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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    45 Nooseneck Hl Rd West Greenwich, RI 02817-1513

    • Showrooms
    • 17,200 SF
    • 3.45 lot acres
    OFF-MARKET
    Value Estimations
    $1,985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0293345
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Guitar Studio, Inc./Matt Kearns Guitarist / Guitar Store / Music Instructor
    • Alexis McKnight: Allstate Insurance / Insurance Agency / Auto Insurance Agency
    • Kearns Matthew / Entertainer
    • Right Choice Physical Therapy / Physical Therapist
    • Preston Detox Consultants / Rehabilitation Center

    Property Details for 45 Nooseneck Hl Rd

    Year built
    1989
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    3.45 lot acres
    Property size
    17,200 SF
    Zone code
    HB
    Property type
    Showrooms
    APN
    WGRE M:006 B:0021 L:4
    APU
    WGREM006B0021L4

    Description

    This exceptional 17,200-square-foot office building, situated on a 1.38-acre lot at 45 Nooseneck Hill Road in West Greenwich, Rhode Island, presents a unique investment opportunity. Built in 1989, the single-story structure features a total of 60 parking spaces, ensuring ample convenience for tenants and visitors. The property is zoned HB and is currently entirely vacant, offering a blank canvas for a new owner or tenant to customize the space to their specific needs. The building's single suite configuration allows for maximum flexibility and control. Common area maintenance (CAM) charges include snow removal, landscaping, and exterior maintenance, along with taxes, simplifying operational costs. This prime location in Kent County, with easy access via Exit 6 Plaza, offers high visibility and potential for strong tenant attraction. The property's size and features make it suitable for a variety of office uses, potentially including traditional office spaces, or even a combination of uses given its previous history as a mixed-use retail and office space. The substantial square footage and ample parking make this a highly desirable property in a thriving Rhode Island community. The property's zip code is 02817.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,139,000
      Market price range: $2.05M - $6.12M
      AI Estimate
      $1,847,000
      Market price range: $1.33M - $4.77M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    West Greenwich
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.6041
    Latitude
    41.6573
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $35,475
    $322,600
    $1,171,100
    $1,493,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,650,000
      18,973 SF

      101 Nooseneck Hl Rd

      SHOW ROOM, WAREHOUSE • 18,973 SF
      101 Nooseneck Hl Rd, West Greenwich, RI 02817-1525
      View Details
    • Value Estimation
      $1,250,000
      6,000 SF

      28 Nooseneck Hl Rd

      SHOW ROOM, WAREHOUSE • 6,000 SF
      28 Nooseneck Hl Rd, West Greenwich, RI 02817-1517
      View Details
    • Value Estimation
      $830,000
      4,416 SF

      14 Victory Hwy

      SHOW ROOM, WAREHOUSE • 4,416 SF
      14 Victory Hwy, West Greenwich, RI 02817-2102
      View Details
    • Value Estimation by Request

      689th Hopkins Hl Rd

      SHOW ROOM, WAREHOUSE
      689th Hopkins Hl Rd, West Greenwich, RI 02817-2563
      View Details
    • Value Estimation
      $18,715,000
      581 SF

      190 New London Tpke

      SHOW ROOM, WAREHOUSE • 581 SF
      190 New London Tpke, West Greenwich, RI 02817
      View Details
    • Value Estimation
      $1,330,000
      14,116 SF

      51 Technology Way

      SHOW ROOM, WAREHOUSE • 14,116 SF
      51 Technology Way, West Greenwich, RI 02817-1713
      View Details

    Similar Nearby for Sale

    • $499,900
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      Prime West Greenwich Commercial Space

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      View Details
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      Retail/Office Building on 0.9 Acres

      1,588 SF building suitable for retail or office use.
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      Storage units with high visibility and unmatched access.
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    • Contact for pricing
      1.97 Acres

      West Greenwich Commercial Land Available

      1.97 acre commercial land for sale in West Greenwich.
      28 Nooseneck Hill Rd, West Greenwich, RI 02817
      View Details

    Similar Nearby for Lease

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      1 SF

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      Prime RI Land, Build-to-Suit Available
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    • $15 SF/Yr

      Warehouse/Flex Space Near Route 3

      Warehouse and flex space available for lease near Route 3.
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      View Details
    • Contact for pricing

      Highway Frontage Land Lease Opportunity

      Two parcels totaling 6.5 acres near Interstate 95.
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      Industrial Land Available For Lease

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      793 Victory Hwy, West Greenwich, RI 02817
      View Details
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    West Greenwich, RI 02817-1513
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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