Riverfront Mixed-Use
For Sale
$650,000
1152 Main St, Coventry, RI 02816
Restaurant and bar space includes indoor and outdoor service areas with a deck overlooking the river.
Property Size4,052 SF
Price / SF$160.41
Days on Market100
Property Features for 1152 Main St
General Information
Standard status
Active
Size
4,052 SF
Property subtype
Multi-Family
Restaurant
Seating Capacity
85
Patio
Yes
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1840
Listing Agency:
Keller Williams Coastal
Listed By:
Michael Brennan
(401) 845-9200
Source:
Alpernandmesenbourg
Added: Jul 7
Changed: Oct 11
Last Checked: Oct 7 at 3:18PM
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 Keller Williams Coastal
Investment Insights
Based on property information with market context.
This mixed-use property combines a restaurant and bar on the first floor with two residential apartments above. The commercial space accommodates up to 85 guests and includes indoor and outdoor bars, a riverfront deck, new kitchen tile flooring, and FRP wall finishes. The building dates to 1840, with the restaurant area renovated for continued food-and-beverage use.
The second floor contains a two-bedroom apartment with a walk-in closet, while the third floor offers a one-bedroom unit with an in-unit washer and dryer. Both apartments are leased and generating residential income. The property is located at 1152 Main Street in Coventry, directly across from Dave's Marketplace Plaza and Dunkin'.
The second floor contains a two-bedroom apartment with a walk-in closet, while the third floor offers a one-bedroom unit with an in-unit washer and dryer. Both apartments are leased and generating residential income. The property is located at 1152 Main Street in Coventry, directly across from Dave's Marketplace Plaza and Dunkin'.
Key Highlights
- First‑floor restaurant and bar seats up to 85 guests
- Indoor and outdoor bars with a deck overlooking the river
- New kitchen tile floors and FRP wall finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,087
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,740
$1.1M
Cap Rate 7%
$772,671
$772.7K
Cap Rate 9%
$600,967
$601.0K
Market Conditions
NOI Build-Up for 4,052 SF
Gross rent
$105.5K $26.04/SF
− Vacancy
−$7.2K −$1.77/SF
EGI
$98.3K $24.27/SF
− OpEx
−$44.3K −$10.92/SF
NOI
$54.1K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,740
Cap Rate 7%
$772,671
Cap Rate 9%
$600,967
Alternative Uses
Best Use
Specialty Retail
$1.01M
$888.0K – $1.18M
NOI $71,040 @ 7.0% cap · market cap 10.93%
Second Best
Apartment 5plus
$772.7K
$676.1K – $901.5K
NOI $54,087 @ 7.0% cap · market cap 8.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant and bar space includes indoor and outdoor service areas with a deck overlooking the river.
Where is this mixed-use property located?
The property is located at 1152 Main St Coventry, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: First‑floor restaurant and bar seats up to 85 guests; Indoor and outdoor bars with a deck overlooking the river; New kitchen tile floors and FRP wall finishes
