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    Mixed-Use Building with Bar & Residence Title is generated by Realmo AI

    354 Tiogue Avenue, Coventry, RI 02816

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    Claim this Listing
    New
    For Sale
    $399,900

    COMMERCIAL - Coventry, RI

    Lot size:
    0.26 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 354 Tiogue Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    20
    Standard status
    Active
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5743

    Utilities

    Sewer type
    Septic Tank

    Building Details

    Year built
    1933
    Building materials
    Frame

    We can help!

    Listing Contact
    Kyle Seyboth

    Listing agent Kyle Seyboth License #REB.0794296

    Listing office Century 21 Limitless 969 Waterman Avenue, Suite 1, East Providence, RI

    Listing date Jun 3, 2026

    MLS# 1414143

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mixed‑use property with 1 commercial unit plus 1 legally zoned 2‑bedroom residential apartment (second floor).
    • First‑floor commercial space is currently operating as a bar, with versatility for other business uses.
    • New septic system installed in 2026 (approx. $80,000).
    • Ample off‑street parking for customers, tenants, and visitors.
    • Located on Tiogue Avenue with access to Route 3, Route 102, and Interstate 95.

    Overview

    This mixed-use property includes one first-floor commercial unit and one legally zoned 2-bedroom residential apartment on the second floor. The commercial space is currently operating as a bar, offering flexibility for a variety of business uses. The second-floor apartment provides separate residential living space that can support additional rental income for an owner-occupant or investor. A brand-new septic system was installed in 2026, representing an important improvement for long-term ownership.

    The property is located along Tiogue Avenue in Coventry, Rhode Island, with convenient access to shopping, dining, grocery stores, and everyday amenities. It also offers ample off-street parking for customers, tenants, and visitors. The area provides nearby recreational options, and the property is positioned for travel with access to Route 3, Route 102, and Interstate 95.

    For buyers seeking a live-and-work setup, the combination of an operating bar on the ground level and a 2-bedroom apartment above creates a practical ownership format. For investors, the separation between commercial and residential components can allow for diversified income streams under one ownership structure, while the newly installed septic system supports operational continuity.
    Property Profile 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
    -71.54449
    Latitude
    41.682665

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    FAQs

    What type of property is this?
    Bar & Pub - Two-unit mixed-use property with a first-floor bar and second-floor legally zoned 2-bedroom apartment.
    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 with 1 commercial unit plus 1 legally zoned 2‑bedroom residential apartment (second floor).; First‑floor commercial space is currently operating as a bar, with versatility for other business uses.; New septic system installed in 2026 (approx. $80,000).
    (508) 726-3492
    We can help!
    Listing Contact
    Kyle Seyboth
    Real Estate License ID: REB.0794296
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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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