Current Use by Public Records
- Commercial real estate
Property Details for Main Rd
- Year built
- 1900
- Lot size
- 0.44 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity in Tiverton, Rhode Island presents a rare chance to acquire a portfolio of three income-generating buildings situated on a 0.44-acre lot. The property comprises a total of thirteen rentable units, currently generating an annual gross income of $98,280. Significant upside potential exists due to below-market rents. The main building, located at 28-32 Main Road, is a mixed-use structure encompassing four residential units totaling 4,270 square feet and two retail storefront units totaling 1,522 square feet. A second building at 36 Main Road features a large 2,748-square-foot storefront space, potentially divisible into two units, along with a spacious storage room, bathroom, and two sizable garage units adding 2,457 square feet. Finally, 27 Rock Street houses three garage units and a spacious office loft area, with each floor offering 1,118 square feet. This unique property offers a diverse range of rental options, catering to a variety of tenants. The substantial existing income stream, combined with the potential for rent increases, makes this a compelling investment prospect with strong long-term growth potential. The property is priced at $1,400,000.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Tiverton
- County
- Newport
- State
- Rhode Island
- Longitude
- -71.1844
- Latitude
- 41.673
