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    2139 Main Rd Tiverton, RI 02878

    Sponsored
    For Sale
    $2,200,000

    Prime Waterfront Location, Huge Potential

    Property size:
    11,280 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    354
    This exceptional commercial property at 2139 Main Road, Tiverton, RI, presents a unique investment opportunity. Boasting 0.89 acres of land and 250 feet of deep-water frontage (8 feet at low tide), this waterfront location offers unparalleled potential. The property includes two buildings: a partially renovated 9,000 square foot structure situated on a new foundation with steel underpinnings, and a separate 2,500 square foot building. Both buildings are situated on a lot that is conveniently located just two miles from Route 24, ensuring excellent accessibility. The property's history includes previous uses as the Bridgeport Block and Manchester Seafood's site. The existing buildings date back to the late 1800s, offering a blend of historical charm and modern potential. The waterfront zoning allows for a wide range of permitted uses, while additional possibilities exist through special use permits. Previous approvals for hotel/hospitality usage demonstrate the property's suitability for a variety of commercial ventures. With its substantial size, prime location, and flexible zoning, this property is ideal for an investor seeking a high-impact commercial development project. The total building area is 11,280 square feet, offering ample space for diverse business needs. The asking price is $2,200,000.

    Property Features for 2139 Main Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    11,280 SF
    Lot Size
    38,768 SF

    Building Details

    Year Built
    1860

    We can help!

    Listing Contact
    James Holland

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Monarch Moorings, Inc Marine Supply Store Nanaquaket Bridge Waterfront ... Park

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hotel & Motel Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tiverton
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.20661
    Latitude
    41.61831

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Waterfront Location, Huge Potential
    Where is this commercial real estate located?
    The property is located at 2139 Main Rd Tiverton, RI.
    What is the asking price?
    The asking price for this property is $2,200,000.
    (401) 624-8469
    Request Owner's contact information
    2139 Main Rd Tiverton, RI 02878
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2139 Main Rd Tiverton, RI 02878
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    We can help!
    Listing Contact
    James Holland
    (401) 624-8469
    Learn more
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