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    Property profile & analytics

    250 Centerville Rd Warwick, RI 02886

    • Office Properties & Spaces
    • 1,962 SF
    For Sale
    View listing
    $350,000
    Value Estimations
    Cap Rate Potential
    7.7%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US76-0223686
    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

    • Millstone Engineering PC / Surveyor / Engineering Consultant
    • Charles Kirwan Law Office / Attorney
    • universty medicine / Medical Center
    • Stephen Petteruti / Family Practice Physician
    • Swagelok Cambridge / Manufacturer / Professional Services

    Property Details for 250 Centerville Rd

    Year built
    1985
    Property size
    1,962 SF
    Zone code
    O
    Property type
    Office Properties & Spaces
    APN
    WARW M:243 B:0007 L:0009
    APU
    WARWM243B0007L0009

    Description

    This exceptional 1,962 square foot commercial condominium unit is ideally situated within the Warwick Executive Park, offering unparalleled convenience with immediate access to Interstate 95. Located on the first floor of a well-maintained brick building, this property boasts ample parking and secure entry, ensuring both convenience and peace of mind for your business and its clientele. Currently configured as medical offices with a Use Code of 342, this versatile space presents a multitude of possibilities for various commercial ventures. The professional on-site management company diligently maintains the building, providing a worry-free environment for your operations. The strategic location within the Warwick Executive Park, coupled with its easy highway access, guarantees high visibility and accessibility for your business, attracting a wider range of clients and maximizing your potential for success. This is a rare opportunity to establish or relocate your business in a prime location with all the necessary amenities for a thriving enterprise. The unit's spacious layout and adaptable design allow for customization to suit your specific business needs. Don't miss this chance to secure a prominent presence in a highly sought-after commercial park.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $595,000
      6.5%
      $550,000
      7%
      $510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $417,000
      Market price range: $241k - $517k
      AI Estimate
      $423,000
      Market price range: $258k - $543k

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4704
    Latitude
    41.6966
    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
    $6,384
    $0.00
    $257,100
    $257,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

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      CONDOMINIUM OFFICES • 542 SF
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    • Value Estimation
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      441 Old Frg Rd, Unit 12

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    • Value Estimation
      $325,000
      1,034 SF

      441 Old Frg Rd, Unit 30

      CONDOMINIUM OFFICES • 1,034 SF
      441 Old Frg Rd, Warwick, RI 02886
      View Details
    • Value Estimation
      $335,000
      900 SF

      615 Jefferson Blvd Ste A201

      CONDOMINIUM OFFICES • 900 SF
      615 Jefferson Blvd Ste A201, Warwick, RI 02886-1361
      View Details
    • Value Estimation by Request
      35,000 SF

      2518 Post Rd

      Office Properties & Spaces • 35,000 SF
      2518 Post Rd, Warwick, RI 02886
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Warwick Office Condo - $765,000

      Prime Warwick office space, 5,475 sq ft.
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      Warwick Medical Office Condo

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    Similar Nearby for Lease

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      Prime Warwick Office Space: 6,400 SF Available
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      Class A Office Space, Warwick, RI

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      Metro East Office Park Executive Suites

      Class A Office Space, Kent County
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    • Contact for pricing
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      Warwick Executive Office Space

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    • $13 SF/Yr
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      View Details
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    250 Centerville Rd
    Warwick, RI 02886
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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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