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    Mixed-Use Property with Bar and Apartment Title is generated by Realmo AI

    354 Tiogue Avenue, Coventry, RI 02816

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    For Sale
    $399,900

    First-floor bar with an upstairs, legally zoned 2-bedroom apartment plus new septic and ample off-street parking.

    Type:Commercial
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:19 am

    Property Features for 354 Tiogue Avenue

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1933

    We can help!

    Listing Contact
    Kyle Seyboth

    Listing agent Kyle Seyboth License #REB.0794296

    Listing office Century 21 Limitless

    Listing date Jun 3, 2026

    Source Liongatere

    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 Century 21 Limitless

    HighLights

    • Mixed‑use property built in 1933 with one first‑floor commercial unit and one legally zoned 2‑bedroom residential apartment
    • First‑floor commercial space is currently operating as a bar, offering flexibility for a range of business uses
    • Residential unit is a legally zoned 2‑bedroom apartment on the second floor
    • Brand‑new septic system completed in 2026 (approx. $80,000 installation cost)
    • Ample off‑street parking for customers, tenants, and visitors
    • On Tiogue Avenue with convenient access to Route 3, Route 102, and Interstate 95

    Overview

    This mixed-use property includes one first-floor commercial unit currently operating as a bar, along with a legally zoned 2-bedroom residential apartment on the second floor. The building is configured for both business use and independent residential living, supporting an owner-occupant setup or a blended income approach. A brand-new septic system was installed in 2026, with an installation cost of approximately $80,000, providing added value and peace of mind for future ownership. Ample off-street parking is available for customers, tenants, and visitors.

    The property is located along Tiogue Avenue and is described as offering convenient access to shopping, dining, grocery stores, and everyday amenities. It is also noted to be minutes to Tiogue Lake and nearby recreational areas. For regional connectivity, the listing highlights convenient access to Route 3, Route 102, and Interstate 95.

    For tenants, buyers, and operators, the combination of a functioning bar space and an upstairs 2-bedroom apartment can support a range of operating models, from running the commercial unit while using the residence for additional rental income. The new septic and dedicated off-street parking help reduce immediate site-related concerns, while the dual-use layout offers flexibility in how the space can be utilized within the property’s existing configuration.
    Location Intelligence

    Current Use by Public Records

    Nickys Lounge Bar & Pub

    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

    • Main Street Pub — 1152 Main St, Coventry, RI 02816
    • Black Oak Kitchen & Drinks — 760 Tiogue Ave, Coventry, RI 02816
    • WCVY-FM Coventry — 40 Reservoir Rd, Coventry, RI 02816

    Location Insight

    • Map
    • Local Demand
    City
    Coventry
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5443115
    Latitude
    41.6827639

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    FAQs

    What type of property is this?
    Bar & Pub - First-floor bar with an upstairs, legally zoned 2-bedroom apartment plus new septic and ample off-street parking.
    Where is this bar & pub located?
    The property is located at 354 Tiogue Avenue Coventry, RI.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Mixed‑use property built in 1933 with one first‑floor commercial unit and one legally zoned 2‑bedroom residential apartment; First‑floor commercial space is currently operating as a bar, offering flexibility for a range of business uses; Residential unit is a legally zoned 2‑bedroom apartment on the second floor
    (508) 726-3492
    We can help!
    Listing Contact
    Kyle Seyboth
    Real Estate License ID: REB.0794296
    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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    354 Tiogue Avenue, Coventry, RI 02816
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