Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 Aquidneck Ave Middletown, RI 02842

    Sponsored
    For Sale
    $4,200,000

    COMMERCIAL - Middletown, RI

    Lot size:
    0.57 Acres
    Days on Market:
    40
    Last Refresh:
    Jan 27 at 3:06 pm

    Property Features for 116 Aquidneck Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    LBA
    Rooms
    Basement
    Parking
    44
    Interior features
    Ceiling Height (12 to 15 Ft)
    Lot size
    0.57 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    1
    Building materials
    Frame, Masonry

    We can help!

    Listing Contact
    Mike Sweeney

    Gustave White Sotheby's International Realty (401) 849-3000

    Listing agent Mike Sweeney (401) 862-0164

    Listing date Dec 19, 2025

    MLS# 1401255

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Middletown Commercial Development Opportunity

    This offering features two adjacent, fully operational businesses available as a single package, presenting a development opportunity in Middletown, Rhode Island. Diego's Cantina, a 5,500 square foot Mexican restaurant and function venue with 166 seats, is a turnkey operation recognized as a Middletown establishment. The restaurant benefits from west-facing Easton Pond views, making it suitable for dining, private events, and year-round operations. Next door, Rejects Brewery provides 3,600 square feet of versatile space zoned LBA, accommodating various uses, including food service, manufacturing, and distribution. Combined, the properties create a 0.57-acre parcel with potential for future hotel development or mixed-use projects, while also offering the option to operate two established businesses. The LBA zoning of the brewery space allows for a wide range of uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Diego's Barrio Cantina Mexican Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Nail Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Glorious Affairs Ltd, Kempenaar's Clambake Club

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.284545
    Latitude
    41.492581

    Nearby Similar for Sale

    • New
      $3,995,000
      0.34 Acres

      Reimagined Family Compound in Middletown

      Luxurious 7-bedroom home with pool, spa, and legal apartment.
      14 Kay Blvd, Middletown, RI 02842
      View Details
    • $1,800,000
      0.25 Acres

      Turnkey Two-Family Home Near Beach

      Upgraded two-family home near the beach, ideal for investment.
      4 James St, Middletown, RI 02842
      View Details
    • $900,000
      0.35 Acres

      Spacious Middletown Home with Office

      Versatile property near beaches, shopping, and Newport.
      7 Restmere Ter, Middletown, RI 02842
      View Details
    • $1,875,000
      0.56 Acres

      Prime Commercial Opportunity Middletown, RI

      Two adjacent high visibility parcels on Rt 114.
      651 W Main Rd, Middletown, RI 02842
      View Details
    • $1,950,000
      1.42 Acres

      Middletown Office Building For Sale

      Office building with expansion potential in Middletown, Rhode Island.
      345 Valley Rd, Middletown, RI 02842
      View Details
    • $1,170,000
      Pending

      Middletown Commercial Property For Sale

      Commercial property in a high-traffic location with ample parking.
      72 E Main Rd, Middletown, RI 02842
      View Details
    • $399,900
      3.86 Acres

      Modern Business and Storage Complex

      Innovative Middletown development with customizable units and state-of-the-art amenities.
      300 Coddington Hwy, Middletown, RI 02842
      View Details
    • $895,000
      0.15 Acres

      Renovated Duplex Near Newport

      Updated duplex in Middletown, near beaches and downtown Newport.
      1 Shangri-La Ln, Middletown, RI 02842
      View Details
    • $1,150,000
      0.09 Acres

      Middletown Warehouse Condominium For Sale

      Warehouse condo with parking, storage, and office space available.
      1079 Aquidneck Ave, Middletown, RI 02842
      View Details
    • $399,900
      Pending

      Modern Business and Storage Complex

      Innovative business and storage complex in Middletown, RI.
      300 Coddington Hwy, Middletown, RI 02842
      View Details
    • New
      $2,200,000
      5,500 SF

      Turnkey Restaurant in Middletown, RI

      Fully operational restaurant with pond-front setting and renovated exterior.
      116 Aquidneck Ave, Middletown, RI 02842
      View Details
    • $1,999,000
      5,080 SF

      Middletown Commercial Opportunity For Sale

      Brewery, retail, or hospitality opportunity in prime Middletown location.
      124 Aquidneck Ave, Middletown, RI 02842
      View Details

    FAQs

    What type of property is this?
    Restaurant - Two established businesses with development potential in Middletown, Rhode Island.
    Where is this restaurant located?
    The property is located at 116 Aquidneck Ave Middletown, RI.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: - Two established, fully operational businesses (Diego's Cantina & Rejects Brewery) included in sale.; - Prime .57-acre development opportunity in the heart of Middletown.; - Diego's Cantina: Turnkey, 5,500 sq. ft. restaurant/venue with 166 seats and pond views.
    (401) 849-3000
    Request Owner's contact information
    116 Aquidneck Ave Middletown, RI 02842
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 Aquidneck Ave
    Middletown, RI 02842
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    116 Aquidneck Ave Middletown, RI 02842
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Sweeney
    (401) 849-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.