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    Three-Building Mixed-Use Income Property Title is generated by Realmo AI

    28-30-32 Main Road Tiverton, Tiverton, RI 02878

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    Claim this Listing
    New
    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 size:
    13,233 SF
    Price / SF:
    $105/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 2:33 am

    Property Features for 28-30-32 Main Road Tiverton

    General Information

    Standard status
    Active
    Size
    13,233 SF

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Amanda Lucido Hodges

    Listing agent Amanda Lucido Hodges

    Listing office

    Listing date Jun 4, 2026

    Source Bournetosellrealestate

    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

    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.
    • 36 Main Rd also includes two garage units totaling 2,457 SF behind the storefront section.
    • 27 Rock St has three garage units and an office loft area above; each floor offers 1,118 SF.
    • Total of 13 rentable units with annual gross rents of $98,280.

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Similar Places Nearby

    • CDFloraldesign — 621mount, 621 Mt Hope Ave, Fall River, MA 02724

    Location Insight

    • Map
    • Local Demand
    City
    Tiverton
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.1845548
    Latitude
    41.672207

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      Mixed-Use Buildings with Income Potential

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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.
    (508) 643-8166
    We can help!
    Listing Contact
    Amanda Lucido Hodges
    Learn More
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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.

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