Realmo Analytics
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Property summary
This 12,502 square foot, single-story shopping center in East Providence, Rhode Island presents a compelling value-add opportunity. Located at 198 Willett Ave, 02915, this C-Class property sits on a 39,164 square foot lot zoned C-2, offering significant redevelopment potential. Currently operating at 70% occupancy with 10 units across one building, the center boasts a strong existing NOI of $89,452, and a projected pro-forma NOI of $122,550, representing a 50% increase. The asking price is… $1,500,000 ($119.98/SF), yielding a current cap rate of 5.96% and a projected pro-forma cap rate of 8.17%. All leases are month-to-month, providing immediate flexibility for an owner-occupant or significant repositioning. The property benefits from its location in a dense neighborhood, adjacent to a city park, and a history of serving as a local commercial hub. The former deli/market space, vacant for over 30 years, presents a prime opportunity for lease or owner-occupancy. This is an ideal investment for those seeking a high-growth potential property with significant upside in a well-established community.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with a plan.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.
Property tax · 2024
Value estimate
· Oct 2026Realmo valuation models over county records and 18 qualifying comparable sales.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 15 properties nearbyComparable nearby
Similar Nearby for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 12,030 SF
- Lot area
- 0.9 ac
- Year built
- 1965
- Stories
- 1
- APN
- EPRO M:411 B:05 L:073 U:
- Zoning
- C2
- Assessed value · 2024
- $1,018,100
- Annual tax · 2024
- $24,353
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with a plan - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
The mortgage data comes with a plan: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- 10 Targeted Leads
- 1 Full Property Report
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
-
Zoning Insight— not in this plan -
Location Analytics— not in this plan
- 300 Targeted Leads a month
- 30 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
-
Location Analytics— not in this plan
- 1,500 Targeted Leads a month
- 150 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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