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    2270 New London Tpke Coventry, RI 02816
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    Property profile & analytics

    2270 New London Tpke, Coventry, RI 02816

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    • Commercial real estate
    • 53.88 lot acres
    Off-Market
    Property ID
    US76-0395077
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2270 New London Tpke

    Lot size
    53.88 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 53.88-acre parcel, located at 2270 New London Turnpike in Coventry, Rhode Island (zip code 02816), presents a remarkable opportunity for residential development. The property, known as New London Preserve, boasts approved plans for a 75-lot single-family residential community. Situated in Kent County and abutting the East Greenwich town line, this site offers convenient access via two points on New London Turnpike and one on Crompton Road. Preliminary site work has already been completed, streamlining the development process. The master plan includes provisions for public water and sewer infrastructure, enhancing the desirability and value of the future homes. This expansive land offers a unique chance to create a thriving residential community in a desirable Rhode Island location. The property's strategic location and existing approvals make it an attractive investment for developers seeking a ready-to-build residential project. Detailed plans and approvals are available upon request. This is a rare opportunity to acquire a large, well-situated parcel with significant development potential in a growing area. Don't miss this chance to build a successful residential community.

    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
    -71.538030496579
    Latitude
    41.665444582159

    Comparable in this City

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      Riverfront Restaurant with Income Apartments

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      Coventry Two-Family Property For Sale

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    Similar Nearby for Sale

    • $499,000
      Pending

      Coventry Two-Family Home For Sale

      Well-maintained duplex in Coventry, RI, ideal for investors or owners.
      31 Anthony St, Coventry, RI 02816
      View Details
    • $650,000
      4,052 SF

      Riverfront Restaurant with Income Apartments

      Renovated restaurant/bar with two apartments in high-traffic location.
      1152 Main St, Coventry, RI 02816
      View Details
    • Contact for pricing
      7,871 SF

      Mixed-Use Property with Parking

      Mixed-use property featuring retail, residential, and parking.
      26 Lamphear St, Coventry, RI 02816
      View Details
    • Contact for pricing

      Coventry Multifamily Investment Opportunity

      Well-maintained 6-unit residential property in a convenient location.
      505 Washington St, Coventry, RI 02816
      View Details
    • $800,000
      0.23 Acres

      Coventry, RI Investment Opportunity

      Well-maintained 5-unit residential property in a convenient location.
      513 Washington St, Coventry, RI 02816
      View Details
    • New
      $485,000
      3,647 SF

      Coventry Two-Family Property For Sale

      Spacious two-family home in desirable Coventry location.
      29 Anthony St, Coventry, RI 02816
      View Details

    Similar Nearby for Lease

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      Commercial Land For Lease

      Commercial land available for lease, ideal for drive-thru business.
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      Commercial Land For Lease

      Commercial land available for lease, ideal for drive-thru business.
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    • $0.02 SF/Yr
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      Benjamin Square Office Building

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      Commercial Land For Lease

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      Coventry Retail/Office/Warehouse Space Available

      8,836 SF versatile space for office, retail, or warehouse.
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      2,000 SF

      High Traffic Location Space Available

      Office, retail, or professional space in high-traffic area.
      2435 Nooseneck Hill Rd, Coventry, RI 02816
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    2270 New London Tpke
    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.

    More about this property
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    2270 New London Tpke, Coventry, RI, 02816
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