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    651 W Main Rd Middletown, RI 02842

    For Sale
    $1,875,000

    COMMERCIAL - Middletown, RI

    Lot size:
    0.56 Acres
    Days on Market:
    19
    Last Refresh:
    Dec 12 at 12:06 am

    Property Features for 651 W Main Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Lighting
    Zoning
    GBA
    Parking
    40
    Lot size
    0.56 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1960
    Number of units
    2
    Building materials
    Masonry

    Hogan Associates | Christie's International Real Estate (401) 845-9500 [email protected]

    Listing agent Paul Tobak (401) 862-9962

    Listing date Nov 24, 2025

    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.

    Overview

    Prime Commercial Opportunity Middletown, RI

    This commercial opportunity includes two adjacent parcels situated on Route 114 in Middletown, Rhode Island, within Aquidneck Island's highest-traffic corridor. One parcel features Tito's Cantina, a Mexican restaurant established 38 years ago. This property includes a 2124-square-foot free-standing building on a 12,196-square-foot lot. The sale encompasses all licenses, including liquor and victualing licenses. The other parcel contains a single-story masonry retail strip center totaling 2950 square feet on a 12,197-square-foot lot, divided into three tenant spaces. Tenants are responsible for their own utilities. The property generates approximately $45,000 in annual gross rent. Together, the parcels comprise 24,393 square feet (0.56 acres) with 150 linear feet of frontage on Route 114. The location is directly across from Navy surplus land slated for redevelopment, which is poised to become a new commercial hub on Aquidneck Island. The zoning is GBA. The property can be used for conventional restaurants, restaurants, retail properties, strip malls, shopping malls, shopping centers, retail space, and individual retail properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tito's Cantina Mexican Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.299002
    Latitude
    41.520358

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    FAQs

    What type of property is this?
    Conventional restaurant - Two adjacent high visibility parcels on Rt 114.
    Where is this conventional restaurant located?
    The property is located at 651 W Main Rd Middletown, RI.
    What is the asking price?
    The asking price for this property is $1,875,000.
    What are key features of this property?
    This property features: - Prime commercial location on Rt 114, Aquidneck Island's highest-traffic corridor, with 150 linear feet of frontage.; - Includes established, iconic Mexican restaurant (Tito's Cantina) with 38-year history and all licenses (liquor, victualing).; - Two adjacent parcels totaling 0.56 acres, offering significant development or expansion potential.
    (401) 862-9962
    Request Owner's contact information
    651 W Main Rd Middletown, RI 02842
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    Middletown, RI 02842
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    Realmo Value Estimation

    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.

    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.

    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
    651 W Main Rd Middletown, RI 02842
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