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    Property profile & analytics

    851 Main St Warren, RI 02885

    • Medical Office Space
    • 8,250 SF
    • 1.74 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0184535
    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

    • Rhode Island Medical Imaging / Medical Clinic
    • Worthington James M MD / Physician
    • Dr. Carolyn B. Day, MD / Physician
    • Colavita M a MD / Physician
    • Bullis David W MD / Physician

    Property Details for 851 Main St

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.74 lot acres
    Property size
    8,250 SF
    Zone code
    VB
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    WARR M:7 L:40
    APU
    WARRM7L40

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,070,000
      RETAIL STORES
      $1,230,000
      RESTAURANT
      $1,130,000
      COMMERCIAL (GENERAL)
      $880,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2821
    Latitude
    41.7199
    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
    $19,258
    $208,900
    $1,200,900
    $1,409,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $690,000
      3,418 SF

      1052 Main St

      MEDICAL BUILDING • 3,418 SF
      1052 Main St, Warren, RI 02885-4404
      View Details
    • Value Estimation
      $510,000
      2,706 SF

      634 Main St

      MEDICAL BUILDING • 2,706 SF
      634 Main St, Warren, RI 02885-4387
      View Details
    • Value Estimation
      $1,165,000
      7,560 SF

      639 Metacom Ave

      MEDICAL BUILDING • 7,560 SF
      639 Metacom Ave, Warren, RI 02885-2348
      View Details
    • Value Estimation by Request
      1,938 SF

      38 State St

      MEDICAL BUILDING • 1,938 SF
      38 State St, Warren, RI 02885-3128
      View Details
    • Value Estimation by Request

      16 Miller St

      Individual retail properties
      16 Miller St, Warren, RI 02885
      View Details
    • Value Estimation
      $515,000
      1,962 SF

      570 Child St

      OFFICE BUILDING • 1,962 SF
      570 Child St, Warren, RI 02885-1733
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.43 Acres

      Office with Secure Outdoor Storage

      Office space with gated, secure outdoor storage included.
      51 Cole St, Warren, RI 02885
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    • Contact for pricing
      0.05 Acres

      Downtown Warren Office Space Available

      Professional office space in downtown Warren, steps from amenities.
      10 Child St, Warren, RI 02885
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    • $1,499,000
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      Warren RI Investment Opportunity

      Multi-property purchase opportunity in the heart of Warren, Rhode Island.
      367 Child St, Warren, RI 02885
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    • $699,000
      0.24 Acres

      Mixed-Use Buildings in Warren, RI

      Three buildings with commercial and residential units, plus detached garage.
      367 Child St, Warren, RI 02885
      View Details
    • Contact for pricing
      400 SF

      Downtown Warren Office Space

      Office space in the heart of downtown Warren, Rhode Island.
      16 Miller St, Warren, RI 02885
      View Details
    • $899,000
      0.60 Acres

      Multifaceted Investment Opportunity in Warren

      Warren, RI property with development potential and existing rental income.
      388 Child St, Warren, RI 02885
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Warren Medical Office Space Available

      Medical office space for lease in a convenient East Bay location.
      851 Main St, Warren, RI 02885
      View Details
    • Contact for pricing
      1,000 SF

      Warren RI Retail/Office Space

      Retail/office space in historic Warren, RI, prime downtown location.
      32 Cole St, Warren, RI 02885
      View Details
    • $500 /Mo
      381 SF

      Downtown Warren Office Space Available

      Office space in downtown Warren with utilities included.
      16 Miller St, Warren, RI 02885
      View Details
    • $2.00 SF/Yr

      Downtown Warren Professional Office Space

      Professional office space in downtown Warren near amenities and parking.
      10 Child St, Warren, RI 02885
      View Details
    • $2,200 /Mo

      Office Rental with Secure Storage

      Office space for rent with included utilities and secure storage.
      51 Cole St, Warren, RI 02885
      View Details
    • Contact for pricing
      129,196 SF

      Ocean State Plaza Retail Space

      Prime Warren, RI Shopping Center Space Available
      601 Metacom Ave, Warren, RI 02885
      View Details
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    851 Main St
    Warren, RI 02885
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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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