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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Investment properties
42 Wave Ave 44 Middletown, RI 02842-7009
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US76-0378574
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,575 SF
Lot
0.18 ac (7,841 SF)
Zoning code
LB
APN
MIDD M:0116 B:NW L:6
UPID
US76-0378574
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
by Request
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$378k
Blend (final)
Blend
$570k
Owner & transaction history
Atlantic Bch Suites 2 LLC · 23 yrs held
Atlantic Bch Suites 2 LLC
since 2003
3 recorded transactions
Zoning & alternative use
LB · Middletown, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Limited Business (LB). This district is established to provide areas for day-to-day localized shopping needs, convenience shopping services to neighborhood areas, and to provide limited specialized business uses in certain parts of town. Within the LB District, mixed-use development projects are also allowed as an option to provide for village-style developm…
Zone name
Limited Business
General category
MIXED_USE
Zone area
30.79 ac
Source
§ 502 OFFICIAL ZONING MAP.
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%
$770,000
6.5%
$715,000
7%
$660,000
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$125 / 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
Assessed value
$694,500
Assessed 2024
Previous assessed
$497,200
+39.7% YoY
Assessed land
$343,100
Assessed improvement
$351,400
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
1
Stories
2
Units
3
Total area
4,575 SF
Lot
0.18 ac (7,841 SF)
Zoning code
LB
APN
MIDD M:0116 B:NW L:6
UPID
US76-0378574
Jurisdiction
MIDDLETOWN
Zoning & alternative use
LB · Middletown, RIZoning LB · permitted uses
LB · Middletown, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Limited Business (LB). This district is established to provide areas for day-to-day localized shopping needs, convenience shopping services to neighborhood areas, and to provide limited specialized business uses in certain parts of town. Within the LB District, mixed-use development projects are also allowed as an option to provide for village-style development of a mix of uses, including multi- family residential, small-scale retail, office, and public uses, while preserving open space, and to limit commercial sprawl. (J)
Zone name
Limited Business
General category
MIXED_USE
Zone area
30.79 ac
Source
§ 502 OFFICIAL ZONING MAP.
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
2
Buildings
1
Units
3
Lot
0.18 ac
Current owner
From public records · entity-resolved
Atlantic Bch Suites 2 LLC
Entity
Mailing address
93 MIANTONOMI AVE, MIDDLETOWN, RI 02842-5428
Ownership since
2003
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
Feb 2, 2012
—
Atlantic Beach Suites LLC
—
Deed Of Trust
related
$500,000 · Bank Of Rhode Island
Apr 3, 2003
$1,175,000
Atlantic Bch Suites 2 LLC
Zaloumis,charles
Grant Deed
$1,000,000 · Sovereign Bank
Apr 3, 2003
—
Atlantic Bch Suites 2 LLC
—
Deed Of Trust
related
$2,650,000 · Sovereign 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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