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

    151 Centerville Rd Warwick, RI 02886-4335

    • Showrooms
    • 5,168 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2025
    $600,000
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0022006
    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

    • Crossman Engineering Inc / Engineer / Civil Engineer

    Property Details for 151 Centerville Rd

    Year built
    1983
    Construction
    FRAME
    Lot size
    0.50 lot acres
    Property size
    5,168 SF
    Zone code
    O
    Property type
    Showrooms
    APN
    WARW M:246 B:0254 L:0000
    APU
    WARWM246B0254L0000

    Description

    This exceptional 5,440-square-foot executive office building, located at 151 Centerville Road in Warwick, Rhode Island, presents a compelling investment opportunity. Constructed in 1983, this Class B property sits on a 0.664-acre lot and offers a versatile layout spread across two levels, ideal for a variety of business configurations. The building's modern and well-maintained interior provides a professional and efficient workspace. A significant advantage is the ample on-site parking available for employees and clients, ensuring convenience and accessibility. The property enjoys high visibility from Centerville Road, enhancing its appeal and accessibility. Its strategic location in Warwick, Kent County, provides easy access to major highways, facilitating seamless commutes for staff and clients alike. The asking price for this turnkey office building is $649,000. This property represents a rare opportunity to acquire a well-maintained, conveniently located executive office building in a thriving Rhode Island market. The 02886 zip code offers a strong business environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $655,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $747,000
      Market price range: $332k - $1.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4654
    Latitude
    41.6981
    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
    $18,300
    $263,500
    $473,500
    $737,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,010,000
      16,128 SF

      340 Ee Ave

      SHOW ROOM, WAREHOUSE • 16,128 SF
      340 Ee Ave, Warwick, RI 02886-1802
      View Details
    • Value Estimation
      $1,845,000
      57,653 SF

      3 Shalom Dr

      SHOW ROOM, WAREHOUSE • 57,653 SF
      3 Shalom Dr, Warwick, RI 02886-1695
      View Details
    • Value Estimation
      $730,000
      3,560 SF

      2027 Post Rd

      SHOW ROOM, WAREHOUSE • 3,560 SF
      2027 Post Rd, Warwick, RI 02886-1437
      View Details
    • Value Estimation
      $1,750,000
      137,511 SF

      510 Quaker Ln

      SHOW ROOM, WAREHOUSE • 137,511 SF
      510 Quaker Ln, Warwick, RI 02886-6679
      View Details
    • Value Estimation
      $1,425,000
      65,646 SF

      300 Crossings Blvd

      SHOW ROOM, WAREHOUSE • 65,646 SF
      300 Crossings Blvd, Warwick, RI 02886-2878
      View Details
    • Value Estimation
      $1,660,000
      128,189 SF

      1245 Bald Hl Rd

      SHOW ROOM, WAREHOUSE • 128,189 SF
      1245 Bald Hl Rd, Warwick, RI 02886-4233
      View Details

    Similar Nearby for Sale

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      Warwick Office Condo - $900/month

      Modern Office Space, Prime Warwick Location
      469 Centerville Rd, Warwick, RI 02886
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    • $474,900

      Warwick Mixed-Use Building

      Prime Warwick location, versatile space, high visibility.
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    Similar Nearby for Lease

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      Premium Warwick, RI Office Space Available
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    • $16 SF/Yr
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      Warwick Retail Building - Prime Location

      Free-standing retail space, ample parking.
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      7,500 SF

      Warwick Retail Space Available

      7,500 SF retail space for lease in Warwick, RI.
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      View Details
    • Contact for pricing
      2,775 SF

      Retail Space on Bald Hill

      2,777 SF retail space in Warwick, Rhode Island.
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      View Details
    • Contact for pricing
      2,106 SF

      Retail Space in Warwick Center

      Retail spaces available in a busy Warwick shopping center.
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      View Details
    • Contact for pricing

      Retail Space in Warwick

      Former Price Rite space available for lease in Warwick.
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      View Details
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    151 Centerville Rd
    Warwick, RI 02886-4335
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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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