Charlestown Boutique Hotel
For Sale
$3,000,000
Pending
10 Prosser, Charlestown, RI 02813
Boutique hotel with restaurant, pub, and suites.
Property Size14,474 SF
Lot Size4.44 Acres
Days on Market304
Property Features for 10 Prosser
General Information
Standard status
Pending
Size
14,474 SF
Lot size
4.44 Acres
Property subtype
Commercial
Building Details
Year Built
1940
Listing Agency:
RE/MAX IMPACT
(508) 717-3070
Listed By:
WILLIAM KUPHAL · License #9570629
Source:
Corcoran
Added: Sep 30, 2025
Changed: Jul 6
Last Checked: Jul 23 at 9:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX IMPACT
Investment Insights
Based on property information with market context.
Located in Charlestown, Rhode Island, this property offers a boutique hotel opportunity. The main building includes a restaurant space with seating for 100, suitable for events and dining, along with a professional kitchen. The property consists of four buildings with 21 guest rooms, each featuring private baths. Additionally, there is a two-bedroom, two-bathroom "Presidential Suite" located in a detached stone building. A separate pub with seating for 45 provides additional revenue opportunities. Situated directly on Route 1A, the inn benefits from high traffic, with over 18,000 vehicles passing daily, and is located near the ocean. Nearby attractions include East Matunuck State Beach, Newport, Providence, and casinos. The property awaits an owner to capitalize on its coastal location.
Key Highlights
- Prime coastal location on Route 1A with high traffic and close proximity to the ocean and beaches.
- Established boutique hotel with 21 guest rooms, each with private baths, providing immediate income potential.
- Restaurant space seating 100 and professional kitchen, ideal for events and dining revenue.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $260.5k | $18.00 |
| − Vacancy | −$10.9k | −$0.76 |
| EGI | $249.6k | $17.24 |
| − OpEx | −$62.4k | −$4.31 |
| NOI | $187.2k | $12.93 |
14,474 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.67M
$2.34M – $3.12M
NOI $187,192 @ 7.0% cap · market cap 6.24%
Second Best
Hotel Hospitality
$1.25M
$1.10M – $1.46M
NOI $87,658 @ 7.0% cap · market cap 2.92%
Theoretical Best
Healthcare Medical
$2.89M
$2.53M – $3.37M
NOI $202,433 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 02813, RI
8,021
Population
5,334
Households
1.5
Avg Household Size
53
Median Age
42%
College-Educated
94%
High-School Grad
36.7 sq mi
ZIP Area
219
Density / Sq Mi
$103,147
Median Household Income
$53,783
Median Earnings
$1,499
Median Rent
$467,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Hotel - Boutique hotel with restaurant, pub, and suites.
Where is this hotel located?
The property is located at 10 Prosser Charlestown, RI.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Prime coastal location on Route 1A with high traffic and close proximity to the ocean and beaches.; Established boutique hotel with 21 guest rooms, each with private baths, providing immediate income potential.; Restaurant space seating 100 and professional kitchen, ideal for events and dining revenue.
