, diverse restaurants, and readily available public transportation. Recreational opportunities abound with proximity to parks, a bike path, and the Bald Hill Road area. The asking price for this property is $700,000. This presents a rare chance to acquire a well-situated multi-family property in a thriving Rhode Island community. The property's size and location make it an attractive investment for both seasoned and aspiring real estate investors. The existing units offer immediate rental income potential, while the substantial lot size allows for potential expansion or redevelopment opportunities. This is a truly unique opportunity to own a piece of West Warwick's vibrant landscape.

    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
    -71.5227838
    Latitude
    41.70135

    Comparable in this City

    • Contact for pricing

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      Riverdale Avenue Multifamily Investment Opportunity

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      West Warwick Multifamily Home

      Charming New England home with income potential near local amenities.
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      $1,000,000
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      West Warwick Multifamily Investment Opportunity

      Six-unit apartment building with parking and updated systems.
      30 Potter Ave, West Warwick, RI 02893
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    • New
      $675,000
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      New Construction Multifamily in Warwick

      New construction multifamily property with modern finishes and convenient location.
      10 Walnut St, West Warwick, RI 02893
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    Similar Nearby for Sale

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      Mixed-Use Investment Opportunity

      Mixed-use building with residential and commercial units in Phenix.
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    • $300,000
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      West Warwick Two-Family Home

      Two-family home in desirable location with income potential.
      22 Greene St, West Warwick, RI 02893
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    • $1,350,000

      Riverdale Avenue Multifamily Investment Opportunity

      Turnkey, two-building portfolio with 9 units and strong NOI.
      28 Riverdale Ave, West Warwick, RI 02893
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    • $439,900
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      West Warwick Multifamily Home

      Charming New England home with income potential near local amenities.
      1728 Main St, West Warwick, RI 02893
      View Details
    • New
      $1,000,000
      4,679 SF

      West Warwick Multifamily Investment Opportunity

      Six-unit apartment building with parking and updated systems.
      30 Potter Ave, West Warwick, RI 02893
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    • New
      $675,000
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      New Construction Multifamily in Warwick

      New construction multifamily property with modern finishes and convenient location.
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    Similar Nearby for Lease

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      Land Lease Opportunity on Corner

      Corner lot available for lease with high traffic volume.
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      Laydown Pads for Rent

      Two laydown pads totaling approximately 4.5 acres available for rent.
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      Renovated Office Space Available

      Recently renovated office space featuring hardwood and tile flooring.
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      West Warwick Office/Storage Space

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    • $900 /Mo

      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
      View Details
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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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