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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Showrooms
38 Dr Marcus Wheatland Blvd Newport, RI 02840-2049
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US76-0228935
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,536 SF
Lot
0.16 ac (7,009 SF)
Zoning code
GB
APN
NEWP M:017 B:0280
UPID
US76-0228935
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
Nv Wheatland LLC · 1 yrs held
Nv Wheatland LLC
since 2025
Last sale
$1.8M
6 recorded transactions
Zoning & alternative use
GB · Newport, 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 Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport 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
$1,565,000
ML approach
$1,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±10% · vs last sale $1.75M (May 21 2025)
Last sale anchor
$1.75M
May 21 2025
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
$467 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$8,709
Tax year 2023
Assessed value
$585,300
Assessed 2023
Previous assessed
$585,300
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$210,000
Assessed improvement
$375,300
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
5
Bathrooms
1
Total area
3,536 SF
Lot
0.16 ac (7,009 SF)
Zoning code
GB
APN
NEWP M:017 B:0280
UPID
US76-0228935
Jurisdiction
NEWPORT
Zoning & alternative use
GB · Newport, RI
Zoning GB · permitted uses
GB · Newport, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
5
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Nv Wheatland LLC
Entity
Mailing address
38 DR MARCUS WHEATLAND BLVD, NEWPORT, RI 02840-2049
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2025
$1,750,000
Nv Wheatland LLC
Dereke Mays
Warranty Deed
$1,070,000 · Banknewport
Oct 26, 2022
—
Dereke Mays
—
Deed
related
$610,000 · Centreville Bank
Jan 7, 2020
$625,000
M & J Inv LLC
Mcg Real Cnslts
Warranty Deed
$565,000 · Mcg R/e Cons
Nov 1, 2007
—
Mcg Re Consultants
—
Deed Of Trust
related
$50,000 · Bank Of Newport
Jan 16, 2003
$315,000
M C G Re Consultant LLC
New Visions Newport INC
Grant Deed
$237,000 · Bank Of Newport
Jan 16, 2003
—
M C G Re Consultant LLC
—
Deed Of Trust
related
$50,000 · Bank Of Newport
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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