Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Investment properties
246 Thames St Newport, RI 02840-6613
Entity Owned
5-yr Hold
Property ID
US76-0092887
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Construction
FRAME
Total area
2,906 SF
Lot
0.02 ac (806 SF)
Zoning code
GB
APN
NEWP M:024 B:0249
UPID
US76-0092887
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
$1.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.03M
Blend (final)
Blend
$1.19M
Owner & transaction history
246 Thames LLC · 5 yrs held
246 Thames LLC
since 2021
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
GB · Newport, 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 Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport 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
$1,535,000
ML approach
$1,525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10% · vs last sale $1.20M (Mar 25 2021)
Last sale anchor
$1.20M
Mar 25 2021
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
$408 / 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
Assessed value
$658,400
Assessed 2023
Previous assessed
$658,400
+0.0% YoY
Assessed land
$403,000
Assessed improvement
$255,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
HOT WATER
Buildings
1
Stories
4
Units
2
Bathrooms
4
Total area
2,906 SF
Lot
0.02 ac (806 SF)
Zoning code
GB
APN
NEWP M:024 B:0249
UPID
US76-0092887
Jurisdiction
NEWPORT
Zoning & alternative use
GB · Newport, RI
Zoning GB · permitted uses
GB · Newport, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
HOT WATER
Stories
4
Buildings
1
Units
2
Bathrooms
4
Lot
0.02 ac
Current owner
From public records · entity-resolved
246 Thames LLC
Entity
Mailing address
392 SOWAMS RD, BARRINGTON, RI 02806-2700
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2021
$1,200,000
246 Thames LLC
Peter J Sheehan
Quit Claim Arm's Length For Ne States
$1,000,000 · Peter J Sheehan
Aug 23, 2013
—
Peter J Sheehan
—
Deed Of Trust
related
$195,000 · Peoples Cu
Jul 10, 2012
$1
Peter J Sheehan
246 Thames Street LLC
Grant Deed
related
—
Apr 24, 2003
—
246 Thames St LLC
—
Deed Of Trust
related
$25,000 · Bank Of Rhode Island
Apr 20, 1999
—
Peter J Sheehan
—
Deed Of Trust
related
$129,350 · Home Loan & Investment Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 246 Thames St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
