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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Showrooms
37 Main St, Westerly, RI 02891-2163
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US76-0301493
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,854 SF
Lot
0.14 ac (6,245 SF)
APN
WEST M:56 B:10
UPID
US76-0301493
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
-
River Bar Restaurant Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$990k
CAP Approach
CAP
$755k
Comparable Approach
Comparable
$885k
Blend (final)
Blend
$990k
Owner & transaction history
River Bar Pro LLC · 2 yrs held
River Bar Pro LLC
since 2024
Last sale
$991,250
3 recorded transactions
Zoning & alternative use
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 Westerly submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westerly 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
$990,000
ML approach
$990,000
CAP Approach
CAP Return
Estimation
6%
$820,000
6.5%
$755,000
7%
$700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,010,000
Current use
OFFICE BUILDING
$850,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $991k (Jun 18 2024)
Last sale anchor
$991k
Jun 18 2024
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
$204 / 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
$8,383
Tax year 2024
Assessed value
$802,200
Assessed 2024
Previous assessed
$802,200
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$319,400
Assessed improvement
$482,800
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
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Total area
4,854 SF
Lot
0.14 ac (6,245 SF)
APN
WEST M:56 B:10
UPID
US76-0301493
Jurisdiction
WESTERLY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$850,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
River Bar Pro LLC
Entity
Mailing address
37 MAIN ST, WESTERLY, RI 02891-2163
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2024
$991,250
River Bar Pro LLC
3 Fish LLC
Warranty Deed
$1,000,000 · Wh Properties INC
Feb 18, 1997
$230,000
Altair Investments LLC
Buffum & Rossin Realty
Grant Deed
$105,000 · Zenon Grzybowski
Jul 18, 1990
—
Herman L Clary JR.
—
Deed Of Trust
related
$60,000 · Washington Trust Co
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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