Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2974 Main Rd Portsmouth, RI 02871-4232
    Back to Search
    Property profile & analytics

    2974 Main Rd, Portsmouth, RI 02871-4232

    View on Map
    • Showrooms
    • 4,077 SF
    • 0.69 lot acres
    Off-Market
    Property ID
    US76-0043799
    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
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Looking Upwards / Social Service Agency / Charitable Organization
    • Black Point Financial / Financial Advisor

    Property Details for 2974 Main Rd

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.69 lot acres
    Zone code
    C
    Property type
    Showrooms
    APN
    PORT M:031 B:0026
    APU
    PORTM031B0026

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 28, 2022 — Looking Upwards INC — Deed · related $1.4M · Bank Rhode Island
    Apr 1, 2016 $480,000 Looking Upwards INC Vma Group Properties LLC Warranty Deed $364k · Citizens Bk/ri

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $728,000
      Market price range: $509k - $1.25M
      AI Estimate
      $412,000
      Market price range: $225k - $783k

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

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.2473
    Latitude
    41.6097
    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
    $5,883
    $258,400
    $201,900
    $460,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $960,000
      6,906 SF

      1250 Main Rd

      SHOW ROOM, WAREHOUSE
      1250 Main Rd, Portsmouth, RI 02871-2339
      View Details
    • Value Estimation
      $635,000
      3,415 SF

      145 Sakonnet Dr

      SHOW ROOM, WAREHOUSE
      145 Sakonnet Dr, Portsmouth, RI 02871-5919
      View Details
    • Value Estimation by Request
      8,269 SF

      161 Willow Ln

      SHOW ROOM, WAREHOUSE
      161 Willow Ln, Portsmouth, RI 02871-1613
      View Details
    • Value Estimation
      $1,415,000
      15,000 SF

      King Phillip St

      SHOW ROOM, WAREHOUSE
      King Phillip St, Portsmouth, RI 02871
      View Details
    • Value Estimation
      $920,000
      4,880 SF

      2340 Main Rd

      SHOW ROOM, WAREHOUSE
      2340 Main Rd, Portsmouth, RI 02871-1035
      View Details
    • Value Estimation by Request
      2,880 SF

      1955 Main Rd

      SHOW ROOM, WAREHOUSE
      1955 Main Rd, Portsmouth, RI 02871-1293
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Lot on East Main

      Commercial property with high visibility and great potential uses.
      1074 East Main Rd, Portsmouth, RI 02871
      View Details
    • Contact for pricing
      1,104 SF

      Portsmouth Commercial Condo For Sale

      Commercial condominium in Portsmouth, RI, ideal for retail or offices.
      171 Chase Ave, Portsmouth, RI 02871
      View Details
    • Contact for pricing
      7,584 SF

      Versatile Commercial Building on Main Road

      7,584 SF commercial building on 1.55 acres.
      1960 E Main Rd, Portsmouth, RI 02871
      View Details
    • Contact for pricing

      Commercial Lot on East Main

      Commercial property with storage shed and business potential.
      1074 East Main Rd, Portsmouth, RI 02871
      View Details
    • $1,950,000
      1.55 Acres

      Prime Portsmouth Commercial Property

      Versatile 7,584 SF building on 1.55 acres
      1960 Main Rd, Portsmouth, RI 02871
      View Details
    • Contact for pricing

      Victorian Property on East Main

      Charming Victorian property with versatile potential in a coveted location.
      2952 East Main Rd, Portsmouth, RI 02871
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      27,300 SF

      Aquidneck Island Industrial/Office Space

      Industrial/office space ideal for distribution and marine trades.
      1170 E Main Rd, Portsmouth, RI 02871
      View Details
    • Contact for pricing

      Commercial Land with Storage Shed

      Commercial property with storage shed and high visibility.
      1074 East Main Rd, Portsmouth, RI 02871
      View Details
    • Contact for pricing

      Commercial Lot with Storage Shed

      Commercial property with storage shed available for rent.
      1074 East Main Rd, Portsmouth, RI 02871
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2974 Main Rd
    Portsmouth, RI 02871-4232
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2974 Main Rd, Portsmouth, RI, 02871
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!