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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Showrooms
1600 Highland Corporate Dr, Cumberland, RI 02864-1798
Individually Owned
5-yr Hold
Free & Clear
Property ID
US76-0302683
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2007
Construction
STEEL FRAME
Total area
25,297 SF
Lot
5.25 ac (228,864 SF)
Zoning code
I-1
APN
CUMB M:051 B:0051 L:000
UPID
US76-0302683
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.59M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$3.00M
Owner & transaction history
R Rapp · 5 yrs held
R Rapp
since 2020
Last sale
$3.0M
3 recorded transactions
Zoning & alternative use
I-1 · Cumberland, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+37.3%
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 Cumberland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cumberland 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)
Refine in 60 seconds, get exact suggested price
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
$3,495,000
ML approach
$3,590,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,530,000
Current use
OFFICE BUILDING
$4,845,000
Change: +37% · Conversion: Easy
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10% · vs last sale $2.96M (Nov 30 2020)
Last sale anchor
$2.96M
Nov 30 2020
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
$119 / 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
$31,715
Tax year 2024
Assessed value
$2,654,000
Assessed 2024
Previous assessed
$1,867,000
+42.2% YoY
Effective rate
1.19%
On assessed value
Assessed land
$411,200
Assessed improvement
$2,242,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Total area
25,297 SF
Lot
5.25 ac (228,864 SF)
Zoning code
I-1
APN
CUMB M:051 B:0051 L:000
UPID
US76-0302683
Jurisdiction
CUMBERLAND
Zoning & alternative use
I-1 · Cumberland, RI
Zoning I-1 · permitted uses
I-1 · Cumberland, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cumberland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.5M
OFFICE BUILDING
Est. value
$4.8M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Lot
5.25 ac
Current owner
From public records · entity-resolved
R Rapp
Individual
Free & Clear · 5 yrs held
Mailing address
1600 HIGHLAND CORPORATE DR, CUMBERLAND, RI 02864-1798
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2020
$1,950,000
R Rapp
Rapp Hldgs LLC
Quit Claim Deed
—
Oct 30, 2008
$2,960,000
Rapp Holdings LLC
Polyrack N America Corp
Warranty Deed
$1,500,000 · Citizens Bank Of Ri
Apr 6, 2007
$360,000
Polyrack N America Corp
Economic Dev Fndtn Of Ri
Grant Deed
—
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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