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    191 2nd Ave Warwick, RI 02888-1155
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    191 2nd Ave Warwick, RI 02888-1155

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    • Industrial properties
    • 3,740 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US76-0133162
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • True Scent Candles / Home Decor Store
    • Microplastic Free Systems and Safety / Food And Beverage Exporter
    • Remedion / Food Processing Plant

    Property Details for 191 2nd Ave

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    3,740 SF
    Zone code
    LI
    Property type
    Industrial properties
    APN
    WARW M:286 B:0308 L:0000
    APU
    WARWM286B0308L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.426
    Latitude
    41.7589
    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
    $6,766
    $49,500
    $223,000
    $272,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      13,667 SF

      105 Bellows St

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      105 Bellows St, Warwick, RI 02888-1503
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      $1,385,000
      19,220 SF

      215 Jefferson Blvd

      INDUSTRIAL (GENERAL) • 19,220 SF
      215 Jefferson Blvd, Warwick, RI 02888-3818
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    • Value Estimation
      $860,000
      13,120 SF

      50 Jefferson Park Rd

      INDUSTRIAL (GENERAL) • 13,120 SF
      50 Jefferson Park Rd, Warwick, RI 02888-1016
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    • Value Estimation by Request
      5,200 SF

      200 Lavan St

      INDUSTRIAL (GENERAL) • 5,200 SF
      200 Lavan St, Warwick, RI 02888-1019
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    • Value Estimation
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      15,600 SF

      421 Lincoln Ave

      INDUSTRIAL (GENERAL) • 15,600 SF
      421 Lincoln Ave, Warwick, RI 02888-3029
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    Similar Nearby for Sale

    • $295,000
      2,220 SF

      Elmwood Avenue Commercial Building

      Commercial building on a busy street with versatile zoning.
      1708 Elmwood Ave, Warwick, RI 02888
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    • New
      $659,900
      7,500 SF

      Commercial Building on High Traffic Route

      Five-unit commercial building with warehouse, retail, and office spaces.
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      3,430 SF

      Industrial Building with Three Units

      Three-unit industrial building near major roadways, Warwick, Rhode Island.
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    • $686,000
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      Industrial Building with Three Units

      3,430 SF industrial building featuring three units and mezzanines.
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    • $679,900
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    Similar Nearby for Lease

    • Contact for pricing

      Multi-Tenant Sales/Service/Office Property

      Multi-tenant property with medical, showroom, industrial, sales/service spaces.
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      View Details
    • $1,850 /Mo
      1,110 SF

      Elmwood Avenue Versatile Commercial Space

      Commercial space on high-traffic Elmwood Ave, suitable for various businesses.
      1708 Elmwood Ave, Warwick, RI 02888
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    • Contact for pricing
      16,500 SF

      Warwick Flex Office Space

      16,500 SF flex office space in excellent condition.
      30 Jefferson Park Rd, Warwick, RI 02888
      View Details
    • Contact for pricing

      Renovated Flex Space Available

      Recently renovated flex space with overhead door and high ceilings.
      5800 Post Rd, East Greenwich, RI 02888
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    • $2,500 /Mo
      5,000 SF

      Warehouse and Office Space Available

      Warehouse/retail space with office, suitable for contractors.
      2121 Elmwood Ave, Warwick, RI 02888
      View Details
    • Contact for pricing

      Office Space with Private Entrance

      1,100 SF office space with private entrance for rent.
      166 Lavan St, Warwick, RI 02888
      View Details
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    191 2nd Ave
    Warwick, RI 02888-1155
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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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