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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2053 Elmwood Ave Warwick, RI 02888-2405

    • Investment properties
    • 1,128 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $335,000
    Show details
    Cap Rate Potential
    3.9%
    Investment properties
    Location Intelligence
    Property ID
    US76-0103923
    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.

    Current Use by Public Records

    • Investment properties

    Property Details for 2053 Elmwood Ave

    Year built
    1915
    Construction
    FRAME
    Lot size
    0.63 lot acres
    Property size
    1,128 SF
    Zone code
    A7
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WARW M:296 B:0478 L:0000
    APU
    WARWM296B0478L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $312,000
      Market price range: $132k - $312k
      AI Estimate
      $258,000
      Market price range: $78.8k - $259k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $230,000
      Current use
      OFFICE BUILDING
      $250,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4237
    Latitude
    41.7515
    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
    $0.00
    $89,000
    $184,500
    $273,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $315,000
      960 SF

      459 Post Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 960 SF
      459 Post Rd, Warwick, RI 02888-1429
      View Details
    • Value Estimation
      $515,000
      3,268 SF

      962 Warwick Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,268 SF
      962 Warwick Ave, Warwick, RI 02888-3650
      View Details
    • Value Estimation
      $465,000
      3,416 SF

      672 Warwick Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,416 SF
      672 Warwick Ave, Warwick, RI 02888-2632
      View Details
    • Value Estimation
      $430,000
      2,897 SF

      1935 Elmwood Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,897 SF
      1935 Elmwood Ave, Warwick, RI 02888-2401
      View Details
    • Value Estimation
      $335,000
      1,008 SF

      1 Grenore St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,008 SF
      1 Grenore St, Warwick, RI 02888-2923
      View Details
    • Value Estimation
      $375,000
      5,880 SF

      23 Peck Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 5,880 SF
      23 Peck Ln, Warwick, RI 02888-1637
      View Details

    Similar Nearby for Sale

    • $250,000

      Thriving Warwick Pizza Restaurant

      Established eatery, seller financing available.
      1279 Post Rd, Warwick, RI 02888
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    • $579,900
      0.32 Acres

      Mixed-Use Property with Development Potential

      Live, work, and invest in this versatile Warwick property.
      1020 Warwick Ave, Warwick, RI 02888
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    • $579,900
      0.32 Acres

      Mixed-Use Property with Income Potential

      Mixed-use property with commercial space, residence, and development potential.
      1020 Warwick Ave, Warwick, RI 02888
      View Details
    • $695,000
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      Warwick Executive Office Suite

      Class A Office, 4,006 SF, Prime Location
      300 Centerville Rd, Warwick, RI 02888
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    • $3,500,000

      Warwick Avenue Restaurant & Land

      Iconic Restaurant, High Traffic, Ample Parking
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    • Contact for pricing
      0.15 Acres

      Warwick Office Space For Sale

      Office space with high visibility on a high-traffic road.
      849 Post Rd, Warwick, RI 02888
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      14,950 SF

      Warwick Retail Space: Post Road Gem

      Prime Warwick retail space, divisible, ample parking.
      1590 Post Rd, Warwick, RI 02888
      View Details
    • Contact for pricing
      16,186 SF

      Industrial Building on Jefferson Blvd

      16,186 SF industrial building with redevelopment potential.
      50 Jefferson Blvd, Warwick, RI 02888
      View Details
    • $725 /Mo
      600 SF

      Warwick Office/Retail Space Available

      600 SF office or retail space for rent.
      895 Post Rd, Warwick, RI 02888
      View Details
    • Contact for pricing
      25,906 SF

      Retail Space in East Greenwich

      Retail property in affluent East Greenwich, Rhode Island.
      5600 Post Rd, East Greenwich, RI 02888
      View Details
    • $16 SF/Yr
      1,500 SF

      High-Traffic Retail/Office Space Available

      1500 SF retail/office space on high-traffic Post Road.
      1255 Post Rd, Warwick, RI 02888
      View Details
    • $14 SF/Yr
      28,850 SF

      Jefferson Blvd Medical Office Space

      Warwick, RI: Prime Medical Office Suites Available
      155 Jefferson Blvd, Warwick, RI 02888
      View Details
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    2053 Elmwood Ave
    Warwick, RI 02888-2405
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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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