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670-720 Centre of New England Blvd
Coventry, RI 02816

$5,740,000 USD

Freestanding For Sale  •  8,700 SF

Property Details

• Property Type Freestanding
• Total Building Size 17,340 SF
• Lot Size 1.74 AC
• Building Class B
• Year Built 2005
• Cap Rate 6.25 %
• Tenancy Multiple
• Zoning 3702

0 Transit Score

34 Walk Score

Highlights

Premier Outparcel Location: Strategically positioned alongside The Home Depot, Walmart, and BJ’s Wholesale Club

Attractive Investment Offering: Rare opportunity to acquire two separately parceled shopping centers totaling 17,340 square feet of GLA

Major Residential Growth: Star Development has commenced construction on a 362-unit townhome community and 350-unit apartment project.

Value-Add Potential: Approximately 8% of the center is available for second-generation lease-up, offering upside through new tenancy and rent growth.

Excellent Accessibility & Visibility: Prominently positioned along Centre of New England Boulevard, the main retail corridor in Coventry

Property Flyers

Home Depot Shadow - Coventry RI (Low Res)

Financial Summary (Actual)

Net Operating Income: $358,735 USD (2024)

Cap Rate:	6.25 %
Total Expenses:	$150,857 USD

Major Tenants

Tenant	SF Occupied	Lease End Date
BlackStone Herbs + Coffee Bar
Fashion Nails & Spa
Ocean State Shaolin
Supercuts
The Pizza Nomad
T-Mobile
Verizon

Amenities

• Bus Line
• Dedicated Turn Lane
• Freeway Visibility
• Signalized Intersection
• Drive Thru

Public Transportation

Airport	Drive	Walk	Distance
Rhode Island Tf Green International	23 min	-	12.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	57
Type:	Surface
Included in Rent:	Yes