185 Willett Ave 187 Riverside, RI 02915-4226
Entity Owned
2-yr Hold
~
Est. High Equity
Estimated value (blended)
$590k
Range $531k – $649k (±10%)
Implied cap rate
8.70%
In-place · NOI ÷ last sale
Property ID
US76-0216007
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1974
Total area
4,360 SF
Lot
0.62 ac (27,212 SF)
Zoning code
C2
APN
EPRO M:411 B:15 L:038 U:
UPID
US76-0216007
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store
-
Postal Service Courier Service
-
Atm
-
Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
$790k
Comparable Approach
Comparable
$492k
Blend (final)
Blend
$590k
Owner & transaction history
since 2024
Last sale
$590,000
3 recorded transactions
Zoning & alternative use
C2 · Riverside, RI
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$590k
Value range
$531k – $649k
±10% around blend
Estimated value / SF
$135 / SF
Confidence
High
8 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
80
$531k
blend $590k
$649k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,360 SF
Lot area
0.62 ac
Year built
1974
Stories
1
APN
EPRO M:411 B:15 L:038 U:
Assessed value
$472,200
Annual tax
$11,295
3
Income approach: direct capitalization
Partial preview
Income approach indication
$790k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$860k
@ 6.5% CAP return
$790k
@ 7% CAP return
$735k
4
Sales comparison
Partial preview
Sales approach indication
$836k
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.3 mi away · 3,222 SF
2.4 mi away · 4,000 SF
2.6 mi away · 4,806 SF
2.8 mi away · 3,808 SF
2.9 mi away · 3,808 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$590k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 36 sales
$134
+1%
Submarket 137 sales
$159
-15%
County 1487 sales
$146
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $135/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
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Overview
Implied cap rate
8.70%
Implied, in-place cap rate for this showrooms
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.70%
9.0%
NOI (est.)
$41k *
Last sale · Jul 2024
$590k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$475k
Move the market yield to see immediate price impact.
Value / SF
$109
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.20%8.70%9.20%
$37k
$453k
$427k
$404k
$41k
$504k
$475k
$449k
$45k
$554k
$522k
$494k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$300k
0.6 mi · Aug 2025 · $89/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$11,295
Tax year 2024
Assessed value
$472,200
Assessed 2024
Previous assessed
$472,200
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$273,400
Assessed improvement
$198,800
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1974
Heating
BASEBOARD
Cooling
YES
Buildings
1
Stories
1
Units
2
Rooms
20
Bathrooms
3
Total area
4,360 SF
Lot
0.62 ac (27,212 SF)
Zoning code
C2
APN
EPRO M:411 B:15 L:038 U:
UPID
US76-0216007
Jurisdiction
EAST PROVIDENCE
Zoning & alternative use
C2 · Riverside, RIZoning C2 · permitted uses
C2 · Riverside, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
BASEBOARD
Cooling
Yes
Stories
1
Buildings
1
Units
2
Rooms
20
Bathrooms
3
Lot
0.62 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C2
Jurisdiction
Riverside, RI
Recorded code
C2
Ownership Intelligence
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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