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Property profile & analytics
OFF-MARKET
Estimated value
$275,000
Showrooms
240 Bullocks Pt Ave Riverside, RI 02915-4301
Entity Owned
Absentee Owner
Free & Clear
Property ID
US76-0127743
Property summary
AI-generated overview
This exceptional storefront property at 240 Bullocks Point Avenue, East Providence, RI 02915, presents a unique investment opportunity. Built in 1959, this single-unit, 2,949 sq ft retail space boasts a rich history as a beloved, established ice cream shop. Its prime location directly on the East Bay Bike Path, a route attracting over a million visitors annually, ensures consistent foot and bike traffic. The property features shaded picnic tables, ample customer parking, a durable rubber roof, a 400-amp electrical unit, a walk-in refrigerator, and three Taylor soft-serve ice cream machines. A full basement provides substantial storage and potential for expansion. The property is situated in an overlay district qualifying for city grant money, opening doors to further growth and development. This landmark business offers a blend of established success and significant future potential, making it an attractive acquisition for investors or entrepreneurs seeking a thriving enterprise with a strong community presence. The asking price is $699,000.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1960
Total area
448 SF
Lot
0.07 ac (2,949 SF)
Zoning code
C3
APN
EPRO M:312 B:09 L:001 U:
UPID
US76-0127743
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
Current use
Occupant on record · Public records
-
Dari-Bee Ice Cream Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$275k
Owner & transaction history
Papa Sal Hldg LLC
Papa Sal Hldg LLC
since 2026
3 recorded transactions
Zoning & alternative use
C3 · Riverside, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$275k
Range $248k – $303k · ±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
$614 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,471
Tax year 2024
Assessed value
$103,300
Assessed 2024
Previous assessed
$103,300
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$81,700
Assessed improvement
$21,600
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
1960
Heating
NONE
Buildings
1
Stories
1
Rooms
15
Bathrooms
3
Total area
448 SF
Lot
0.07 ac (2,949 SF)
Zoning code
C3
APN
EPRO M:312 B:09 L:001 U:
UPID
US76-0127743
Jurisdiction
EAST PROVIDENCE
Zoning & alternative use
C3 · Riverside, RIZoning C3 · permitted uses
C3 · Riverside, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Buildings
1
Rooms
15
Bathrooms
3
Lot
0.07 ac
Current owner
From public records · entity-resolved
Papa Sal Hldg LLC
Entity
Free & Clear · 0 yrs held
Mailing address
548 PNE ST, SEEKONK, MA 02771-1316
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
$150,000
Papa Sal Hldg LLC
Frank J & Rosalie M Silva T
Deed
—
Nov 29, 2019
—
J Frank
Rosalie M Silva
Quit Claim Deed
related
—
Apr 8, 1997
$78,000
Frank J Silva
Tait,carolyn J
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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