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    487 Washington St Coventry, RI 02816

    Sponsored
    For Sale
    $800,000

    Prime Automotive Business Opportunity in RI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a unique chance to acquire a fully equipped, 4,840 square foot automotive business located at 487 Washington Street in Coventry, Rhode Island. The property, built in 1923, sits on a substantial 13,068 square foot lot and includes a single building ideally suited for automotive repair or a similar business. The asking price for this owner-user opportunity is $800,000, offering a compelling chance to purchase both the established business and the real estate. This presents a turnkey solution for entrepreneurs seeking to establish or expand their operations within the automotive repair sector. The property's location in Coventry, RI, within Kent County, offers excellent access to local clientele and convenient transportation links. The property is classified as special purpose commercial land, reflecting its unique suitability for automotive-related businesses. The existing building's infrastructure is fully equipped for immediate operation, minimizing start-up costs and maximizing potential returns. This is a rare opportunity to acquire a well-established business and a strategically located property in a thriving market. The substantial lot size provides ample space for potential expansion or future development. This offering represents a strong investment prospect with significant potential for growth and profitability. The property's zoning and permitted uses should be independently verified.

    Property Features for 487 Washington St

    General Information

    Property type
    Land

    Building Details

    Year Built
    1923
    Buildings
    1

    HighLights

    • 4,840 SF automotive business for sale at 487 Washington Street, Coventry, RI.
    • Located on a 13,068 SF lot.
    • Asking price: $800,000.
    • Turnkey operation, ideal for automotive repair.
    • Special purpose commercial land.
    Property Profile Location Intelligence

    Current Use by Public Records

    Moore's Motor Service, ... Auto Repair Shop

    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
    -71.5391104
    Latitude
    41.6956437

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    FAQs

    What type of property is this?
    Land - Prime Automotive Business Opportunity in RI
    Where is this land located?
    The property is located at 487 Washington St Coventry, RI.
    What is the asking price?
    The asking price for this property is $800,000.
    What are key features of this property?
    This property features: 4,840 SF automotive business for sale at 487 Washington Street, Coventry, RI.; Located on a 13,068 SF lot.; Asking price: $800,000.
    Request Owner's contact information
    487 Washington St Coventry, RI 02816
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    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
    487 Washington St Coventry, RI 02816
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