2 Fairway DrCoventry, RI 02816

Property Details for 2 Fairway Dr

Year built

1966

Construction

FRAME

Lot size

36.94 AC

Property size (Sq ft)

1,344 SF

Property type

Showrooms

APN

COVE M:53 L:32-001

APU

COVEM53L32001

Description

This exceptional 36.94-acre property located at 2 Fairway Drive in Coventry, Rhode Island, presents a unique multifamily development opportunity. The land, previously the site of the Washington Village 9-hole golf course, offers significant potential for residential construction. Its prime location provides convenient access to a variety of amenities and retail options. Within a half-mile radius, residents will find Coventry Shopper's Park, home to Dave's Marketplace, Family Dollar, Dunkin' Donuts, Bank RI, and other local businesses. For larger shopping needs, the Centre of New England Boulevard, featuring national retailers such as Walmart Supercenter, Home Depot, BJ's Wholesale, and Cracker Barrel, is just 3.6 miles away. The property benefits from its proximity to Route 117 and is minutes from Route 2 and the retail corridor of Warwick. This strategic location offers easy access to major highways, making it an attractive location for both residents and businesses. The property is zoned for multifamily use and presents a compelling investment opportunity for developers seeking to capitalize on the growing demand for housing in the Coventry area. The substantial lot size allows for a large-scale development project, offering flexibility in design and unit configurations. This is a rare chance to acquire a significant parcel of land in a desirable location with excellent access to transportation and retail.

• CAP approach

  CAP return

  Valuation

  6%

  $326,639

  6.5%

  $301,513

  7%

  $279,976

• Comparable approach

  Method

  Valuation

  Relative Method

  $442,530

  Geo Method

  $442,530

• Alternative Use

  Use

  Valuation

  Residential

  $254,337

  Hospitality

  $232,972

  Educational

  $193,830

  Medical

  $200,496

  Retail

  $301,513

Location Insight

City

Coventry

County

Kent

State

Rhode Island

Latitude

41.6954

Longitude

-71.5694

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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