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Property profile & analytics
OFF-MARKET
Estimated value
$1,910,000
Turn key restaurants
382 Market St Warren, RI 02885-2640
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US76-0234006
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1990
Construction
FRAME
Total area
7,345 SF
Lot
1.31 ac (57,064 SF)
Zoning code
RB
APN
WARR M:22 L:135
UPID
US76-0234006
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
-
Palmer River Grille LLC Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.91M
Owner & transaction history
Gorman Restaurant Group · 4 yrs held
Gorman Restaurant Group
since 2021
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
RB · Warren, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is to establish and maintain a zoning district of mixed commercial uses characterized by architectural and site design standards consistent with providing a aesthetically unobtrusive gateway to the Town
Zone name
Rural Business
General category
COMMERCIAL
Zone area
176.25 ac
Source
Realmo
Top alternative use upside
Office building
$1.8M
+83.7%
Retail stores
$1.1M
+8.9%
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 Warren submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Warren 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
$1,910,000
ML approach
$2,045,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,845,000
Change: +84% · Conversion: Moderate
RETAIL STORES
$1,095,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.91M
Range $1.72M – $2.10M · ±10% · vs last sale $1.58M (Dec 21 2021)
Last sale anchor
$1.58M
Dec 21 2021
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
$260 / 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
$16,481
Tax year 2023
Assessed value
$1,206,500
Assessed 2023
Previous assessed
$1,206,500
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$189,400
Assessed improvement
$1,017,100
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1990
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
3
Total area
7,345 SF
Lot
1.31 ac (57,064 SF)
Zoning code
RB
APN
WARR M:22 L:135
UPID
US76-0234006
Jurisdiction
WARREN
Zoning & alternative use
RB · Warren, RIZoning RB · permitted uses
RB · Warren, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is to establish and maintain a zoning district of mixed commercial uses characterized by architectural and site design standards consistent with providing a aesthetically unobtrusive gateway to the Town
Zone name
Rural Business
General category
COMMERCIAL
Zone area
176.25 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
RETAIL STORES
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
1990
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
3
Lot
1.31 ac
Current owner
From public records · entity-resolved
Gorman Restaurant Group
Entity
Mailing address
382 MARKET ST, WARREN, RI 02885-2640
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2021
$1,575,000
Gorman Restaurant Group
Renaissance Dev Corp
Warranty Deed
$1,211,250 · Centreville Bank
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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