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    417 Washington St Coventry, RI 02816

    Sponsored
    For Sale
    $2,600,000

    6+ Acres, Multi-Family Income Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 6.58-acre property presents a unique investment opportunity in Coventry, Rhode Island, situated conveniently on the Coventry/West Warwick town line at 417 Washington Street, zip code 02816. The land is zoned GB, offering significant development potential. Water and sewer connections are readily available, running directly from Washington Street into the property. Adding to the investment appeal, this offering includes an adjacent 0.49-acre parcel featuring a collection of income-producing assets. These assets comprise five one-bedroom apartments, several garage rentals, and an established business, providing a current revenue stream. This presents a flexible investment scenario; the entire 6.58-acre parcel, including the existing rental properties and business, can be purchased as a single package, or the land and income-producing components can be acquired separately. The property's prime location and diverse income streams make it an attractive proposition for developers and investors seeking a multifaceted investment opportunity in a thriving Rhode Island community. The latitude and longitude coordinates are 41.6957662, -71.5345795 respectively. The asking price for the entire property is $2,600,000.

    Property Features for 417 Washington St

    General Information

    Property type
    Land
    Lot Size
    286,625 SF

    HighLights

    • $2,600,000 asking price.
    • 6.58‑acre land parcel.
    • GB zoning.
    • Located in Coventry, RI, at 417 Washington Street.
    • Includes adjacent 0.49‑acre parcel with five 1‑bedroom apartments, garages, and an existing business, offering additional income potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    G. Iannotti Flowers ... Florist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Coventry
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5345795
    Latitude
    41.6957662

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    FAQs

    What type of property is this?
    Land - 6+ Acres, Multi-Family Income Potential
    Where is this land located?
    The property is located at 417 Washington St Coventry, RI.
    What is the asking price?
    The asking price for this property is $2,600,000.
    What are key features of this property?
    This property features: $2,600,000 asking price.; 6.58-acre land parcel.; GB zoning.
    Request Owner's contact information
    417 Washington St Coventry, RI 02816
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    417 Washington St Coventry, RI 02816
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