Individually Owned Property summary
AI-generated overview
This 725-square-foot office suite, located at 29 Smith Ave in Smithfield, RI 02828, is available for lease. Situated in a Class C building constructed in 1989 and renovated in 2020, this single-tenant space offers a versatile layout ideal for various professional uses. The suite boasts two large offices, a private bathroom, a dedicated waiting area, and a private entrance, ensuring privacy and convenience. Ample parking is available with 16 total spaces. The property features gas heating and central air conditioning for year-round comfort. Its convenient location off Route 44 provides easy access to nearby shopping centers. The suite is perfect for businesses such as accounting, real estate, insurance, or creative professionals. The space is in a two-story building and does not include elevators. The monthly rent is $1,000 plus utilities. The property is categorized as a Traditional Office, Creative Office, and Coworking space within the Providence, Providence County submarket, specifically the Smithfield, Providence, Route 44 cluster.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1989
Construction
FRAME
Total area
4,356 SF
Lot
0.3 ac (13,068 SF)
Zoning code
V
APN
SMIT M:06 B:000 L:162 U:
UPID
US76-0160238
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Architect
-
Family Counselor
-
Counselor
-
Bar & Pub
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$413k
Blend (final)
Blend
$585k
Owner & transaction history
since 2021
Last sale
$500,000
2 recorded transactions
Zoning & alternative use
V · Greenville, RI
Top alternative use upside
Office building
$835,000
+50.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 27 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$585k
Value range
$527k – $644k
±10% around blend
Estimated value / SF
$134 / SF
Confidence
High
27 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
100
$527k
blend $585k
$644k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,356 SF
Lot area
0.3 ac
Year built
1989
Stories
2
APN
SMIT M:06 B:000 L:162 U:
Zoning
V
Assessed value
$461,700
Annual tax
$8,865
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$857k
Weighted, 20 comps · high confidence
Evidence
27 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.1 mi away · 4,476 SF
5.0 mi away · 3,232 SF
5.3 mi away · 4,680 SF
6.2 mi away · 5,346 SF
6.2 mi away · 5,346 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$585k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 43 sales
$127
+5%
County 1487 sales
$146
-8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $134/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+50%
vs current-use indication
Commercial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 27 sales
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
Implied cap rate
8.80%
Implied, in-place cap rate for this showrooms
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.80%
9.0%
NOI (est.)
$35k *
Last sale · Jul 2021
$500k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$398k
Move the market yield to see immediate price impact.
Value / SF
$91
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.30%8.80%9.30%
$32k
$380k
$358k
$339k
$35k
$422k
$398k
$376k
$39k
$464k
$437k
$414k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
27 found
High confidence · county-verified
Closest comparable
$1.20M
1.2 mi · Apr 2026 · $229/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,865
Tax year 2023
Assessed value
$461,700
Assessed 2023
Previous assessed
$461,700
+0.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$157,500
Assessed improvement
$304,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
4
Total area
4,356 SF
Lot
0.3 ac (13,068 SF)
Zoning code
V
APN
SMIT M:06 B:000 L:162 U:
UPID
US76-0160238
Jurisdiction
SMITHFIELD
Zoning & alternative use
V · Greenville, RIZoning V · permitted uses
V · Greenville, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
4
Lot
0.3 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
V
Jurisdiction
Greenville, RI
Recorded code
V
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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