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354 Tiogue Avenue, Coventry, RI, 02816 | $324,900
Long time owner says it is time to Retire!
Here is a great opportunity to revitalize a long, well-established local bar and update it to a modern DIVE BAR or SPEAK EASY.
This building is a great candidate for outstanding repurposing of this building for a restaurant, cigar bar, private club or maybe an ice cream stand, the list of new possibilities is endless.
This is a well-known and standalone building, with a busy traffic count. The building has a total square footage of 2406 sq. ft.
The first floor is currently the ongoing bar that operates 7 days a year and is 1522 sq. ft and has a covered patio area for outdoor seating that could make a great firepit area or outdoor kitchen.
The second floor has a bathroom and large open area that should be used as a meeting or event room or possibly an apartment for added income or the building owner to live in. This unfinished second floor space is 884 square feet.
A large corner lot of approximately 11. 325 sq. ft serves as ample parking for this building.
Features
- Property Type: Commercial
- Permitted Use: Commercial,Medical/Dental,Mixed Use,Office
- Construction: Frame
- Utilities: Electricity Available,Natural Gas Available,Natural Gas Connected,Municipal Utilities,Phone Available,Water Connected
- Parking: 20-car
- Heating: Baseboard,Hot Water,None
- Amenities: Golf,Highway Access,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Tennis Court(s),High Traffic Location,Street Lights
- Units: 2
- Year Built: 1933
- Est. Taxes: $7,140
- Lot Desc: Corner Lot
- MLS#: 1358191
- Website: https://www.raveis.com
/prop/1358191/354tiogueavenue_coventry_ri?source=qrflyer
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Whitney RuggVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 7654
401.474.4879
Whitney.Rugg@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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354 Tiogue Avenue, Coventry, RI, 02816
$324,900
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Whitney Rugg
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $259,920 | $259,920 | $259,920 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.508% | 7.171% | 6.392% |
| Monthly Tax Payment | $595 | $595 | $595 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,773 | $1,728 | $2,211 |
| Total Monthly Payment | $2,443 | $2,398 | $2,881 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB