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Property profile & analytics
OFF-MARKET
Estimated value
$8,240,000
Showrooms
181 Corliss St, Providence, RI 02904-2603
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US76-0214248
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2016
Construction
FRAME
Total area
47,980 SF
Lot
2.01 ac (87,652 SF)
Zoning code
M-1
APN
PROV M:74 L:376
UPID
US76-0214248
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
-
Extended Stay America - Providence Hotel & Motel Vacation Rental
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.44M
Comparable Approach
Comparable
$7.92M
Blend (final)
Blend
$8.24M
Owner & transaction history
Woodspring Stuies Prov · 8 yrs held
Woodspring Stuies Prov
since 2018
6 recorded transactions
Zoning & alternative use
M-1 · Providence, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.3M
+47.7%
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 Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Providence 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$11,310,000
6.5%
$10,440,000
7%
$9,695,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,960,000
Current use
OFFICE BUILDING
$10,280,000
Change: +48% · Conversion: Easy
Blend value · Realmo final
$8.24M
Range $7.42M – $9.06M · ±10%
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
$172 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$218,631
Tax year 2023
Assessed value
$6,228,800
Assessed 2023
Previous assessed
$6,228,800
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$1,662,800
Assessed improvement
$4,566,000
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
2016
Construction
FRAME
Heating
SPACE
Cooling
YES
Buildings
1
Stories
4
Units
123
Rooms
130
Bathrooms
130
Total area
47,980 SF
Lot
2.01 ac (87,652 SF)
Zoning code
M-1
APN
PROV M:74 L:376
UPID
US76-0214248
Jurisdiction
PROVIDENCE
Zoning & alternative use
M-1 · Providence, RI
Zoning M-1 · permitted uses
M-1 · Providence, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Providence. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.0M
OFFICE BUILDING
Est. value
$10.3M
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
2016
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
4
Buildings
1
Units
123
Rooms
130
Bathrooms
130
Lot
2.01 ac
Current owner
From public records · entity-resolved
Woodspring Stuies Prov
Individual
Mailing address
PO BOX 49550, CHARLOTTE, NC 28277-9550
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2022
—
Tiger Providence LLC
—
Deed
related
—
Jan 7, 2019
—
Bsrep 2 Ws Providence LLC
—
Deed
related
$119,500,000 · Bsrep 2 Ws Hotel Dev
Feb 13, 2018
—
Woodspring Stuies Prov
Woodspring Stuies Prov
Quit Claim Deed
related
—
Oct 28, 2016
—
Woodspring Suites Prov
—
Deed
related
$7,484,036 · Fidelity Bk
Apr 7, 2016
—
Woodspring Suites Prov Ri
Cove Road Dev Corp
Warranty Deed
—
—
—
Woodspring Suites Prov
—
Deed Of Trust
related
$7,484,036 · Fidelity Bk
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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