Coddington Cove Commons | 300 Coddington Hwy
Why We Love It
300 Coddington Highway, Middletown RI 02842
Introducing Coddington Cove Commons, a premier tradesmen condominium association strategically located at 300 Coddington Highway in Middletown, Rhode Island. This innovative development offers two prime units for sale within the first of four planned buildings, positioned along the high-traffic Coddington Highway. Each unit is 1,142- 1,243 SqFt and units can be combined for larger configurations of up to 4 units. The project is set to deliver a total of 48 units, with an expected completion date of Summer 2025, providing an exceptional opportunity for tradesmen seeking modern, purpose-built commercial space. These units represent an ideal investment for professionals looking to establish or expand their business in a purpose-designed facility that caters specifically to the needs of skilled trades.
SALE PRICE:
$425,000 | $395,000
SALE PRICE:
Unit 102: $425,000
Unit 104: $395,000
PROPERTY TYPE:
Tradesmen Condo Association
AVAILABLE SPACE:
Unit 102: 1,243 SqFt
Unit 104: 1,142 SqFt
Can be combined for a 2,385 SqFt Unit
AVAILABLE DATE:
Anticipated completion of Building 1: Summer 2025
GROUND LEASE INFORMATION:
The Land owner (Mello Realty) will ground lease the property to Coddington Cove Commons. CCC will then declare Condo Association. Condo units would be financed, built, and owned, subject to the underlying 99 year ground lease. In the event that the ground lease is not renewed at the end of 99 years, the association could have a right of first refusal to purchase the land at that time.
FRONTAGE:
Unit 102 has frontage along Coddington Highway
BATHROOMS:
One bathroom build out per unit.
ELECTRIC:
Power and lighting as required to meet local code. 100 Amp Electrical service, (upgraded services available pre-construction at additional cost). A Limited amount of 3 phase services can be provided for additional cost and on a first come first served basis.
SEWER:
Publicly Connected
WATER:
Hot & Cold water (HW provided by a stand alone hot water heater sized for the restroom)
OVERHEAD DOOR:
Industrial style manual hoist 14’ x 14’ coiling door, locking 3’0” x 7’0” entry door
MEZZANINE:
A mezzanine can be included for an additional $18,000
PLAT/ LOT:
103 / 103
NUMBER OF UNITS:
At project completion, there will be a total of 4 buildings with up to 12 units per building. Total of 48 Condo units.
LOCATION:
Located on heavily traveled Coddington Highway: North of CCRI and the RIPTA Center, south of Coddington Brewery and Bay View Mobile home park,
PARKING:
2 parking spaces come with the typical unit. Spaces can be labeled/dedicated to units (pursuant to condo association signage rules). Additional visitor parking is available. additional dedicated parking may be negotiated pre-construction on a first come first served basis.
HEAT/AIR:
Gas Heat. AC can be installed as a developer option (for additional cost) or by end users. Condenser locations to be determined by the HOA and local code.
LANDSCAPING/SNOW REMOVAL:
Condo Association responsible
TRASH:
Dumpsters are expected to be kept within units after hours or in Owner designated parking space during the day.
CONDO ASSOCIATION:
Coddington Cove Commons
CONDO CAPITAL RESERVE REQUIREMENTS:
$3,000 one time contribution made at time of closing. Monthly reserve contribution to be set by HOA but currently budgeted as 10% of condo budget exclusive of lease rate
CONDO DOCUMENTS:
Are currently in progress and will be shared with all owners prior any non-refundable deposits being accepted. The HOA documents are currently being developed and turn over of the buildings to the HOA will be in accordance with RI condo law. We anticipate this to begin at 60% occupancy.
ZONING:
Li-1
RESTRICTED USES:
Any use that is permitted under town zoning table. Developer will assist in permitting, but any Special use permits or other required zoning changes are buyers sole responsibility