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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    87 Centre Of New England Blvd Coventry, RI 02816

    • Showrooms
    • 12,000 SF
    • 1.84 lot acres
    For Sale
    View listing
    Last Sale
    Feb 23, 2023
    $1,690,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0159605
    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.

    Current Use by 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

    Property Details for 87 Centre Of New England Blvd

    Year built
    2007
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.84 lot acres
    Property size
    12,000 SF
    Zone code
    1200
    Property type
    Showrooms
    APN
    COVE M:5 L:14
    APU
    COVEM5L14

    Value 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

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,992,000
      Market price range: $1.37M - $4.58M
      AI Estimate
      $1,651,000
      Market price range: $979k - $3.25M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,500,000
      Current use
      OFFICE BUILDING
      $2,700,000
      Change: +8% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Coventry
    County
    Kent
    State
    Rhode Island
    Longitude
    -71.5718
    Latitude
    41.6618
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $30,721
    $440,400
    $939,700
    $1,380,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $14,885,000
      77,198 SF

      725 Ctr Of New England Blvd

      SHOW ROOM, WAREHOUSE • 77,198 SF
      725 Ctr Of New England Blvd, Coventry, RI 02816-6084
      View Details
    • Value Estimation by Request
      480 SF

      1240 Main St

      SHOW ROOM, WAREHOUSE • 480 SF
      1240 Main St, Coventry, RI 02816-5712
      View Details
    • Value Estimation by Request
      2,520 SF

      584 Washington St

      SHOW ROOM, WAREHOUSE • 2,520 SF
      584 Washington St, Coventry, RI 02816-5475
      View Details
    • Value Estimation
      $18,215,000
      112,360 SF

      790 Ctr Of New England Blvd

      SHOW ROOM, WAREHOUSE • 112,360 SF
      790 Ctr Of New England Blvd, Coventry, RI 02816-6083
      View Details
    • Value Estimation by Request
      2,344 SF

      40 Knotty Oak Rd

      SHOW ROOM, WAREHOUSE • 2,344 SF
      40 Knotty Oak Rd, Coventry, RI 02816-8303
      View Details
    • Value Estimation
      $1,955,000
      6,840 SF

      1600 Nooseneck Hl Rd

      SHOW ROOM, WAREHOUSE • 6,840 SF
      1600 Nooseneck Hl Rd, Coventry, RI 02816-6705
      View Details

    Similar Nearby for Sale

    • $574,900

      Prime Coventry Commercial Property

      Two Buildings, High Visibility, Multiple Uses
      1025 Tiogue Ave Tiogue Ave, Coventry, RI 02816
      View Details
    • $1,679,000

      Benjamin Square: Mixed-Use Investment

      Coventry, RI: Prime Mixed-Use Opportunity
      1193 Tiogue Ave Tiogue Ave, Coventry, RI 02816
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    • Contact for pricing
      4.90 Acres

      Coventry Commercial Property For Sale

      High-traffic location suitable for office, retail, or professional use.
      2435 Nooseneck Hill Rd, Coventry, RI 02816
      View Details
    • Contact for pricing
      1.87 Acres

      Coventry Commercial Space For Lease

      1,430 sq ft commercial space on busy Tiogue Avenue.
      1049 Tiogue Ave, Coventry, RI 02816
      View Details
    • Contact for pricing
      Pending

      Coventry Retail/Office Space Available

      4400 sq ft commercial space in high-traffic Coventry Plaza.
      1026 Tiogue Ave, Coventry, RI 02816
      View Details
    • Contact for pricing
      1,000 SF

      Coventry Commercial Condo with Garage

      Heated commercial condo with garage/storage and high-visibility signage.
      1012 Tiogue Ave, Coventry, RI 02816
      View Details

    Similar Nearby for Lease

    • $2,300 /Mo
      2,000 SF

      Coventry Retail Space Available

      2000 sq ft commercial space in fully occupied strip mall.
      1020 Tiogue Ave, Coventry, RI 02816
      View Details
    • Contact for pricing
      4,000 SF

      Retail Pad Building For Rent

      Retail pad building with great access and strong parking.
      731-739 Centre Of New England Blvd, Coventry, RI 02816
      View Details
    • $1,000 /Mo

      Updated Suites for Beauty, Wellness

      Recently updated suites for beauty and wellness businesses, various sizes.
      960 Tiogue Ave, Coventry, RI 02816
      View Details
    • $15 SF/Yr

      Coventry Retail Leasing Opportunity

      Versatile retail space available for lease in Coventry, Rhode Island.
      87 Centre Of New England Blvd, Coventry, RI 02816
      View Details
    • $15 SF/Yr
      25,000 SF

      Dollar Tree Plaza Retail Center

      Coventry, RI: Prime Retail Space Available
      760 Tiogue Ave, Coventry, RI 02816
      View Details
    • $13 SF/Yr
      11,250 SF

      282 Pulaski St

      Flex space • 11,250 SF
      282 Pulaski St, Coventry, RI 02816
      View Details
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    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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