Commercial Real Estate Market in Coventry, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
70 active listings and 515 off-market properties in Coventry, RI. Commercial property asks $338/SF to buy and $11.50/SF/Yr to lease.
Market Trends
Coventry, RI spans 58.4 square miles in Kent County, Rhode Island. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Coventry, RI asks $150/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Coventry, RI runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Coventry, RI runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Coventry, RI asks $217/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 74.5%
- Civic 19.6%
- Industrial 2.6%
- Commercial 1.4%
- Planned_development 1%
- Mixed use 0.5%
Largest Zones share of zoned land by district
Rural Residential 5 Acres
Rural Residential 3 Acres
Rural Residential 2 Acres
Residential District
Business Park
Coventry, RI zones 39,764 acres across 14 districts. Commercial zoning covers 1.4% of zoned land, residential 74.5% and industrial 2.6%. The largest single district is Rural Residential 5 Acres at 41.5%. For commercial buyers the practical constraint is that only 4% of land carries a commercial or industrial designation.
Rural Residential 5 Acres (RR-5)
RR-5 § 255-450 Special use permits. A. The Board shall have the power to grant a special use permit for the uses so designated in Article VI . B. In granting any special use permit, the Board shall require that evidence to the satisfaction of the following standards be entered into the record of the proceedings: (1) Ingress and egress to the lot and to exist…
Market overview
Demographics & Economy
Coventry, RI has 35,430 residents in 15,348 households. Density runs 607 people per square mile. Median household income here is $100,276 and median gross rent $1,263 a month.
35,430
Population
15,348
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
58.4 sq mi
ZIP Area
607
Density / Sq Mi
$100,276
Median Household Income
$52,339
Median Earnings
$1,263
Median Rent
$321,317
Median Home Value
Tools
Lease vs Buy Breakeven
At $11.50/SF/Yr lease vs $338/SF buy → buying wins if held > 28.8 years.
At a 3.4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Cranston | $196 (county avg) | $19.04 |
| Scituate | $196 (county avg) | $18.50 |
| Johnston | $196 (county avg) | $24.23 |
Commercial property in Coventry, RI asks $338/SF. The 3 bordering markets run from $196/SF in Cranston to $196/SF in Cranston, and the city sits above their $196/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Coventry?
Commercial property in Coventry, RI asks an average of $338 per square foot. The 8 most recent recorded sales traded at a median of $417/SF. Multifamily carries the highest asking price at $217/SF.
How much does it cost to lease commercial space in Coventry?
Asking lease rates in Coventry, RI average $11.50 per square foot per year.
Is it cheaper to lease or buy commercial space in Coventry?
Buying beats leasing in Coventry, RI if the property is held longer than 28.8 years, comparing $11.50/SF/Yr asking rent with $338/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
How does Coventry compare to nearby markets on price?
Coventry, RI asks $338/SF against $196/SF in Cranston, $196/SF in Scituate and $196/SF in Johnston. Cranston is the cheapest entry point at 42% below Coventry pricing, with $19.04/SF/Yr asking rents.
What zoning applies to commercial property in Coventry?
Coventry, RI zones 39,764 acres across 14 districts, of which 1.4% is commercial and 2.6% industrial. The largest single district is Rural Residential 5 Acres at 41.5% of zoned land. RR-5 § 255-450 Special use permits. A. The Board shall have the power to grant a special use permit for the uses so designated in Article VI . B. In granting any special use permit, the Board shall require that evidence to the satisfaction of the following standards be entered into the record of the proceedings: (1) Ingress and egress to the lot and to exist… Residential zoning covers 74.5% and open space 0%.
Where does Realmo's Coventry market data come from?
Realmo compiles Coventry, RI figures from 8 recent recorded sales, 47 active sale listings, 23 active lease listings, 515 tracked off-market properties, the current Coventry zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 47 active for-sale and 23 active for-lease listings in Coventry, RI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 39,764 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
