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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Commercial real estate
43 Spg St, Block Island, RI 02807
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US76-0116168
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1892
Construction
FRAME
Total area
3,800 SF
Lot
1.64 ac (71,438 SF)
Zoning code
RCM
APN
BLOC M:07 L:007
UPID
US76-0116168
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
-
The 1661 Inn Hotel & Motel
-
Block Island Resorts Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$1.16M
Blend (final)
Blend
$840k
Owner & transaction history
Block Island Resorts INC · 13 yrs held
Block Island Resorts INC
since 2013
1 recorded transaction
Zoning & alternative use
RCM · Block Island, 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 Block Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Block Island 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%
$640,000
6.5%
$590,000
7%
$550,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$780,000
Current use
OFFICE BUILDING
$665,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$221 / 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
$20,962
Tax year 2024
Assessed value
$3,797,500
Assessed 2024
Previous assessed
$3,797,500
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$1,171,200
Assessed improvement
$2,626,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1892
Construction
FRAME
Heating
HOT WATER
Buildings
4
Stories
2
Units
9
Total area
3,800 SF
Lot
1.64 ac (71,438 SF)
Zoning code
RCM
APN
BLOC M:07 L:007
UPID
US76-0116168
Jurisdiction
BLOCK ISLAND
Zoning & alternative use
RCM · Block Island, RI
Zoning RCM · permitted uses
RCM · Block Island, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Block Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$780,000
OFFICE BUILDING
Est. value
$665,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1892
Construction
FRAME
Heating
HOT WATER
Stories
2
Buildings
4
Units
9
Lot
1.64 ac
Current owner
From public records · entity-resolved
Block Island Resorts INC
Entity
Mailing address
PO BOX I I, BLOCK ISLAND, RI 02807
Ownership since
2013
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
Feb 28, 2013
—
Block Island Resorts INC
—
Deed Of Trust
related
$2,000,000 · Washington Trust Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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