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    254 Market St Warren, RI 02885

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    254 Market St Warren, RI 02885

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    • Retail space
    • 6,020 SF
    • 0.56 lot acres
    For Sale
    $149,000
    View Listing →
    Established Pizzeria in High-Traffic Area For Sale
    $149,000

    Established Pizzeria in High-Traffic Area

    Family-owned pizzeria with online client base and diverse menu.

    254 Market Street, Warren, RI 2885
    View Listing
    Property ID
    US76-0174104
    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.
    Value Estimations
    Cap Rate Potential
    9%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Glacier Ice Co / Big Box & Wholesale Store / Distribution Center
    • Malik's Fine Wine & Spirits / (Bike/Boat/Book/etc) Store / Wine and Liquor Store
    • Balasco's Pizzeria / Restaurant

    Property Details for 254 Market St

    Year built
    1990
    Construction
    FRAME
    Lot size
    0.56 lot acres
    Property size
    6,020 SF
    Zone code
    R15
    Property type
    Retail space
    APN
    WARR M:10 L:71
    APU
    WARRM10L71

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,000,000
      ML approach
      $1,000,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,495,000
      6.5%
      $1,380,000
      7%
      $1,280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $629,000
      Market price range: $339k - $1.27M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $895,000
      Current use
      OFFICE BUILDING
      $1,510,000
      Change: +69% Conversion: Easy
      RESTAURANT
      $825,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2739
    Latitude
    41.7334
    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
    $7,667
    $155,300
    $406,000
    $561,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,380 SF

      502 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,380 SF
      502 Main St, Warren, RI 02885-4369
      View Details
    • Value Estimation
      $880,000
      6,119 SF

      582 Metacom Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,119 SF
      582 Metacom Ave, Warren, RI 02885-2807
      View Details
    • Value Estimation by Request
      1,912 SF

      173 Market St

      RETAIL STORES (PERSONAL SERVICES) • 1,912 SF
      173 Market St, Warren, RI 02885-2626
      View Details
    • Value Estimation by Request
      4,803 SF

      29 Market St

      RETAIL STORES (PERSONAL SERVICES) • 4,803 SF
      29 Market St, Warren, RI 02885
      View Details
    • Value Estimation
      $1,695,000
      7,480 SF

      470 Metacom Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,480 SF
      470 Metacom Ave, Warren, RI 02885-2758
      View Details
    • Value Estimation by Request
      2,052 SF

      653 Metacom Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,052 SF
      653 Metacom Ave, Warren, RI 02885-2346
      View Details

    Similar Nearby for Sale

    • $1,750,000
      12,014 SF

      Metacom Avenue Commercial Property

      Commercial property with 14 units, high traffic, and visibility.
      628 Metacom Ave, Warren, RI 02885
      View Details
    • $1,400,000

      Warren Commercial Building For Sale

      Commercial building in a high-visibility location with strong local traffic.
      275 Child St, Warren, RI 02885
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    • $1,750,000

      Versatile Commercial Property on Metacom Avenue

      Commercial property with 14 units, high visibility, and income potential.
      628 Metacom Ave, Warren, RI 02885
      View Details
    • $1,499,000
      0.84 Acres

      Warren RI Investment Opportunity

      Multi-property purchase opportunity in the heart of Warren, Rhode Island.
      367 Child St, Warren, RI 02885
      View Details
    • $699,000

      Mixed-Use Property in Warren

      Multi-building property with commercial and residential units in Warren.
      367 Child St, Warren, RI 02885
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Warren RI Retail/Office Space

      Retail/office space in historic Warren, RI, prime downtown location.
      32 Cole St, Warren, RI 02885
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease.
      601 Metacom Ave, Warren, RI 02885
      View Details
    • $2.00 SF/Yr

      Downtown Warren Office Space Available

      Professional office space in downtown Warren, Rhode Island.
      10 Child St, Warren, RI 02885
      View Details
    • Contact for pricing
      3,000 SF

      Warren Medical Office Space Available

      Medical office space for lease in a convenient East Bay location.
      851 Main St, Warren, RI 02885
      View Details
    • $2.00 SF/Yr

      Downtown Warren Professional Office Space

      Professional office space in downtown Warren near amenities and parking.
      10 Child St, Warren, RI 02885
      View Details
    • $500 /Mo

      Downtown Warren Office Space Available

      Office space in downtown Warren with utilities and parking included.
      16 Miller St, Warren, RI 02885
      View Details
    View Listing
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    254 Market St
    Warren, RI 02885
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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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