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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Industrial properties
6 Chases Ln Central Falls, RI 02863-1504
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US76-0322852
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,956 SF
Lot
0.34 ac (14,902 SF)
Zoning code
M-2
APN
CENT M:02 P:180
UPID
US76-0322852
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
-
Fuerza Laboral Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$710k
CAP Approach
CAP
$640k
Comparable Approach
Comparable
$860k
Blend (final)
Blend
$665k
Owner & transaction history
Fuerza Laboral · 3 yrs held
Fuerza Laboral
since 2023
Last sale
$645,000
4 recorded transactions
Zoning & alternative use
M-2 · Central Falls, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
M-2 heavy industrial district. This zone is intended to provide for areas for heavy industrial uses, especially for those uses that are potentially hazardous, noxious or incompatible with the uses in any other zone. 101.4 - Overlay zoning districts. These are districts that are superimposed on existing zoning district(s) or part of a district and which impos…
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
94.35 ac
Source
Zoning Ordinance
Top alternative use upside
Commercial (general)
$935,000
+41.8%
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 Central Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Central Falls 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
$695,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$640,000
7%
$595,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$660,000
Current use
COMMERCIAL (GENERAL)
$935,000
Change: +42% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $645k (Mar 31 2023)
Last sale anchor
$645k
Mar 31 2023
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
$84 / 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
$7,341
Tax year 2024
Assessed value
$237,200
Assessed 2024
Previous assessed
$237,200
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$83,700
Assessed improvement
$153,500
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
4
Total area
7,956 SF
Lot
0.34 ac (14,902 SF)
Zoning code
M-2
APN
CENT M:02 P:180
UPID
US76-0322852
Jurisdiction
CENTRAL FALLS
Zoning & alternative use
M-2 · Central Falls, RIZoning M-2 · permitted uses
M-2 · Central Falls, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
M-2 heavy industrial district. This zone is intended to provide for areas for heavy industrial uses, especially for those uses that are potentially hazardous, noxious or incompatible with the uses in any other zone. 101.4 - Overlay zoning districts. These are districts that are superimposed on existing zoning district(s) or part of a district and which impose specified requirements in addition to those otherwise applicable and/or allow alternate uses. HD historic district. This overlay zone is intended to preserve structures of historic and architectural value by regulating the construction, alteration, repair, moving and demolition of such structures. This overlay zone may include single buildings and/or lots. MBRD mill building re-use district This overlay zone allows the development of obsolete industrial sites according to a plan for mixed use. OMUSOD Osram mixed-use special overlay district. In addition to and in furtherance of the purposes of the MBRD overlay zone, this overlay zone is meant to further promote redevelopment of existing and obsolete industrial mill structures located within this new OMUSOD overlay zone. The OMUSOD will encompass the improved properties located within an area bounded, northerly, by
Zone name
Heavy Industrial
General category
INDUSTRIAL
Zone area
94.35 ac
Source
Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$660,000
COMMERCIAL (GENERAL)
Est. value
$935,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
4
Lot
0.34 ac
Current owner
From public records · entity-resolved
Fuerza Laboral
Individual
Mailing address
131 CLAY ST, CENTRAL FALLS, RI 02863-3056
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$645,000
Fuerza Laboral
Richard Kazarian
Warranty Deed
$400,000 · Cooperative Fund Of New England
Sep 23, 2022
—
Richard Kazarian
Thomas B Conley
Redemption Deed
related
—
Jul 9, 2021
$21,006
Richard Kazarian
Central Falls Town Of
Public Action
related
—
Apr 4, 2016
$200,000
Richard Kazarian
Chace Corp
Warranty Deed
$200,000 · Chace 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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