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Property profile & analytics
FOR SALE
Commercial land
2 Sand Hill Cove Rd Narragansett Narragansett, RI 02882
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US76-0063836
For Sale
1 / 3
$1,300,000
2 Sand Hill Cove Rd,Unit Narragansett, Narragansett, RI 02882
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Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1942
Construction
WOOD FRAME
Total area
6,727 SF
Lot
0.81 ac (35,327 SF)
Zoning code
B-B
APN
NARR M:N B:319
UPID
US76-0063836
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.03M
Owner & transaction history
Tmg Management Services · 5 yrs held
Tmg Management Services
since 2021
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
B-B · Narragansett, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This zone is composed of certain land and structures used for the retailing of commodities and the furnishing of services dependent upon considerable vehicular and pedestrian traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
115.46 ac
Source
Realmo
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 Narragansett submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Narragansett 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
$1,095,000
ML approach
$1,180,000
CAP Approach
CAP Return
Estimation
6%
$1,135,000
6.5%
$1,050,000
7%
$975,000
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±10% · vs last sale $900k (Feb 22 2021)
Last sale anchor
$900k
Feb 22 2021
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
$152 / 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
$7,578
Tax year 2023
Assessed value
$602,900
Assessed 2023
Previous assessed
$602,900
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$602,900
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Sale
Year built
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
1
Total area
6,727 SF
Lot
0.81 ac (35,327 SF)
Zoning code
B-B
APN
NARR M:N B:319
UPID
US76-0063836
Jurisdiction
NARRAGANSETT
Zoning & alternative use
B-B · Narragansett, RIZoning B-B · permitted uses
B-B · Narragansett, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This zone is composed of certain land and structures used for the retailing of commodities and the furnishing of services dependent upon considerable vehicular and pedestrian traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
115.46 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1942
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Tmg Management Services
Entity
Mailing address
195 OLD FRG RD, EAST GREENWICH, RI 02818-4606
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2021
$900,000
Tmg Management Services
Kps Properties LLC
Warranty Deed
—
Jan 10, 2017
—
Kps Properties LLC
—
Deed
related
$1,679,500 · Newtek Small Busn Fin
Feb 22, 2012
—
Kps Props LLC
—
Grant Deed
related
$539,200 · Ct Comunity Inv
Jan 10, 2012
$975,000
Kps Properties LLC
Sportiko Ltd
Warranty Deed
$539,200 · Bank Of Newport
Jan 10, 2012
—
Kps Properties LLC
—
Grant Deed
related
$431,200 · Bank Of Newport
Sep 7, 2010
—
Sportiko Ltd
—
Deed Of Trust
related
$328,300 · Washington Trust Co
May 12, 2008
—
Sportiko Ltd
—
Grant Deed
related
$140,000 · Washington Trust Co
Nov 8, 2002
—
Sportiko Ltd
—
Deed Of Trust
related
$750,000 · Washington Trust Co
Jun 29, 1989
—
P B Realty INC
—
Deed Of Trust
related
$70,000 · Bank Of N E Old Colony
May 23, 1989
—
P B Realty
—
Deed Of Trust
related
$35,000 · Bank Of N E Old Colony
—
—
Kps Properties LLC
—
Deed Of Trust
related
$1,679,500 · Newtek Small Busn Fin
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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