487 Washington St Coventry, RI 02816
- Showrooms
- 7,366 SF
- 0.30 lot acres
Current Use by Public Records
- Moore's Motor Service, Inc. / Auto Repair Shop
Property Details for 487 Washington St
- Year built
- 1923
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.30 lot acres
- Property size
- 7,366 SF
- Zone code
- 2000
- Property type
- Showrooms
- APN
- COVE M:56 L:10
- APU
- COVEM56L10
Description
This exceptional investment opportunity presents a unique chance to acquire a fully equipped, 4,840 square foot automotive business located at 487 Washington Street in Coventry, Rhode Island. The property, built in 1923, sits on a substantial 13,068 square foot lot and includes a single building ideally suited for automotive repair or a similar business. The asking price for this owner-user opportunity is $800,000, offering a compelling chance to purchase both the established business and the real estate. This presents a turnkey solution for entrepreneurs seeking to establish or expand their operations within the automotive repair sector. The property's location in Coventry, RI, within Kent County, offers excellent access to local clientele and convenient transportation links. The property is classified as special purpose commercial land, reflecting its unique suitability for automotive-related businesses. The existing building's infrastructure is fully equipped for immediate operation, minimizing start-up costs and maximizing potential returns. This is a rare opportunity to acquire a well-established business and a strategically located property in a thriving market. The substantial lot size provides ample space for potential expansion or future development. This offering represents a strong investment prospect with significant potential for growth and profitability. The property's zoning and permitted uses should be independently verified.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $425,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $520,000
- 6.5%
- $585,000
- 7%
- $595,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $620,000
- Geo Method
- $590,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $555,000
- Retail
- $620,000
- Mixed-Use
- $525,000
- Hospitality
- $560,000
- Educational
- $550,000
- Residential Income
- $640,000
- Energy
- $475,000
- Income-Based Land
- $620,000
- Food Service
- $595,000
Location Insight
- Map
- Local Demand
- City
- Coventry
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.5391
- Latitude
- 41.6956
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
