Mixed-Use Retail and Residential
21 East Road Tiverton, RI 02878
21 East Road, Tiverton, RI, 02878
$1,325,000
For Sale
$1,325,000
Renovated retail storefront plus three legal residential units and a 3-bay garage/workshop on two lots.
Property Size2,352 SF
Lot Size6.00 Acres
Price / SF$563.35
Days on Market59
Property Features for 21 East Road
General Information
- Standard status
- Active
- Size
- 2,352 SF
- Lot size
- 6.00 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Hearth & Harbor Realty
Listed by
Deborah Plant
(401) 619-8222
Source
Teridegnan
Added: May 24 Updated: Jul 19 at 2:28AM Checked: Jul 21 at 6:50AM
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 Hearth & Harbor Realty
Investment Insights
Based on property information with market context.
This for-sale mixed-use property includes 3 legal residential units, a renovated retail storefront, and a 1,500-square-foot 3-bay garage/workshop on two lots sold together. The main residence at 21 East Road is a classic 1920s Cape featuring original woodwork and hardwood floors. It is currently configured as a 2-family home with a 2-bedroom, 1-bath unit on each floor, with the option to convert to a single-family layout. A separate 540-square-foot 1-bedroom, 1-bath cottage provides additional flexible residential space.
The commercial component at 31 East Road is a renovated 1,075-square-foot retail space with new cedar shingles, roof, windows, and a ductless mini-split system. The garage/workshop has been newly sided, adding to the utility-focused improvements.
The offering is situated in historic Tiverton Four Corners, combining village convenience with privacy. The property is set on nearly 6 acres, with the 31 East Road offering for real estate only and the business not included.
The commercial component at 31 East Road is a renovated 1,075-square-foot retail space with new cedar shingles, roof, windows, and a ductless mini-split system. The garage/workshop has been newly sided, adding to the utility-focused improvements.
The offering is situated in historic Tiverton Four Corners, combining village convenience with privacy. The property is set on nearly 6 acres, with the 31 East Road offering for real estate only and the business not included.
Key Highlights
- Main residence at 21 East Rd: classic 1920 Cape with 2,352 sq ft of finished living space and original woodwork plus hardwood floors
- Includes 3 legal residential units total: 2‑family configuration with 2 bed/1 bath on each floor and a separate 540 sq ft 1 bed/1 bath cottage
- Renovated 31 East retail storefront: 1,075 sq ft with new cedar shingles, roof, windows, and ductless mini‑split system (real estate only)
Local Financial Insights For Multifamily LT 5
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 | $60.1k | $25.56 |
| − Vacancy | −$4.0k | −$1.70 |
| EGI | $56.1k | $23.86 |
| − OpEx | −$16.8k | −$7.16 |
| NOI | $39.3k | $16.70 |
2,352 SF · lease $25.56/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$561.2K
$491.1K – $654.7K
NOI $39,284 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$499.1K
$436.7K – $582.3K
NOI $34,937 @ 7.0% cap · market cap 2.64%
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
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Renovated retail storefront plus three legal residential units and a 3-bay garage/workshop on two lots.
Where is this triplex located?
The property is located at 21 East Road Tiverton, RI.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Main residence at 21 East Rd: classic 1920 Cape with 2,352 sq ft of finished living space and original woodwork plus hardwood floors; Includes 3 legal residential units total: 2‑family configuration with 2 bed/1 bath on each floor and a separate 540 sq ft 1 bed/1 bath cottage; Renovated 31 East retail storefront: 1,075 sq ft with new cedar shingles, roof, windows, and ductless mini‑split system (real estate only)
