The Reminder

Retail-Commercial for Sale
Catylist Listing ID: 30562908
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 1,915 SF
Gross Building Area: 3,370 SF
Gross Land Area: 0.43 Acres
Sale Price: $230,000
Unit Price: $120.10 PSF
Property Use Type: Vacant/Owner-User
Building Name: The Reminder
Usable Size (USF): 1,915 SF
Core Factor: 1,915%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/14/2020

Overview / Comments

Prime investment opportunity. Mixed Use commercial/residential property at a well known location in the heart of Coventry. Potential for an office building, retail store, medical/dental facility, pet grooming or conversion back to either a single family or duplex. The first floor unit was recently used as an office with a sales/reception area, 3 offices, staff area, bathroom and kitchen/break room. This first floor unit is ADA compliant and is 1,327 SF in size. Second Floor is a 1 bedroom residential unit consisting of an eat in kitchen, living room, bedroom and bathroom with 531 SF of space. Both units have recently been vacated and are ready for new occupants. The building has separated utilities including heat and electricity with central air. Parking for approximately 20 vehicles along the side and rear of the building. Located close to the Sandy Bottom and Main St. intersection directly on the RIPTA bus route.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $7,113 (Annual)
Tax Value Land $129,800
Tax Value Improvements $135,000
Assessed Value - Total($) $265,300 (Annual)
Potential Rental Income $33,600 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Taxing Authority: Coventry
Tax ID/APN: CO 46 10
Zoning: MIXED-USE
Retail Clientele: General, Business
Property Located Between: Sandy Bottom Road and Station Street
Property Visibility: Good
Largest Nearby Street: Main Street
Feet of Frontage: 74
Highway Access: Just 4.5 miles to I95 located between exits 6A and 7. Minutes from Coventry Town Hall and Tiogue Ave (Rt 3). On the RIPTA Bus route.
Airports: TF Green Airport, 7.6 miles away
Site Description: Sizable private parking lot to the rear of the building. Typical 1890's residential style. Neat landscaping detail along the front of the building. Lot surrounded by trees on both side and the bike path along the rear.
Area Description: Known as Washington Village, the area is a mix of commercial and residential. The area has car deals and service shops, grocery and retail stores, professional services, municipal building, and a mix of single family and mulit-family homes.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 1,327 SF
Property Condition: Good
Year Built: 1890
Year Renovated: 1999
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Exterior Description: Site is level with ramp access to the first floor commercial space. Parking is found along the west side and rear of the structure. Access to the residential unit is on the east side of the property. Site has lighted signage and is one property west of a red light at the Sandy Bottom Rd. intersection
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: Private surface level parking at the side and rear of the building.
Sprinklers: None
Heat Type: Electricity, Oil, Other
Heat Source: Baseboard, Central
Air Conditioning: Evaporative Cooler
Internet Access: Cable, Fiber Optic
Interior Description: Ground floor typical office set-up. Receptionist counter at entrance of the building and multiple desks and smaller office rooms throughout the ground floor. Small cafeteria/common area located at the rear of the building. Second floor residential unit has 1 bed, kitchen and living area.
Zoning Description: Mixed-Use
Lot Frontage: 74
Lot Depth: 227
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,193 60,134 106,137
Median Age: 43.27 41.09 42.95
Households: 2,686 24,712 43,386

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