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    1010 Tiogue Ave Coventry, RI 02816
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    1010 Tiogue Ave Coventry, RI 02816

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    • Warehouses
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Chariho Oil Service, LLC / Gas Station
    • JFW Construction LLC / Construction Company
    • Atlantic Trophy / Textile Manufacturer / Factory
    • Chariho Oil Services / Big Box & Wholesale Store
    • ZK Finishing School / Training Center / Vocational School

    Property Details for 1010 Tiogue Ave

    Year built
    1988
    Property type
    Warehouses
    Property subtype
    Lifestyle centers

    Description

    This exceptional mixed-use commercial condominium in Coventry, Rhode Island, presents a unique investment opportunity. Located at 1010 Tiogue Avenue, Unit 10, this 1988-built property features two units within a single-story building and offers a versatile layout ideal for a variety of businesses. The main bay boasts nearly 20-foot ceilings and a large overhead door, easily accommodating large vehicles, equipment, or substantial inventory. A loft area above the bay provides additional storage space, complete with a shower and laundry hookups. A separate office area with its own kitchen and bathroom offers flexible workspace, or could be converted to increase ground-floor square footage. The property's adaptability makes it suitable for diverse uses, including auto detailing, classic car storage, furniture staging, or even a small warehouse. The lot size is not specified. This move-in ready property is situated in Kent County, Rhode Island, with a zip code of 02816. The asking price is $209,900. This is a rare opportunity to acquire a versatile commercial space with significant potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Coventry
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5751
    Latitude
    41.6797

    Comparable in this City

    • Value Estimation by Request

      1193 Tiogue Ave Tiogue Ave

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      1193 Tiogue Ave Tiogue Ave, Coventry, RI 02816
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      1025 Tiogue Ave Tiogue Ave

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      1025 Tiogue Ave Tiogue Ave, Coventry, RI 02816
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    • Value Estimation by Request
      2,018 SF

      1010 Tiogue Ave

      Office Units • 2,018 SF
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    • Value Estimation by Request

      1010 Tiogue Ave

      Office Units
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      354 Tiogue Ave Tiogue Ave

      Restaurants
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      4,000 SF

      639 Main St

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    Similar Nearby for Sale

    • $549,900
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      Versatile Commercial Property For Sale

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    • $1,450,000

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      Versatile Mixed-Use Commercial Property

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    Similar Nearby for Lease

    • $0.02 SF/Yr
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      Benjamin Square Office Building

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      Coventry Retail/Office/Warehouse Space Available

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      Coventry Retail/Office/Warehouse Space Available

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    • $15 SF/Yr
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      High Traffic Location Space Available

      Office, retail, or professional space in high-traffic area.
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    • $1,990 /Mo

      Versatile Commercial Units Available

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    • $2,300 /Mo
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      Coventry Retail Space Available

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    Coventry, RI 02816
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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