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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Industrial properties
42 Westfield St Providence, RI 02907-2427
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US76-0388549
Property summary
AI-generated overview
This exceptional Providence, RI industrial property, located at 42 Westfield St, 02907, presents a significant investment opportunity. Boasting 32,670 square feet of space, this warehouse and manufacturing facility features a 16-foot clear ceiling height, providing ample room for storage and operations. The property sits on a 25,861 square foot lot, offering convenient access and maneuverability. Three drive-in doors ensure efficient loading and unloading, while three-phase power is readily available to support various industrial applications. Its strategic location in Providence offers businesses the advantage of urban proximity combined with logistical efficiency, making it an ideal choice for companies seeking a balance between accessibility and local resources within a thriving regional market. The property's layout is well-suited for storage and warehousing needs, enhancing operational efficiency. The asking price is $2,100,000. This property represents a compelling opportunity to acquire a well-situated industrial asset in a dynamic market.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,670 SF
Lot
0.61 ac (26,522 SF)
Zoning code
M-MU-7
APN
PROV M:30 L:394
UPID
US76-0388549
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
-
Safe-Way Electric Motor Co Inc Electric Motor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$749k
Blend (final)
Blend
$1.06M
Owner & transaction history
Karim Jouki · 1 yrs held
Karim Jouki
since 2024
6 recorded transactions
Zoning & alternative use
M-MU-7 · Providence, 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 Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Providence 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
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±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
$43 / 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
$24,124
Tax year 2024
Assessed value
$687,300
Assessed 2024
Previous assessed
$687,300
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$89,900
Assessed improvement
$597,400
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Buildings
1
Stories
2
Units
1
Total area
24,670 SF
Lot
0.61 ac (26,522 SF)
Zoning code
M-MU-7
APN
PROV M:30 L:394
UPID
US76-0388549
Jurisdiction
PROVIDENCE
Zoning & alternative use
M-MU-7 · Providence, RI
Zoning M-MU-7 · permitted uses
M-MU-7 · Providence, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Providence. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1920
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
2
Buildings
1
Units
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Karim Jouki
Individual
Mailing address
217 WHITNEY ST, NORTHBOROUGH, MA 01532-1405
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2024
—
Karim Jouki
Marcone Medeiros
Warranty Deed
—
Aug 27, 2024
$1,100,000
Marcone Medeiros
Philip Korn
Warranty Deed
—
Jun 29, 2021
—
Philip Korn
Brenda Korn Ret
Deed
—
Sep 16, 2014
—
Korn,brenda Trust
Korn,david & Brenda
Warranty Deed
—
Sep 9, 2003
—
David M Korn
—
Deed Of Trust
related
$51,070 · Domestic Bank
Aug 27, 2003
—
David Korn
—
Deed Of Trust
related
$135,000 · B C J K Corp
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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