1193 Tiogue Ave UnitCoventry, RI 02816

Property Details for 1193 Tiogue Ave Unit

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.50 AC

Property size (Sq ft)

16,000 SF

Zone code

4000

Property type

Other commercial real estate

Property subtype

Showrooms

APN

COVE M:27 L:119-002

APU

COVEM27L119002

Description

Benjamin Square presents a unique investment opportunity: a 5,000 square foot, single-tenant office building situated on a 108,900 square foot lot. This two-story building offers flexible space ideal for a variety of uses. Currently vacant, the interior is adaptable and could easily be divided into two 2,500 square foot units, or remain as a single, larger space. The property boasts 60 parking spaces, providing ample convenience for employees and clients. Its strategic location offers excellent accessibility, being just 2.3 miles from I-95, ensuring convenient commutes for those traveling regionally. The property's proximity to Coventry High School adds to its appeal. The building is offered as a Net, Net, Net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance. This presents a low-maintenance investment opportunity with significant potential for a variety of businesses. The property type is classified as Land, Office, and Industrial, with subtypes including Commercial, Traditional Office, Distribution, Medical Office, and Specialty Services. The building itself is a single structure with one suite. This versatile property is ready for immediate occupancy and presents a compelling opportunity for a discerning investor or business owner.

• CAP approach

  CAP return

  Valuation

  6%

  $3,888,558

  6.5%

  $3,589,439

  7%

  $3,333,050

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,268,211

  Geo Method

  $5,268,211

• Alternative Use

  Use

  Valuation

  Residential

  $3,027,826

  Hospitality

  $2,773,472

  Educational

  $2,307,496

  Medical

  $2,386,854

  Retail

  $3,589,439

Location Insight

City

Coventry

County

Kent

State

Rhode Island

Latitude

41.6795

Longitude

-71.5857

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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