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Property profile & analytics
OFF-MARKET
Estimated value
$480,000
Commercial land
425 Mitchells Ln Middletown, RI 02842-5369
Entity Owned
Absentee Owner
Free & Clear
Property ID
US76-0296379
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
171.27 ac (7,460,521 SF)
Zoning code
OS
APN
MIDD M:0124 B:00 L:29
UPID
US76-0296379
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
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$480k
Owner & transaction history
NEWPORT NATL REAL EST LLC
NEWPORT NATL REAL EST LLC
Zoning & alternative use
OS · Middletown, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
oor storage uses and is explained in § 724 . (L) Office Park (OP). This district is established to provide a park-like setting for office uses, certain industrial uses, and miscellaneous compatible uses. (M) Open Space (OS). This district is established to reserve certain areas for conservation of natural resources and open recreational and institutional use…
Zone name
Open Space
General category
CIVIC_INSTITUTIONAL
Zone area
1,412.97 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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$480k
Range $432k – $528k · ±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
—
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
$38,015
Tax year 2024
Assessed value
$2,928,700
Assessed 2024
Previous assessed
$847,800
+245.4% YoY
Effective rate
1.30%
On assessed value
Assessed land
$2,928,700
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
171.27 ac (7,460,521 SF)
Zoning code
OS
APN
MIDD M:0124 B:00 L:29
UPID
US76-0296379
Jurisdiction
MIDDLETOWN
Zoning & alternative use
OS · Middletown, RIZoning OS · permitted uses
OS · Middletown, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
oor storage uses and is explained in § 724 . (L) Office Park (OP). This district is established to provide a park-like setting for office uses, certain industrial uses, and miscellaneous compatible uses. (M) Open Space (OS). This district is established to reserve certain areas for conservation of natural resources and open recreational and institutional uses. (N) Public (P). This district is established to provide for major public lands
Zone name
Open Space
General category
CIVIC_INSTITUTIONAL
Zone area
1,412.97 ac
Source
§ 502 OFFICIAL ZONING MAP.
Building & site characteristics
From public records
Heating
NONE
Lot
171.27 ac
Current owner
From public records · entity-resolved
NEWPORT NATL REAL EST LLC
Entity
Free & Clear · 0 yrs held
Mailing address
295 CANAL ST STE #500, MALDEN, MA 02148-6718
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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