32 Main RdTiverton, RI 02878

Property Details for 32 Main Rd

Lot size

0.45 AC

Property size (Sq ft)

11,841 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a rare chance to acquire a portfolio of three income-generating buildings situated on a single 0.45-acre lot in the desirable Tiverton, RI, location (02878). The property comprises a total of 11,841 square feet of net rentable space, encompassing a diverse mix of retail, residential, and storage units. The main building, located at 28-32 Main Rd, is a mixed-use structure featuring four residential units (4,270 sq ft) and two retail storefronts (1,522 sq ft). A second building at 36 Main Rd offers a large retail space (2,748 sq ft) with potential for division into two units, along with two spacious garage units (2,457 sq ft) and a storage room. Finally, 27 Rock St includes three garage units and a substantial office loft space (1,118 sq ft per floor, across multiple floors). Currently, the 13 rentable units generate a gross annual income of $98,280, with rents below market value, presenting significant upside potential. The property boasts eight parking spaces and is zoned R30. Built between 1900 and 1940, these three buildings offer a unique blend of historical charm and modern income-generating potential. The asking price is $1,400,000, representing a 5.00% cap rate. This is an owner/user investment opportunity with multi-tenancy.

Location Insight

City

Tiverton

County

Newport

State

Rhode Island

Latitude

41.6722

Longitude

-71.1846

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