Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    149 W Main Rd Middletown, RI 02842

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    149 W Main Rd Middletown, RI 02842

    View on Map
    • Commercial land
    • 0.87 lot acres
    For Sale
    $950,000
    View Listing →
    Cleared Land with Utilities For Sale
    $950,000

    Cleared Land with Utilities

    Commercial land with utilities in a high-traffic area.

    149 W Main Road, Middletown, RI 2842
    View Listing
    Property ID
    US76-0294573
    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 land

    Property Details for 149 W Main Rd

    Lot size
    0.87 lot acres
    Zone code
    OBA
    Property type
    Commercial land
    APN
    MIDD M:0108 B:00 L:33
    APU
    MIDDM0108B00L33

    Description

    This exceptional 0.87-acre commercial lot, located at 149 W Main Road in Middletown, Rhode Island, presents a unique redevelopment opportunity. The property boasts 131 feet of frontage along West Main Road and extends approximately 290 feet in depth. Previously occupied by a McDonald's restaurant, the site features two existing drive-thru lanes, two curb cuts, and twelve high-intensity pole lamps. The land is cleared, graded, and environmentally clean, ensuring a streamlined development process. Utilities are readily available, including a well and municipal water, municipal sewer, public gas, and three-phase public electric service. The property is zoned OBA (Office/Business - Traffic Sensitive), reflecting its prime location within Middletown's main commercial corridor, near the intersection of state routes 114 and 138. This strategic location places the property in close proximity to a variety of national retail and professional businesses, as well as significant institutions such as the Naval War College, the Community College of Rhode Island (CCRI) Newport Campus, and Newport Grand. The property is offered for sale at $950,000, and a net-net-net (NNN) land lease option is also available. This presents a compelling investment opportunity for developers seeking a high-visibility site in a thriving commercial area.

    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
    Middletown
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.3014
    Latitude
    41.5096
    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
    $7,030
    $539,800
    $1,800
    $541,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.26 Acres

      Aquidneck Ave

      VACANT COMMERCIAL LAND • 1.26 Acres
      Aquidneck Ave, Middletown, RI 02842
      View Details
    • Value Estimation by Request
      0.19 Acres

      Coddington Hwy

      VACANT COMMERCIAL LAND • 0.19 Acres
      Coddington Hwy, Middletown, RI 02842
      View Details
    • Value Estimation by Request
      2.25 Acres

      34 Vly Rd

      VACANT COMMERCIAL LAND • 2.25 Acres
      34 Vly Rd, Middletown, RI 02842-6329
      View Details
    • Value Estimation
      $1,495,000
      0.89 Acres

      991 Main Rd

      VACANT COMMERCIAL LAND • 1,184 SF
      991 Main Rd, Middletown, RI 02842-6351
      View Details
    • Value Estimation by Request
      0.32 Acres

      1097 Aquidneck Ave

      VACANT COMMERCIAL LAND • 0.32 Acres
      1097 Aquidneck Ave, Middletown, RI 02842
      View Details
    • Value Estimation by Request
      0.17 Acres

      Cres Rd

      VACANT COMMERCIAL LAND • 0.17 Acres
      Cres Rd, Middletown, RI 02842
      View Details

    Similar Nearby for Sale

    • $950,000

      Cleared Land with Utilities

      Cleared, graded land with utilities in commercial area.
      149 W Main Rd, Middletown, RI 02842
      View Details
    • $950,000

      Cleared Land in Commercial Area

      Commercial land with utilities in a high-traffic location.
      149 W Main Rd, Middletown, RI 02842
      View Details
    • $3,999,000

      Middletown Development Opportunity

      Two adjacent businesses with development potential in Middletown.
      116 Aquidneck Ave, Middletown, RI 02842
      View Details
    • Contact for pricing

      Cleared Land with Utilities

      Commercial land with utilities in a high-traffic area.
      149 W Main Rd, Middletown, RI 02842
      View Details
    • $325,000
      0.25 Acres

      Residential Land in Middletown, RI

      Residential land in a premier coastal community, perfect for building.
      Revolution Way, Middletown, RI 02842
      View Details
    • $1,750,000
      1.39 Acres

      Gray Craig Estate Building Lot

      1.39-acre building lot near Second Beach and downtown Newport.
      141 Gray Craig Rd, Middletown, RI 02842
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Middletown Office Space For Rent

      Single office rentals in prime Middletown location near NUWC.
      1272 W Main Rd, Middletown, RI 02842
      View Details
    • $32 SF/Yr

      Retail/Office Space on Main Road

      Freestanding building suitable for retail or office use.
      124 East Main Rd, Middletown, RI 02842
      View Details
    • Contact for pricing

      Renovated Office Suites Available

      Recently renovated office suites in Middletown's Aquidneck Commerce Center.
      809 Aquidneck Ave, Middletown, RI 02842
      View Details
    • $32 SF/Yr
      1,044 SF

      Retail/Office Space on Main Road

      Freestanding building suitable for retail or office use.
      124 East Main Rd, Middletown, RI 02842
      View Details
    • $2,500 /Mo

      Middletown Warehouse For Rent

      3,800 sq ft commercial building ideal for warehouse or distribution.
      1139 Aquidneck Ave, Middletown, RI 02842
      View Details
    • Contact for pricing

      Middletown Office Spaces Available

      Office spaces for rent in Middletown, Rhode Island.
      1259 W Main Rd, Middletown, RI 02842
      View Details
    View Listing
    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.
    149 W Main Rd
    Middletown, RI 02842
    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

    149 W Main Rd, Middletown, RI, 02842

    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!