Mixed-Use Property with Upper
For Sale
$975,000
1019 Main Rd, Tiverton, RI 02878
MULTI_FAMILY - Tiverton, RI
Property Size5,024 SF
Lot Size0.23 Acres
Price / SF$194.07
Days on Market49
Property Features for 1019 Main Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R40
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2
Parking
6
Directions
Use GPS
Standard status
Active
APN
M:119 B:108,473804
Size
5,024 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5710
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams South Watuppa · Keller Williams Realty
(508) 677-3233
Listed By:
Clifford Ponte · License #9554597
(508) 677-3233
Added: Jul 10
Changed: Aug 9
Last Checked: Aug 27 at 2:06AM
MLS# 73547978
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1930, this 5,024-square-foot mixed-use property combines commercial and residential components on a 0.227-acre corner parcel. The ground floor contains a street-level antique shop with the option to convey inventory or deliver the space vacant for a different commercial use. The upper apartment includes two bedrooms, two full baths, an open kitchen and living area, formal dining room, dedicated office, and substantial storage.
The property fronts Main Road in Tiverton, providing a visible setting for the commercial portion. Its R40 zoning and combination of retail and residential space support a live-work format, with the building’s separate levels creating a clear division between business and living areas.
The property fronts Main Road in Tiverton, providing a visible setting for the commercial portion. Its R40 zoning and combination of retail and residential space support a live-work format, with the building’s separate levels creating a clear division between business and living areas.
Key Highlights
- 5,024‑square‑foot mixed‑use building constructed in 1930
- 0.227‑acre corner lot on Main Road
- Street‑level antique shop with inventory option
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,687
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,740
$1.1M
Cap Rate 7%
$809,814
$809.8K
Cap Rate 9%
$629,856
$629.9K
Market Conditions
NOI Build-Up for 5,024 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.4K $18.00/SF
− Vacancy
−$9.5K −$1.88/SF
EGI
$81.0K $16.12/SF
− OpEx
−$24.3K −$4.84/SF
NOI
$56.7K $11.28/SF
Area
Newport County, RI
Vacancy
10.45%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,740
Cap Rate 7%
$809,814
Cap Rate 9%
$629,856
Alternative Uses
Best Use
Retail
$809.8K
$708.6K – $944.8K
NOI $56,687 @ 7.0% cap · market cap 5.81%
Second Best
Mixed Use
$726.7K
$635.9K – $847.8K
NOI $50,868 @ 7.0% cap · market cap 5.22%
Theoretical Best
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,912 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 02878, RI
16,359
Population
7,747
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
29.1 sq mi
ZIP Area
562
Density / Sq Mi
$99,542
Median Household Income
$49,228
Median Earnings
$1,228
Median Rent
$367,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration combines a street-facing antique shop with a residential apartment and dedicated office space.
Where is this mixed-use property located?
The property is located at 1019 Main Rd Tiverton, RI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 5,024‑square‑foot mixed‑use building constructed in 1930; 0.227‑acre corner lot on Main Road; Street‑level antique shop with inventory option
