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    2 Market St Warren, RI 02885-2516
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    Property profile & analytics

    2 Market St Warren, RI 02885-2516

    View on Map
    • Investment properties
    • 1,804 SF
    • 0.02 lot acres
    Off-Market
    Property ID
    US76-0123731
    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

    • Prica Farina Fresh Pasta Co. / Specialty Food Shop

    Property Details for 2 Market St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.02 lot acres
    Property size
    1,804 SF
    Zone code
    VB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WARR M:3 L:73
    APU
    WARRM3L73

    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
    Warren
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2826
    Latitude
    41.7309
    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
    $3,367
    $51,000
    $195,500
    $246,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.86 Acres

      384 Market St

      OFFICE/RESIDENTIAL (MIXED USE) • 1.86 Acres
      384 Market St, Warren, RI 02885-1627
      View Details
    • Value Estimation
      $590,000
      4,156 SF

      432 Child St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,156 SF
      432 Child St, Warren, RI 02885-1876
      View Details
    • Value Estimation by Request
      3,486 SF

      48 Market St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,486 SF
      48 Market St, Warren, RI 02885-2515
      View Details
    • Value Estimation by Request
      3,574 SF

      15 Miller St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,574 SF
      15 Miller St, Warren, RI 02885-3150
      View Details
    • Value Estimation by Request
      0.25 Acres

      5 Palmer Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.25 Acres
      5 Palmer Ave, Warren, RI 02885-1609
      View Details
    • Value Estimation by Request
      3,525 SF

      241 Water St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,525 SF
      241 Water St, Warren, RI 02885
      View Details

    Similar Nearby for Sale

    • $1,499,000
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      Warren RI Investment Opportunity

      Multi-property purchase opportunity in the heart of Warren, Rhode Island.
      367 Child St, Warren, RI 02885
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    • $699,000

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      Multi-building property with commercial and residential units in Warren.
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      Ocean State Cleaners

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    • $699,000
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      Mixed-Use Property in Warren

      Multi-building mixed-use property with commercial and residential units.
      367 Child St, Warren, RI 02885
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    • $699,000
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      Mixed-Use Buildings in Warren, RI

      Three buildings with commercial and residential units, plus detached garage.
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    • $699,000
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      Mixed-Use Investment Opportunity in Warren

      Mixed-use property with commercial and residential units in Warren, RI.
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    Similar Nearby for Lease

    • $1,800 /Mo

      Versatile First-Floor Unit For Rent

      Flexible live/work space with modern amenities and convenient location.
      176 Child St, Warren, RI 02885
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease.
      601 Metacom Ave, Warren, RI 02885
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    • Contact for pricing
      1,000 SF

      Warren RI Retail/Office Space

      Retail/office space in historic Warren, RI, prime downtown location.
      32 Cole St, Warren, RI 02885
      View Details
    • $2.00 SF/Yr

      Downtown Warren Office Space Available

      Professional office space in downtown Warren, Rhode Island.
      10 Child St, Warren, RI 02885
      View Details
    • $500 /Mo
      381 SF

      Downtown Warren Office Space Available

      Office space in downtown Warren with utilities included.
      16 Miller St, Warren, RI 02885
      View Details
    • $2,000 /Mo

      Office Rental with Outdoor Storage

      Office space for rent with secure, gated outdoor storage.
      51 Cole St, Warren, RI 02885
      View Details

    Property Visit Statistics

    • Visits by month
      4.1k
    • Visitors by month
      3.2k
    • Avg Time on site
      8 min
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    Warren, RI 02885-2516
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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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