Current Use by Public Records
- Retail properties & Spaces
Property Details for 32 Main Rd
- Lot size
- 0.45 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tiverton
- County
- Newport
- State
- Rhode Island
- Longitude
- -71.1846
- Latitude
- 41.6722
