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Coventry Mixed-Use Investment Opportunity

466 Washington, Coventry, RI 02816

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For Sale

$900,000

Mixed-use property with residential units and retail space.

Property size:

4,800 SF

Lot size:

0.36 Acres

Price / SF:

$187/SF

HighLights

Six fully occupied residential units provide steady income.
Vacant 480 sq ft detached retail space offers immediate value‑add potential.
Newer roof (3 years old) and multiple new heating systems minimize maintenance costs.
Connection to public sewers.
Ample parking supports both residents and future commercial use.
Convenient location near highways and everyday amenities.

We can help!

Contact an agent

JOSEPH BRENNAN

For Sale

$900,000

Mixed-use property with residential units and retail space.

Property size:

4,800 SF

Lot size:

0.36 Acres

Price / SF:

$187/SF

Added:: Oct 27, 2025
Days on Market:: 244
Last Refresh:: Mar 16 at 11:02 am

Property Features for 466 Washington

General Information

Standard status: Active
Size: 4,800 SF
Lot size: 0.36 Acres

Building Details

Year Built: 1918

We can help!

Contact an agent

JOSEPH BRENNAN

Listing office CHURCHILL & BANKS CO., LLC

Listing date Oct 27, 2025

Source Corcoran

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 CHURCHILL & BANKS CO., LLC

HighLights

Six fully occupied residential units provide steady income.
Vacant 480 sq ft detached retail space offers immediate value‑add potential.
Newer roof (3 years old) and multiple new heating systems minimize maintenance costs.
Connection to public sewers.
Ample parking supports both residents and future commercial use.
Convenient location near highways and everyday amenities.

Overview

This mixed-use property in Coventry presents a strong investment opportunity. It features six fully occupied residential units that provide a steady income stream. Additionally, there is a vacant 480 square foot detached retail space, offering immediate potential for increased value. The property includes ample parking to accommodate both residents and commercial activities. Recent upgrades include a newer roof, installed 3 years ago, and multiple new heating systems. The property has also been recently connected to public sewers. The location offers convenient access to highways and everyday amenities. This property is intended for mixed-use and could be a practical addition to any portfolio.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$125.0k	$26.04
− Vacancy	−$8.5k	−$1.77
EGI	$116.5k	$24.27
− OpEx	−$52.4k	−$10.92
NOI	$64.1k	$13.35

4,800 SF · lease $26.04/SF/yr · vacancy 6.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$915.3K

$800.9K – $1.07M (±1% cap)

NOI $64,071 @ 7.0% cap · market cap 7.12%

Second Best

Retail

$886.4K

$775.6K – $1.03M (±1% cap)

NOI $62,049 @ 7.0% cap · market cap 6.89%

Theoretical Best

Specialty Retail

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $84,154 @ 7.0% cap · market cap 9.35%

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

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Coventry
County: Kent
State: Rhode Island
Longitude: -71.5379846
Latitude: 41.695226

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For sale
Mixed-use properties
RI
Coventry
02816
466 Washington

What type of property is this?

Mixed-use property - Mixed-use property with residential units and retail space.

Where is this mixed-use property located?

The property is located at 466 Washington Coventry, RI.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Six fully occupied residential units provide steady income.; Vacant 480 sq ft detached retail space offers immediate value‑add potential.; Newer roof (3 years old) and multiple new heating systems minimize maintenance costs.