2 Fairway Dr Coventry, RI 02816
- Showrooms
- 1,344 SF
- 36.94 lot acres
Current Use by Public Records
- Showrooms
Property Details for 2 Fairway Dr
- Year built
- 1966
- Construction
- FRAME
- Lot size
- 36.94 lot acres
- Property size
- 1,344 SF
- Property type
- Showrooms
- APN
- COVE M:53 L:32-001
- APU
- COVEM53L32001
Description
This exceptional 36.94-acre property located at 2 Fairway Drive in Coventry, Rhode Island, presents a unique multifamily development opportunity. The land, previously the site of the Washington Village 9-hole golf course, offers significant potential for residential construction. Its prime location provides convenient access to a variety of amenities and retail options. Within a half-mile radius, residents will find Coventry Shopper's Park, home to Dave's Marketplace, Family Dollar, Dunkin' Donuts, Bank RI, and other local businesses. For larger shopping needs, the Centre of New England Boulevard, featuring national retailers such as Walmart Supercenter, Home Depot, BJ's Wholesale, and Cracker Barrel, is just 3.6 miles away. The property benefits from its proximity to Route 117 and is minutes from Route 2 and the retail corridor of Warwick. This strategic location offers easy access to major highways, making it an attractive location for both residents and businesses. The property is zoned for multifamily use and presents a compelling investment opportunity for developers seeking to capitalize on the growing demand for housing in the Coventry area. The substantial lot size allows for a large-scale development project, offering flexibility in design and unit configurations. This is a rare chance to acquire a significant parcel of land in a desirable location with excellent access to transportation and retail.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $470,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $315,000
- 6.5%
- $290,000
- 7%
- $270,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $513,000
- AI Estimate
- $363,000
Market price range: $153k - $513kMarket price range: $110k - $364k
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Location Insight
- Map
- Local Demand
- City
- Coventry
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.5694
- Latitude
- 41.6954
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA