Mixed-use Residential/Commercial 4 Properties in Coventry, RI

Portfolio of 4 assets, plus 0.28 ac vacant parking lot (17 residential units & 5 commercial units (retail & office))
Mixed-Use Investment Opportunity in Coventry, Rhode Island
This mixed-use investment property consists of 7 buildings and offers a diverse combination of residential and commercial units. Located in Coventry, RI, with close proximity to West Warwick and Western Cranston, this property offers both solid rental income and significant potential for future growth.
Property Overview
Residential Units: 17 units, all currently occupied by long-term tenants on month-to-month leases. This provides flexibility for future rent increases or potential repositioning of the units.
Commercial Units: 5 units, including:
Restaurant: Bar & Grill (established business)
Diner: Breakfast and Lunch (popular local eatery)
Barber Shop (fully operational)
Accountant’s Office (professional service tenant)
Vacant Space: A 1,500-square-foot commercial unit currently vacant, offering potential for lease or redevelopment.
Property Updates
Vinyl Siding: The buildings have been updated with low-maintenance vinyl siding, enhancing the property's appearance and durability.
Roof Updates: Some of the roofs have been replaced or updated, providing additional peace of mind regarding future maintenance.
Paved Parking Lot: The property features a large, paved parking lot with ample parking space, which is beneficial for both residential and commercial tenants.
Location
Coventry: This location is situated in the desirable town of Coventry, Rhode Island, which offers a mix of suburban living and access to nearby urban centers.
Proximity: Close to West Warwick and Western Cranston, the property enjoys easy access to major roads, highways, and retail centers, making it an attractive location for tenants.
Leasing and Income Potential
Residential: Long-term residential tenants on month-to-month leases provide flexibility, with opportunities to adjust rents or upgrade units for higher rental income.
Commercial: The commercial units are all under lease agreements, generating steady income from established local businesses. The vacant 1,500-square-foot space presents an opportunity to either attract a new tenant or potentially convert it for a different use.
Investment Highlights
Strong Long-Term Residential Tenants: Stability provided by long-term, month-to-month tenants in residential units.
Established Commercial Businesses: Restaurant, diner, barber shop, and accountant’s office are operating businesses with reliable income streams.
Growth Potential: The vacant commercial space provides the possibility for additional rental income or a new business venture.
Recent Upgrades: Investment in property improvements such as vinyl siding, roof updates, and parking enhancements reduces future maintenance costs and adds value.
This mixed-use investment property in Coventry, Rhode Island, offers an excellent opportunity for investors seeking stable income from both residential and commercial leases, with potential for increased returns from the vacant commercial space. The property’s location, maintenance updates, and solid tenant base make it a promising addition to any real estate portfolio.