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Nicky's Lounge 354 Tiogue Ave

2,406 SF Vacant Retail Building Coventry, RI 02816 $324,900 ($135/SF)

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Investment Highlights

Well known building
Can be used for commercial, retail, etc
Great loacation for your resturant or private club or a Pizzeria

Two floor with great squre feet
High traffic count

Executive Summary

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.

This well known, stand-alone location is Nicky's Lounge. Building is 1,522 square feet on the first floor with a second floor of 884. Total building of 2,406.
Great visibility on Tiogue Avenue with a great traffic count of close to 18,000 vehicles a day.
Ample on-site parking.
Building could be used for numerous retail or commercial use,.

Property Facts

Sale Type

Investment or Owner User

Sale Condition

Building in Shell Condition

Property Type

Retail

Property Subtype

Restaurant

Building Size

2,406 SF

Year Built/Renovated

1933/1980

Price

$324,900

Price Per SF

$135

Percent Leased

Vacant

Building Height

2 Stories

Building FAR

0.21

Lot Size

0.26 AC

Zoning

2000

Parking

10 Spaces per 1,000 SF Leased

Frontage

2,406 FT on Tiogue Avenue

Amenities

Bus Line
Corner Lot

Courtyard
Freeway Visibility

Restaurant

Signage

About 354 Tiogue Ave , Coventry, RI 02816

What a great opportunity redevelopment opportunity or remodel for this long established local bar. Ideal for a Restaurant or Pizzeria First floor consists of bar, pool table area, open area, small stage, men's and ladies rooms and kitchen. The second floor with an old bathroom, two large rooms which may have been an apartment in the past. Great standalone location. Minutes away from Route 95 and 295 and a short distance to airport. Busy traffic with great visibility. Ample on-site parking for 30/30 cars and potential for more if the covered courtyard barbeque area is removed. This level lot is mostly paved and consists of 11,325 square feet. It is a corner location and a short walk to Lake Tiogue.

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