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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    359 Wood St Bristol, RI 02809-2362

    • Investment properties
    • 2,600 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Sep 18, 2023
    $923,100
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    3.3%
    Investment properties
    Location Intelligence
    Property ID
    US76-0044987
    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.

    Current Use by Public Records

    • Mello's Shoe Services / Shoe Repair Shop
    • Van's Spa / Diner / Breakfast Restaurant

    Property Details for 359 Wood St

    Year built
    1956
    Lot size
    0.21 lot acres
    Property size
    2,600 SF
    Zone code
    R-6
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    BRIS M:18 L:52
    APU
    BRISM18L52

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,105,000
      ML approach
      $1,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $725,000
      Market price range: $274k - $725k

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2717
    Latitude
    41.6719
    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
    $9,393
    $140,300
    $562,800
    $703,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $380,000
      4,792 SF

      55 State St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,792 SF
      55 State St, Bristol, RI 02809-1828
      View Details
    • Value Estimation
      $115,000
      2,460 SF

      366 Wood St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,460 SF
      366 Wood St, Bristol, RI 02809-2308
      View Details
    • Value Estimation
      $320,000
      3,600 SF

      49 Bradford St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,600 SF
      49 Bradford St, Bristol, RI 02809-1906
      View Details
    • Value Estimation
      $440,000
      19,297 SF

      20 Burnside St

      OFFICE/RESIDENTIAL (MIXED USE) • 19,297 SF
      20 Burnside St, Bristol, RI 02809-2086
      View Details
    • Value Estimation
      $275,000
      3,564 SF

      73 Church St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,564 SF
      73 Church St, Bristol, RI 02809-2223
      View Details
    • Value Estimation
      $315,000
      4,595 SF

      178 High St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,595 SF
      178 High St, Bristol, RI 02809-2260
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.60 Acres

      Downtown Bristol Office Space Available

      Office spaces in downtown Bristol, RI with utilities included.
      399 Hope St, Bristol, RI 02809
      View Details
    • $1,995,000
      6,516 SF

      382 Thames St, Bristol, RI 02809

      Commercial real estate • 6,516 SF
      382 Thames St, Bristol, RI 02809
      View Details
    • $649,000

      Historic Multifamily Property in Bristol

      Multifamily property in the heart of historic downtown Bristol.
      34 Central St, Bristol, RI 02809
      View Details
    • Contact for pricing
      0.37 Acres

      Office Suites on Hope Street

      Office suites available on heavily traveled Hope Street.
      970 Hope St, Bristol, RI 02809
      View Details
    • $199,000
      0.21 Acres

      Residential Land in Bristol Narrows

      Buildable wooded lot in sought-after Bristol neighborhood.
      Platt St, Bristol, RI 02809
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      80,000 SF

      Bristol Shopping Center Opportunity

      Prime RI Retail Space Available
      6-40 Gooding Ave, Bristol, RI 02809
      View Details
    • $9 SF/Yr
      22,280 SF

      East Bay Industrial Space

      Industrial space for lease in Bristol, Rhode Island.
      66 Tupelo St, Bristol, RI 02809
      View Details
    • $12 SF/Yr
      10,560 SF

      Updated Industrial Space Available

      5,325 SF industrial space with high ceilings and large door.
      55 Ballou Blvd, Bristol, RI 02809
      View Details
    • $25 SF/Yr
      3,102 SF

      Waterfront Restaurant Space on Thames

      Partially equipped restaurant space with harbor views and full liquor.
      205 Thames St, Bristol, RI 02809
      View Details
    • Contact for pricing
      3,000 SF

      Prime Retail Space Available

      Retail space in East Bay's best location for rent.
      576 Metacom Ave, Bristol, RI 02809
      View Details
    • $10 SF/Yr
      20,000 SF

      Modern Manufacturing Warehouse Space

      Class A warehouse and manufacturing facility built in 2008.
      33 Broadcommon Rd, Bristol, RI 02809
      View Details
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    359 Wood St
    Bristol, RI 02809-2362
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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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