149 W Main Rd Middletown Middletown, RI 02842
Property summary
This exceptional 0.87-acre commercial lot, located at 149 W Main Road in Middletown, Rhode Island, presents a unique redevelopment opportunity. The property boasts 131 feet of frontage along West Main Road and extends approximately 290 feet in depth. Previously occupied by a McDonald's restaurant, the site features two existing drive-thru lanes, two curb cuts, and twelve high-intensity pole lamps. The land is cleared, graded, and environmentally clean, ensuring a streamlined development process. Utilities are readily available, including a well and municipal water, municipal sewer, public gas, and three-phase public electric service. The property is zoned OBA (Office/Business - Traffic Sensitive), reflecting its prime location within Middletown's main commercial corridor, near the intersection of state routes 114 and 138. This strategic location places the property in close proximity to a variety of national retail and professional businesses, as well as significant institutions such as the Naval War College, the Community College of Rhode Island (CCRI) Newport Campus, and Newport Grand. The property is offered for sale at $950,000, and a net-net-net (NNN) land lease option is also available. This presents a compelling investment opportunity for developers seeking a high-visibility site in a thriving commercial area.
Property profile
VerifiedCap rate & NOI
Value estimations
Owner & transaction history
Zoning & alternative use
This purpose of this district is established to provide areas for planned office parks, light industrial and research centers and professional office buildings
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
OBA · Middletown, RIThis purpose of this district is established to provide areas for planned office parks, light industrial and research centers and professional office buildings
Zoning
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Zoning designation
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The district profile from the municipal source: what is on file for OBA in Middletown, RI.
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