Flex Space with Garage
For Sale
Contact for pricing
1010 Tiogue Avenue #10, Coventry, RI 02816
Commercial condo with office, kitchen, private bath, and adaptable storage areas for business operations.
Property Size2,018 SF
Price / SF$0.01
Days on Market54
Property Features for 1010 Tiogue Avenue #10
General Information
Standard status
Active
Size
2,018 SF
Property subtype
Commercial
Amenities
full kitchen
private bathroom
heating/cooling
dedicated office/conference space
12x14 garage door bay
garage/storage space
finished mezzanine
shower stall
laundry hookups
signage on Tiogue Avenue
Building Details
Year Built
1988
Listing Agency:
RI Real Estate Services
(401) 885-5400
Listed By:
Michael Russo · License #REB.0018125
(401) 465-0417
Source:
Lockandkeyre
Added: Sep 9
Changed: Oct 31
Last Checked: Nov 1 at 5:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RI Real Estate Services
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Investment Insights
Based on property information with market context.
This 2,018-square-foot commercial condo combines office and storage functions in a flexible layout. Interior features include a full kitchen, private bathroom, heating and cooling, and a dedicated office or conference area. A 12-by-14-foot garage door opens to more than 500 square feet of garage and storage space. The finished mezzanine adds upper-level work or storage capacity and includes a shower stall and laundry hookups.
Signage is available on Tiogue Avenue. The property was built in 1988, and the interior walls can be removed to enlarge the storage area as operational requirements change. A dedicated garage bay provides direct access for vehicles, tools, or inventory.
Signage is available on Tiogue Avenue. The property was built in 1988, and the interior walls can be removed to enlarge the storage area as operational requirements change. A dedicated garage bay provides direct access for vehicles, tools, or inventory.
Key Highlights
- 2,018 SF commercial condo with office, kitchen, private bathroom, and heating/cooling
- 12x14 foot garage door bay provides access to over 500 square feet of garage/storage space
- Finished mezzanine includes a shower stall and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,389
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,780
$187.8K
Cap Rate 7%
$134,129
$134.1K
Cap Rate 9%
$104,322
$104.3K
Market Conditions
NOI Build-Up for 2,018 SF
Gross rent
$14.0K $6.96/SF
− Vacancy
−$632 −$0.31/SF
EGI
$13.4K $6.65/SF
− OpEx
−$4.0K −$1.99/SF
NOI
$9.4K $4.65/SF
Area
Kent County, RI
Vacancy
4.50%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,780
Cap Rate 7%
$134,129
Cap Rate 9%
$104,322
Alternative Uses
Best Use
Flex RnD
$177.3K
$155.1K – $206.9K
NOI $12,411 @ 7.0% cap · market cap 103,425.00%
Second Best
Warehouse
$140.4K
$122.9K – $163.8K
NOI $9,829 @ 7.0% cap · market cap 81,908.33%
Theoretical Best
Specialty Retail
$505.4K
$442.3K – $589.7K
NOI $35,380 @ 7.0% cap · market cap 294,833.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 02816, RI
33,206
Population
14,505
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
36.9 sq mi
ZIP Area
900
Density / Sq Mi
$97,941
Median Household Income
$51,773
Median Earnings
$1,168
Median Rent
$317,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo with office, kitchen, private bath, and adaptable storage areas for business operations.
Where is this flex space located?
The property is located at 1010 Tiogue Avenue #10 Coventry, RI.
What are key features of this property?
This property features: 2,018 SF commercial condo with office, kitchen, private bathroom, and heating/cooling; 12x14 foot garage door bay provides access to over 500 square feet of garage/storage space; Finished mezzanine includes a shower stall and laundry hookups
