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    32 Main Rd Tiverton, RI 02878

    For Sale
    $1,400,000

    Three buildings, 13 units, high income potential.

    Property size:
    11,841 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a rare chance to acquire a portfolio of three income-generating buildings situated on a single 0.45-acre lot in the desirable Tiverton, RI, location (02878). The property comprises a total of 11,841 square feet of net rentable space, encompassing a diverse mix of retail, residential, and storage units. The main building, located at 28-32 Main Rd, is a mixed-use structure featuring four residential units (4,270 sq ft) and two retail storefronts (1,522 sq ft). A second building at 36 Main Rd offers a large retail space (2,748 sq ft) with potential for division into two units, along with two spacious garage units (2,457 sq ft) and a storage room. Finally, 27 Rock St includes three garage units and a substantial office loft space (1,118 sq ft per floor, across multiple floors). Currently, the 13 rentable units generate a gross annual income of $98,280, with rents below market value, presenting significant upside potential. The property boasts eight parking spaces and is zoned R30. Built between 1900 and 1940, these three buildings offer a unique blend of historical charm and modern income-generating potential. The asking price is $1,400,000, representing a 5.00% cap rate. This is an owner/user investment opportunity with multi-tenancy.

    Property Features for 32 Main Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,841 SF
    Lot Size
    19,602 SF

    Building Details

    Buildings
    3
    Stories
    4
    Units
    13

    HighLights

    • Three income‑producing properties on a single 0.45‑acre lot in Tiverton, RI (02878).
    • Main building (28‑32 Main Rd): Mixed‑use with four residential units (4,270 sq ft) and two retail spaces (1,522 sq ft).
    • Second building (36 Main Rd): Large retail space (2,748 sq ft), two garage units (2,457 sq ft), and storage.
    • Third building (27 Rock St): Three garage units and a multi‑floor office loft (1,118 sq ft per floor).
    Property Profile Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Tiverton
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.184619
    Latitude
    41.6721781

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    FAQs

    What type of property is this?
    Individual retail property - Three buildings, 13 units, high income potential.
    Where is this individual retail property located?
    The property is located at 32 Main Rd Tiverton, RI.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Three income-producing properties on a single 0.45-acre lot in Tiverton, RI (02878).; Main building (28-32 Main Rd): Mixed-use with four residential units (4,270 sq ft) and two retail spaces (1,522 sq ft).; Second building (36 Main Rd): Large retail space (2,748 sq ft), two garage units (2,457 sq ft), and storage.
    Request Owner's contact information
    32 Main Rd Tiverton, RI 02878
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    Tiverton, RI 02878
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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
    32 Main Rd Tiverton, RI 02878
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