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Property profile & analytics
OFF-MARKET Estimated value $815,000
Showrooms

487 Washington St Coventry, RI 02816-5466

7,366 SF 0.3 ac lot Built 1923
Individually Owned 3-yr Hold Absentee Owner Free & Clear
Property ID
US76-0420163
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1923
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 7,366 SF
Lot 0.3 ac (13,068 SF)
Zoning code 2000
APN COVE M:56 L:10
UPID US76-0420163
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Moore's Motor Service, Inc. Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$840k
Blend (final) Blend
$815k
Owner & transaction history
Michael A Moore · 3 yrs held
Michael A Moore
since 2023
1 recorded transaction
2023
Price N/A
Zoning & alternative use
2000 · Coventry, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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