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    Property profile & analytics

    74 College St Warwick, RI 02886

    • Industrial properties
    • 9,240 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Mar 23, 2025
    $722,500
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    8.7%
    Industrial properties
    Location Intelligence
    Property ID
    US76-0198803
    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

    • Industrial properties

    Property Details for 74 College St

    Year built
    1975
    Construction
    STEEL FRAME
    Lot size
    0.90 lot acres
    Property size
    9,240 SF
    Zone code
    WB
    Property type
    Industrial properties
    APN
    WARW M:245 B:0034 L:0000
    APU
    WARWM245B0034L0000

    Description

    This exceptional 9,240-square-foot industrial property, located at 74 College Street in Warwick, Rhode Island, presents a compelling owner-user investment opportunity. Situated on a sizable 1.48-acre lot encompassing three separate parcels (Plat 245/Lots 34, 35, and 386), this warehouse and manufacturing space offers significant potential. The building features convenient access to major roadways, including I-95 and I-295, ensuring efficient transportation and logistics. Loading and unloading are facilitated by two covered exterior loading docks and a 12-foot high by 10-foot wide grade-level door. Ample paved parking and loading areas are available on-site. The property is zoned WB (Waterfront Business District), providing flexibility for various industrial uses. Annual property taxes are $13,584.18. This turnkey industrial space is ready for immediate occupancy and offers a rare combination of size, location, and functionality. The property's strategic location and robust infrastructure make it an ideal choice for businesses seeking a well-equipped and conveniently situated industrial facility in the thriving Warwick market. Don't miss this chance to acquire a prime industrial asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $495,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $715,000
      6.5%
      $660,000
      7%
      $615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $954,000
      Market price range: $954k - $1.85M
      AI Estimate
      $663,000
      Market price range: $320k - $1.40M

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.4553
    Latitude
    41.6985
    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
    2023
    $11,608
    $108,200
    $359,300
    $467,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,640,000
      50,425 SF

      171 Service Ave

      INDUSTRIAL (GENERAL) • 50,425 SF
      171 Service Ave, Warwick, RI 02886-1014
      View Details
    • Value Estimation by Request
      15,525 SF

      33 Plan Way

      Distribution properties • 15,525 SF
      33 Plan Way, Warwick, RI 02886
      View Details
    • Value Estimation
      $10,850,000
      82,960 SF

      400 Knight St

      CONDOMINIUMS (INDUSTRIAL) • 82,960 SF
      400 Knight St, Warwick, RI 02886-1250
      View Details
    • Value Estimation
      $700,000
      10,000 SF

      132 Mdw St

      INDUSTRIAL (GENERAL) • 10,000 SF
      132 Mdw St, Warwick, RI 02886-6909
      View Details
    • Value Estimation
      $11,525,000
      167,067 SF

      100 Warwick Industrial Dr

      INDUSTRIAL (GENERAL) • 167,067 SF
      100 Warwick Industrial Dr, Warwick, RI 02886-2417
      View Details
    • Value Estimation
      $2,195,000
      14,841 SF

      100 Commerce Dr

      INDUSTRIAL (GENERAL) • 14,841 SF
      100 Commerce Dr, Warwick, RI 02886-2430
      View Details

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      70,000 SF flex space available for lease in Warwick.
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      Full-service nursery, landscaping, and snow removal business for sale.
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    Similar Nearby for Lease

    • $4,500 /Mo
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      Flex Space with Warehouse

      Move-in ready flex space with warehouse in Warwick, RI.
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      View Details
    • $12 SF/Yr
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      Flex/RD space featuring showroom, offices, and warehouse.
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      Warehouse/Office Building with Shipping Dock

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      10,450 SF

      Warwick Industrial Building For Lease

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      1,272 SF

      Warwick Warehouse Space For Rent

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      View Details
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    74 College St
    Warwick, RI 02886
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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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