Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2174 Elmwood Ave Warwick, RI 02888-3348

    • Commercial real estate
    • 4,545 SF
    • 0.45 lot acres
    OFF-MARKET
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0062459
    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

    • International Barber Shop / Barber Shop

    Property Details for 2174 Elmwood Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.45 lot acres
    Property size
    4,545 SF
    Zone code
    GB
    Property type
    Commercial real estate
    APN
    WARW M:298 B:0055 L:0000
    APU
    WARWM298B0055L0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $865,000
      7%
      $800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,092,000
      Market price range: $530k - $1.26M
      AI Estimate
      $821,000
      Market price range: $318k - $1.04M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $920,000
      Current use
      OFFICE BUILDING
      $1,000,000
      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
    -71.4221
    Latitude
    41.7486
    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
    2020
    $14,719
    $61,800
    $544,800
    $606,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $12,145,000
      69,996 SF

      55 Jefferson Park Rd

      SHOW ROOM, WAREHOUSE • 69,996 SF
      55 Jefferson Park Rd, Warwick, RI 02888-1015
      View Details
    • Value Estimation
      $1,985,000
      8,560 SF

      10 Senator St

      COMMERCIAL CONDOMINUIM • 8,560 SF
      10 Senator St, Warwick, RI 02888-5925
      View Details
    • Value Estimation
      $5,325,000
      22,954 SF

      1350 Post Rd

      COMMERCIAL (GENERAL) • 22,954 SF
      1350 Post Rd, Warwick, RI 02888-3262
      View Details
    • Value Estimation by Request

      123 Anyway Ct

      Individual retail properties
      123 Anyway Ct, Warwick, RI 02888
      View Details
    • Value Estimation by Request
      1,246 SF

      20 Jefferson Blvd

      COMMERCIAL (GENERAL) • 1,246 SF
      20 Jefferson Blvd, Warwick, RI 02888-1014
      View Details
    • Value Estimation by Request
      1,207 SF

      100 Bellows St Ste, Unit 16

      COMMERCIAL CONDOMINUIM • 1,207 SF
      100 Bellows St Ste, Warwick, RI 02888-1531
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Warwick Avenue Restaurant & Land

      Iconic Restaurant, High Traffic, Ample Parking
      1251 Warwick Ave, Warwick, RI 02888
      View Details
    • $590,000
      3,760 SF

      Warwick Commercial Building - Prime Location

      Versatile Shop/Garage, 3760 sq ft, 0.2 acres
      8 Perry Ave, Warwick, RI 02888
      View Details
    • $799,000

      Warwick RI Multi-Unit Commercial Building

      Five-unit commercial building, high-traffic location.
      2121 Elmwood Ave, Warwick, RI 02888
      View Details
    • $369,000
      1,738 SF

      well known iconic and beloved Chinese Restaurant since 1982. Closed during pandemic. Equipment

      supplies and furnishings (except decorations and some authentic Asian\/polynesian dishware)
      586 Warwick Ave, Warwick, RI 02888
      View Details
    • $2,699,000

      Warwick RI Development Opportunity

      Prime 251K SF Land, 48-Unit Condo Plan Approved
      270 Post Rd, Warwick, RI 02888
      View Details
    • Contact for pricing

      Warwick RI Multi-Use Property

      Prime Warwick location, 2 buildings, ample parking.
      627 Warwick Ave, Warwick, RI 02888
      View Details

    Similar Nearby for Lease

    • $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
    • $16 SF/Yr
      9,000 SF

      Warwick Retail Space For Lease

      9,000 SF retail space with ample parking and loading dock.
      1290 Warwick Ave, Warwick, RI 02888
      View Details
    • $10 SF/Yr
      16,500 SF

      Warwick Flex Office Space

      16,500 SF flex office space in excellent condition.
      30 Jefferson Park Rd, Warwick, RI 02888
      View Details
    • $16 SF/Yr
      1,500 SF

      Renovated Flex Space Available

      Recently renovated flex space with overhead door and high ceilings.
      5800 Post Rd, East Greenwich, RI 02888
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2174 Elmwood Ave
    Warwick, RI 02888-3348
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.