670-720 Centre of New England Blvd - Freestanding FOR SALE


Coventry, RI 02816
$5,740,000 USD
602-790-9036
670-720 Centre of New England Blvd, Coventry, RI for Sale
$5,740,000 USD
Freestanding - FOR SALE
1/6
null | 6.25% Cap Rate

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


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

OVERVIEW

Anchor Net Lease is pleased to present 670 & 720 Centre of New England Boulevard, two adjacent shopping centers totaling 17,340 square feet. This offering provides a rare opportunity to acquire a 92% leased retail asset strategically positioned within one of Rhode Island’s fastest-growing trade areas.   The properties are located along Centre of New England Boulevard, within the well-established Centre of New England 4+ million square foot mixed-use development. The site benefits from exceptional visibility and accessibility, positioned between two interchanges along Interstate 95, which sees traffic counts exceeding 71,000 vehicles per day. Located 15 miles south of downtown Providence, 15 minutes from Rhode Island T.F. Green International Airport and situated between two Interstate 95 interchanges, the Centre of New England provides convenient access for both regional and national visitors. The Property’s location also provides commuter access to Newport, Rhode Island; one of the state's major employers and resort hubs.   The Centre of New England features a strong lineup of national retailers, including Walmart, The Home Depot, BJ’s Wholesale Club, Cracker Barrel, McDonald’s, Wendy’s, and others. The surrounding area is poised for significant growth, with over 712 new residential units currently under development. These projects will further enhance the area’s already strong demographics, which include a population of over 90,000 and an average household income of $132,417 within a 5-mile radius.

FOR SALE DETAILS

PRICE

$5,740,000 USD

PRICE/SF

$660 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Home Depot Shadow

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

57

LAND DETAILS

LAND ACRES

1.74 AC

LAND SF

75,794 SF

ZONING

3702

APN/PARCEL ID

0006-001.002,0007-002.003

ASK ABOUT THIS PROPERTY

Ryan O'ConnellAnchor Net LeaseMore Info
602-790-9036

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Ryan O'ConnellAnchor Net LeaseMore Info
602-790-9036

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.