288 Market St Warren, RI 02885-2609
Property Lookup
Property profile & analytics
288 Market St Warren, RI 02885-2609
- Specialty properties
- 12,482 SF
- 0.74 lot acres
Property ID
US76-0127990
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.
Location Intelligence
Current Use by Public Records
- Harbor Animal Hospital / Veterinary Clinic
Property Details for 288 Market St
- Year built
- 1960
- Construction
- STEEL FRAME
- Lot size
- 0.74 lot acres
- Property size
- 12,482 SF
- Zone code
- RB
- Property type
- Specialty properties
- APN
- WARR M:21 L:112
- APU
- WARRM21L112
Description
This 14,500 sq ft medical office building in Warren, RI, is currently 100% occupied by Heart & Paw Animal Hospital under a single-tenant lease with approximately 7.1 years remaining. The lease features built-in rental increases of 40% every six years (contingent on revenue benchmarks) and 2% annually during the two five-year option periods, providing significant inflation protection. The property boasts a below-market rent, presenting substantial upside potential for future income growth. Located near historic downtown Warren, the building benefits from high foot traffic and convenient access to Route 195, a major thoroughfare with over 150,000 daily vehicle trips. The property sits on a 0.74-acre lot and was built in 1960. The strong tenant, Heart & Paw, is part of Vetcor, a large national veterinary operator, ensuring financial stability and resilience to economic downturns. The property's location serves a dense, affluent population of approximately 177,319 residents within a five-mile radius, with an average income exceeding $147,355. The asking price is $1,600,000, representing a 7.50% cap rate and a price per square foot of $110.34. The current Net Operating Income (NOI) is $120,000. This presents a compelling investment opportunity with significant long-term growth potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $525,000
-
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $340,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Bristol
- State
- Rhode Island
- Longitude
- -71.2748
- Latitude
- 41.7363
- 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
$16,515
$163,500
$1,045,500
$1,209,000
-
$0.00
$0.00
$0.00
