1025 Tiogue AveCoventry, RI 02816

Property Details for 1025 Tiogue Ave

Year built

1968

Construction

FRAME

Lot size

0.55 AC

Property size (Sq ft)

2,576 SF

Zone code

2000

Property type

Showrooms

APN

COVE M:28 L:8

APU

COVEM28L8

Description

This exceptional commercial property, located at 1025 Tiogue Avenue in Coventry, Rhode Island, presents a unique investment opportunity. The property boasts two free-standing buildings totaling over 2,640 square feet, situated on a highly visible two-acre lot along Route 3. The buildings share a joint access point and offer significant flexibility for a variety of commercial uses. Currently configured as two to three rental units, the property is zoned commercial, allowing for diverse business ventures. One building features a finished lower level, adding to its versatility. Extensive paved parking is available in front of the buildings, with additional parking located at the rear, ensuring ample space for customers and employees. The exterior is finished with durable vinyl siding. The property's prime location and substantial size make it ideal for a range of businesses, from professional offices and salons to retail establishments such as gift shops. The potential to operate a business in one building while generating rental income from the other presents a compelling investment strategy. The seller may consider leasing options. This property offers a rare combination of visibility, space, and versatility, making it an attractive proposition for discerning investors and entrepreneurs. The asking price is $574,900.

• CAP approach

  CAP return

  Valuation

  6%

  $626,058

  6.5%

  $577,900

  7%

  $536,621

• Comparable approach

  Method

  Valuation

  Relative Method

  $848,182

  Geo Method

  $848,182

• Alternative Use

  Use

  Valuation

  Residential

  $487,480

  Hospitality

  $446,529

  Educational

  $371,507

  Medical

  $384,284

  Retail

  $577,900

Location Insight

City

Coventry

County

Kent

State

Rhode Island

Latitude

41.6798

Longitude

-71.5776

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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