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Property profile & analytics
FOR LEASE
Showrooms
87 Centre Of New England Blvd Coventry, RI 02816
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US76-0159605
For Lease
1 / 7
$15 SF/Yr
87 Centre Of New England Blvd, Coventry, RI 02816
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,000 SF
Lot
1.84 ac (80,150 SF)
Zoning code
1200
APN
COVE M:5 L:14
UPID
US76-0159605
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
-
Team Diesel Inc Auto Repair Shop
-
CSM Truck Sales Car Dealership
-
Hallam's Marine Service LLC (Bike/Boat/Book/etc) Store
-
Ace Dumpster Rental / Ace Holding General Contractor Waste Management Facility
-
Alpha Construction LLc Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.20M
CAP Approach
CAP
$2.28M
Comparable Approach
Comparable
$1.99M
Blend (final)
Blend
$1.96M
Owner & transaction history
Florida Properties LLC · 3 yrs held
Florida Properties LLC
since 2023
Last sale
$1.7M
3 recorded transactions
Zoning & alternative use
1200 · Coventry, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+7.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Coventry submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Coventry submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,235,000
ML approach
$2,200,000
CAP Approach
CAP Return
Estimation
6%
$2,470,000
6.5%
$2,280,000
7%
$2,120,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,500,000
Current use
OFFICE BUILDING
$2,700,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±10% · vs last sale $1.69M (Feb 23 2023)
Last sale anchor
$1.69M
Feb 23 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$163 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$30,721
Tax year 2024
Assessed value
$1,380,100
Assessed 2024
Previous assessed
$1,380,100
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$440,400
Assessed improvement
$939,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
10
Bathrooms
10
Total area
12,000 SF
Lot
1.84 ac (80,150 SF)
Zoning code
1200
APN
COVE M:5 L:14
UPID
US76-0159605
Jurisdiction
COVENTRY
Zoning & alternative use
1200 · Coventry, RI
Zoning 1200 · permitted uses
1200 · Coventry, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Coventry. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
10
Bathrooms
10
Lot
1.84 ac
Current owner
From public records · entity-resolved
Florida Properties LLC
Entity
Mailing address
87 CTR OF NEW ENGLAND BLVD, COVENTRY, RI 02816-6067
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2023
$1,690,000
Florida Properties LLC
87 Cne LLC
Warranty Deed
$1 · Centreville Bank
Oct 23, 2020
$1,100,000
87 Cne LLC
Kreg LLC
Warranty Deed
$850,000 · Bristol County Savings Bank
Jan 22, 2013
$5,006
Commerce Park Realty LLC
Commerce Park Realty LLC
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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