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    FOR SALE
    Commercial land

    149 W Main Rd, Middletown, RI 02842

    0.87 ac lot
    Entity Owned 12-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US76-0294573
    Property summary
    AI-generated overview

    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
    Verified
    Property type Commercial land
    Use group VACANT COMMERCIAL LAND
    Lot 0.87 ac (37,897 SF)
    Zoning code OBA
    APN MIDD M:0108 B:00 L:33
    UPID US76-0294573
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
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    Owner & transaction history
    Cosann Realty Co · 12 yrs held
    Cosann Realty Co
    since 2013
    1 recorded transaction
    2013
    Zoning & alternative use
    OBA · Middletown, RI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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