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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Showrooms
1521 Main Rd Middletown, RI 02842-6303
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US76-0377045
Property summary
AI-generated overview
This exceptional 2,029 square foot Class B office building, located at 1521 W Main Rd, Middletown, RI 02842, presents a lucrative investment opportunity. Built in 1930 and renovated in 2012, this single-story property boasts two 100% occupied executive suites, generating a strong cash flow. The building sits on a 13,068 square foot corner lot with ample parking (19 spaces) and benefits from a General Business (GBA) zoning designation. Its prime location across from a major shopping center on a heavily trafficked road with a traffic light ensures high visibility and accessibility. Features include a full basement, convenient side and front building access, and a handicapped-accessible walkway. The asking price is $875,000 ($431.25/sq ft), with a net-net lease structure and no rent bumps scheduled. The property is currently fully occupied until July 30, 2024. This is an ideal investment for those seeking a stable, high-return property in a desirable location.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1930
Total area
2,029 SF
Lot
0.3 ac (13,068 SF)
Zoning code
GBA
APN
MIDD M:0111 B:00 L:36A
UPID
US76-0377045
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Middletown Chiropractic Center Alternative Medicine Practice
-
d'Oliveira & Associates, p.c. Law Firm
-
William Lord Alternative Medicine Practice
-
Bagus David D Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$646k
Blend (final)
Blend
$715k
Owner & transaction history
Matos Enterprises LLC · 1 yrs held
Matos Enterprises LLC
since 2025
Last sale
$780,000
2 recorded transactions
Zoning & alternative use
GBA · Middletown, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$695,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$715k
Range $644k – $787k · ±10% · vs last sale $780k (Jan 23 2025)
Last sale anchor
$780k
Jan 23 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$352 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$7,284
Tax year 2024
Assessed value
$561,200
Assessed 2024
Previous assessed
$326,800
+71.7% YoY
Effective rate
1.30%
On assessed value
Assessed land
$250,000
Assessed improvement
$311,200
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1930
Heating
HOT WATER
Buildings
1
Stories
1
Units
2
Rooms
8
Bathrooms
2
Total area
2,029 SF
Lot
0.3 ac (13,068 SF)
Zoning code
GBA
APN
MIDD M:0111 B:00 L:36A
UPID
US76-0377045
Jurisdiction
MIDDLETOWN
Zoning & alternative use
GBA · Middletown, RI
Zoning GBA · permitted uses
GBA · Middletown, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1930
Heating
HOT WATER
Stories
1
Buildings
1
Units
2
Rooms
8
Bathrooms
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
Matos Enterprises LLC
Entity
Mailing address
38 MATHEWSON ST, NARRAGANSETT, RI 02882-3669
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
$780,000
Matos Enterprises LLC
Lord Ft
Deed
$800,000 · Live Oak Banking Company
Jun 13, 2019
—
Lord Ft Trust
Lord,laura J
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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