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    941 Shr Rd Warwick, RI 02889-2740
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    Property profile & analytics

    941 Shr Rd Warwick, RI 02889-2740

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    • Investment properties
    • 4,440 SF
    • 0.10 lot acres
    Off-Market
    Property ID
    US76-0133225
    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.
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ollie's Pub / Bar & Pub

    Property Details for 941 Shr Rd

    Year built
    1915
    Construction
    FRAME
    Lot size
    0.10 lot acres
    Property size
    4,440 SF
    Zone code
    GB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WARW M:332 B:0501 L:0000
    APU
    WARWM332B0501L0000

    Description

    This exceptional mixed-use property at 941 West Shore Road, Warwick, Rhode Island, 02889, presents a lucrative investment opportunity. The 4,356 square foot lot houses a three-story, 1915-built building encompassing a fully operational and leased bar and two updated apartment units, currently rented month-to-month, generating strong rental income. The bar boasts a spacious layout and complete equipment. Each apartment unit has undergone recent renovations. This prime location in Warwick offers high visibility and accessibility, situated near various shopping, dining, and local amenities, ensuring a steady stream of customers for the bar and tenants for the apartments. The property's strong rental income potential, combined with the established bar business, makes this a compelling investment in a desirable Rhode Island location. The building consists of one structure with three stories. The asking price for this exceptional property is $850,000. This is a rare chance to acquire a thriving business and rental property in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $596,000
      Market price range: $596k - $1.55M
      AI Estimate
      $476,000
      Market price range: $426k - $1.23M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $940,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Warwick
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.3781
    Latitude
    41.7202
    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
    $0.00
    $73,900
    $284,600
    $358,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,530 SF

      988 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,530 SF
      988 Shr Rd, Warwick, RI 02889-2730
      View Details
    • Value Estimation by Request
      744 SF

      2281 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 744 SF
      2281 Shr Rd, Warwick, RI 02889-8440
      View Details
    • Value Estimation
      $645,000
      3,810 SF

      22 Hewett St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,810 SF
      22 Hewett St, Warwick, RI 02889
      View Details
    • Value Estimation
      $675,000
      5,294 SF

      659 Sandy Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 5,294 SF
      659 Sandy Ln, Warwick, RI 02889-8241
      View Details
    • Value Estimation by Request
      1,854 SF

      2166 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,854 SF
      2166 Shr Rd, Warwick, RI 02889-8437
      View Details
    • Value Estimation
      $690,000
      3,608 SF

      800 Shr Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,608 SF
      800 Shr Rd, Warwick, RI 02889-2609
      View Details

    Similar Nearby for Sale

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      Multi-Unit Commercial Property For Sale

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    • $1,400,000
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      Prime Commercial Opportunity on Sandy

      7,870 sq. ft. commercial space on a full acre.
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      Land parcel near water, ideal for building a home.
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      1,536 SF

      Restaurant Space in Warwick, RI

      1536 SF commercial space ideal for a restaurant.
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    • $349,900
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      Renovated Commercial Building on Warwick

      Completely renovated commercial building with high traffic exposure.
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    Similar Nearby for Lease

    • $1.00 SF/Yr

      Prime Commercial Space on Sandy Lane

      7,870 sq. ft. commercial space on a full acre.
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    • $0.03 SF/Yr
      5,395 SF

      Warwick Office Building - Prime Location

      High-traffic area, ample parking, 5,395 sq ft.
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    • Contact for pricing

      Retail Space Near Major Retailers

      Centrally located retail space near Route 95 and PVD Airport.
      2574 W Shore Rd, Warwick, RI 02889
      View Details
    • Contact for pricing

      Warwick Retail and Auto Property

      Retail building with vacant restaurant, auto service building on 1.52± acres.
      1584 Warwick Ave, Warwick, RI 02889
      View Details
    • Contact for pricing
      2,820 SF

      Retail Space in Warwick Center

      Retail space available in a busy Warwick shopping center.
      2430 Warwick Ave, Warwick, RI 02889
      View Details
    • Contact for pricing

      Retail/Restaurant Space with Drive-Thru

      3,152±SF retail/restaurant space with drive-thru at signalized intersection.
      1584 Warwick Ave, Warwick, RI 02889
      View Details
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    Warwick, RI 02889-2740
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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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