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Property profile & analytics
OFF-MARKET
Estimated value
$270,000
Showrooms
2 State St Narragansett, RI 02882-5713
Entity Owned
30-yr Hold
Free & Clear
Property ID
US76-0068840
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2000
Construction
FRAME
Total area
3,800 SF
Zoning code
B-B
APN
NARR M:I-G B:96 L:2
UPID
US76-0068840
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
by Request
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$602k
Blend (final)
Blend
$270k
Owner & transaction history
Miss Frances INC · 30 yrs held
Miss Frances INC
since 1996
1 recorded transaction
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$590,000
7%
$550,000
Blend value · Realmo final
$270k
Range $243k – $297k · ±10%
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
$71 / 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
$4,618
Tax year 2023
Assessed value
$367,400
Assessed 2023
Previous assessed
$367,400
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed improvement
$367,400
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2000
Construction
FRAME
Heating
HEAT PUMP
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
1
Total area
3,800 SF
Zoning code
B-B
APN
NARR M:I-G B:96 L:2
UPID
US76-0068840
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
2000
Construction
FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
1
Current owner
From public records · entity-resolved
Miss Frances INC
Entity
Free & Clear · 30 yrs held
Mailing address
PO BOX 608, NARRAGANSETT, RI 02882-0608
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 1996
$354,000
Miss Frances INC
Captains Table INC
Grant Deed
—
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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