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

    22 Almeida Ave East Providence, RI 02914

    • Industrial properties
    • 31,800 SF
    • 3.03 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Nov 25, 2020
    $1,800,000
    Value Estimations
    $2,475,000
    Cap Rate Potential
    6.9%
    Industrial properties
    Location Intelligence
    Property ID
    US76-0050116
    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

    • Cod Oil / Cars / Gas Station
    • Independent Pipe and Supply Corporation / Pipe Supplier / Wholesaler

    Property Details for 22 Almeida Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.03 lot acres
    Property size
    31,800 SF
    Zone code
    I3
    Property type
    Industrial properties
    APN
    EPRO M:606 B:02 L:002 U:
    APU
    EPROM606B02L002U

    Description

    This exceptional 3,600 square foot office space is situated on the second floor of a two-story building at 22 Almeida Avenue in East Providence, Rhode Island, 02914. The property boasts nine private offices, perfect for a variety of business needs. Natural light floods the space, creating a bright and productive work environment. A convenient kitchenette and private restroom are included for employee comfort. This single-tenant space is part of a larger 24,600 square foot building and is easily accessible via public transportation, as it's located along a bus line. Its strategic location near the Massachusetts/Rhode Island state line provides easy access to major highways, including I-195 and I-95, and offers a quick commute to downtown Providence. The building does not have an elevator

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,400,000
      ML approach
      $2,410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,765,000
      6.5%
      $2,555,000
      7%
      $2,370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,538,000
      Market price range: $1.38M - $3.87M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,640,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    East Providence
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.3437
    Latitude
    41.8141
    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
    2024
    $42,288
    $573,100
    $1,194,800
    $1,767,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.91 Acres

      100 Dexter Rd

      INDUSTRIAL (GENERAL) • 3.91 Acres
      100 Dexter Rd, East Providence, RI 02914-2005
      View Details
    • Value Estimation by Request
      15.61 Acres

      1 Dexter Rd

      INDUSTRIAL (GENERAL) • 15.61 Acres
      1 Dexter Rd, East Providence, RI 02914-2033
      View Details
    • Value Estimation
      $13,135,000
      148,930 SF

      3 Dexter Rd

      INDUSTRIAL (GENERAL) • 148,930 SF
      3 Dexter Rd, East Providence, RI 02914-2045
      View Details
    • Value Estimation by Request
      1.15 Acres

      15 Grosvenor Ave, Unit 19

      INDUSTRIAL (GENERAL) • 1.15 Acres
      15 Grosvenor Ave, East Providence, RI 02914-4527
      View Details
    • Value Estimation by Request
      1,600 SF

      889 Taunton Ave

      INDUSTRIAL (GENERAL) • 1,600 SF
      889 Taunton Ave, East Providence, RI 02914
      View Details
    • Value Estimation
      $1,110,000
      14,200 SF

      20 Catamore Blvd

      INDUSTRIAL (GENERAL) • 14,200 SF
      20 Catamore Blvd, East Providence, RI 02914-1204
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      East Providence Industrial Property

      81,022 SF Land, Warehouse, Manufacturing
      945 Warren Ave, East Providence, RI 02914
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      0.50 Acres

      East Providence Commercial Building

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      East Providence Insulated Warehouse For Sale

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      30,730 SF

      Industrial Warehouse with Office Space

      Industrial warehouse featuring office space, docks, and parking.
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      Versatile Multi-Level Commercial Building

      Multi-level building with high visibility in high-traffic area.
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      East Providence Live/Work Property

      Two buildings, 5,005 sq ft lot, huge potential!
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    Similar Nearby for Lease

    • $15 SF/Yr
      3,795 SF

      Prime East Providence Office Space

      Retail/Office Building, 3795 sq ft, 75+ Parking
      999 Broadway, East Providence, RI 02914
      View Details
    • $18 SF/Yr
      24,600 SF

      Prime East Providence Office Space

      Nine private offices, 3600 sq ft, ideal location.
      22 Almeida Ave, East Providence, RI 02914
      View Details
    • $22 SF/Yr
      2,500 SF

      Move-in Ready Office/Medical Suite

      2,500 SF office/medical suite with ample parking.
      450 Veterans Memorial Pkwy, East Providence, RI 02914
      View Details
    • Contact for pricing
      216,444 SF

      Wampanoag Plaza: Retail Space Available

      Grocery-anchored shopping center; prime East Providence location.
      1925 Pawtucket Ave, East Providence, RI 02914
      View Details
    • Contact for pricing
      16,000 SF

      East Providence Office Space Available

      Class A office space for lease near Downtown Providence.
      50 Jordan St, East Providence, RI 02914
      View Details
    • $18 SF/Yr
      3,600 SF

      East Providence Office Space Available

      3,600 SF office space with nine private offices for rent.
      22 Almeida Ave, East Providence, RI 02914
      View Details
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    East Providence, RI 02914
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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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