Three-Building Mixed-Use Income
28-30-32 Main Road Tiverton Tiverton, RI 02878
28-30-32 Main Road Tiverton, Tiverton, RI, 02878
$1,400,000
For Sale
$1,400,000
Own three income-producing buildings with retail storefronts and multiple garage units, plus residential units for diversified rental income.
Property Size13,233 SF
Price / SF$105.80
Days on Market807
Property Features for 28-30-32 Main Road Tiverton
General Information
- Standard status
- Active
- Size
- 13,233 SF
Building Details
- Year Built
- 1900
Listing Agency
(508) 643-8166
Listed by
Amanda Lucido Hodges
(508) 643-8166
Source
Bournetosellrealestate
Added: May 6, 2024 Updated: Jul 6 at 2:27 pm Checked: Jul 19 at 2:53 am
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 Amanda Lucido Hodges
Investment Insights
Based on property information with market context.
This offering is a single lot containing three income-generating buildings. The first building at 28–32 Main Rd is a mixed-use property with four residential units totaling 4,270 square feet and two retail storefront units totaling 1,522 square feet.
The second building at 36 Main Rd includes one large storefront unit of 2,748 square feet that could be split into two units. The storefront area includes a spacious storage room and bathroom in the back, and behind the storefront section are two garage units totaling 2,457 square feet.
The third building at 27 Rock St provides three garage units plus a spacious office loft area above. Each floor offers 1,118 square feet.
In total, the property features 13 rentable units. The reported gross income is $98,280 per year with below-market rents, supported by the existing unit mix spanning residential, retail storefront, garage, and office-loft space. The configuration is well-suited for an owner-operator or investor looking to manage a diversified portfolio within a single assemblage.
The second building at 36 Main Rd includes one large storefront unit of 2,748 square feet that could be split into two units. The storefront area includes a spacious storage room and bathroom in the back, and behind the storefront section are two garage units totaling 2,457 square feet.
The third building at 27 Rock St provides three garage units plus a spacious office loft area above. Each floor offers 1,118 square feet.
In total, the property features 13 rentable units. The reported gross income is $98,280 per year with below-market rents, supported by the existing unit mix spanning residential, retail storefront, garage, and office-loft space. The configuration is well-suited for an owner-operator or investor looking to manage a diversified portfolio within a single assemblage.
Key Highlights
- Three income‑producing buildings: 28–32 Main Rd, 36 Main Rd, and 27 Rock St (built in 1900).
- 28–32 Main Rd includes 4 residential units totaling 4,270 SF plus 2 retail storefront units totaling 1,522 SF.
- 36 Main Rd features a 2,748 SF storefront that could be split into two units, plus back storage and a bathroom.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $212.8k | $16.08 |
| − Vacancy | −$44.0k | −$3.32 |
| EGI | $168.8k | $12.76 |
| − OpEx | −$42.2k | −$3.19 |
| NOI | $126.6k | $9.57 |
13,233 SF · lease $16.08/SF/yr · vacancy 20.67% · expense 25.00%
Alternative Uses
Best Use
Multifamily LT 5
$3.16M
$2.76M – $3.68M
NOI $221,020 @ 7.0% cap · market cap 15.79%
Second Best
Apartment 5plus
$2.81M
$2.46M – $3.28M
NOI $196,562 @ 7.0% cap · market cap 14.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Storefront property - Own three income-producing buildings with retail storefronts and multiple garage units, plus residential units for diversified rental income.
Where is this storefront property located?
The property is located at 28-30-32 Main Road Tiverton Tiverton, RI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three income‑producing buildings: 28–32 Main Rd, 36 Main Rd, and 27 Rock St (built in 1900).; 28–32 Main Rd includes 4 residential units totaling 4,270 SF plus 2 retail storefront units totaling 1,522 SF.; 36 Main Rd features a 2,748 SF storefront that could be split into two units, plus back storage and a bathroom.
