1193 Tiogue AveCoventry, RI 02816

This exceptional mixed-use commercial property, located at 1193 Tiogue Avenue in Coventry, Rhode Island, presents a compelling investment opportunity. The 18,500-square-foot building, constructed in 1980 and situated on a 108,900-square-foot lot, boasts a desirable location just 2.3 miles from I-95, ensuring convenient access for both tenants and customers. Currently operating at 53% occupancy, the property features six units across two stories, offering a blend of medical office and retail space. A significant portion of the existing tenancy is secured by long-term leases, providing immediate cash flow. Available space includes approximately 3,000 square feet with a kitchenette and private ingress/egress, ideal for various uses such as medical practices, physical therapy, martial arts studios, licensed daycare centers, or gyms. An additional 5,000 square feet of vacant mixed-office space is also available, offering flexibility for either a single large tenant or division into two 2,500-square-foot units. The property includes 60 parking spaces and benefits from a brand-new roof installed in February 2024. The building features central forced-air heating and central air conditioning, and is serviced by public water, sewer, natural gas, and municipal utilities. The asking price is $1,679,000, representing a compelling $91 per square foot and a 4.5% capitalization rate. This property offers a strong foundation for future growth and income generation. The property's APN is 1193TIOGUEAVCVEN. The lease type is NNN with a remaining term of 5 years.