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Property profile & analytics
OFF-MARKET
Estimated value
$2,115,000
Showrooms
31 Main Rd Middletown, RI 02842-4932
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US76-0378560
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,380 SF
Lot
0.74 ac (32,234 SF)
Zoning code
OBA
APN
MIDD M:0108 B:SW L:138
UPID
US76-0378560
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rodeway Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$1.62M
Blend (final)
Blend
$2.12M
Owner & transaction history
Fame & Joy LLC · 6 yrs held
Fame & Joy LLC
since 2019
7 recorded transactions
Zoning & alternative use
OBA · Middletown, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Middletown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Middletown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,765,000
6.5%
$2,550,000
7%
$2,370,000
Blend value · Realmo final
$2.12M
Range $1.90M – $2.33M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$38,623
Tax year 2024
Assessed value
$2,975,600
Assessed 2024
Previous assessed
$2,205,900
+34.9% YoY
Effective rate
1.30%
On assessed value
Assessed land
$1,049,200
Assessed improvement
$1,926,400
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
2
Units
42
Total area
16,380 SF
Lot
0.74 ac (32,234 SF)
Zoning code
OBA
APN
MIDD M:0108 B:SW L:138
UPID
US76-0378560
Jurisdiction
MIDDLETOWN
Zoning & alternative use
OBA · Middletown, RI
Zoning OBA · permitted uses
OBA · Middletown, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Middletown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Units
42
Lot
0.74 ac
Current owner
From public records · entity-resolved
Fame & Joy LLC
Entity
Mailing address
PO BOX 3521, NEWPORT, RI 02840-0300
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2019
$2,550,000
Fame & Joy LLC
Pareshkumar Patel
Warranty Deed
—
Nov 20, 2019
—
Pareshkumar Patel
Radha Krishna LLC
Warranty Deed
—
Jul 31, 2019
—
Radha Krishna LLC
—
Deed
related
$100,000 · Centreville Bk
Jun 18, 2008
—
Radha Krishna LLC
—
Deed Of Trust
related
$50,000 · Bank Of Newport
May 9, 2007
$2,200,000
Radha Krishna LLC
Jailhouse Inn
Grant Deed
—
Jan 30, 1998
$1,035,000
Jailhouse Inn INC
One Mile Corner Motels
Grant Deed
$735,000 · Bank Of Newport
—
—
Radha Krishna LLC
—
Deed Of Trust
related
$1,085,000 · Centreville Bk
—
—
Radha Krishna LLC
—
Deed Of Trust
related
$100,000 · Centreville Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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