Conventional Restaurant with Outdoor
125 Main Street, Westerly, RI 02891
For Sale
$199,000
Commercial/Business, Westerly, RI
Property Size1,500 SF
Lot Size2.26 Acres
Price / SF$132.67
Days on Market139
Property Features for 125 Main Street
General Information
Property type
Property subtype
Zoning
Parking
Security features
Interior features
Lot features
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Business Included
Taxes and HOA fees
Tax Year
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Listing Agency:
Coldwell Banker Coastal Homes · Coldwell Banker Real Estate
(401) 596-6333
Listed By:
Mark Wright
(401) 787-5203
Added: Jun 25
Changed: Oct 27
Last Checked: Nov 10 at 10:06AM
MLS# 1416336
Copyright © 2026 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.
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Investment Insights
Based on property information with market context.
This conventional restaurant property includes a 1,500-square-foot building with brick and masonry construction, a seasonal outdoor patio, and all inventory and equipment located on the premises. The operation has been in business for 60 years and is situated on a 2.26-acre parcel. Interior features include 9- to 12-foot ceiling heights. The property was built in 1975 and has natural gas, zoned heating with ductless cooling, and DC2 zoning.
Key Highlights
- 1,500 SF restaurant building on 2.26 acres
- 60‑year operating history
- Outdoor patio supports seasonal dining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,209
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,180
$304.2K
Cap Rate 7%
$217,271
$217.3K
Cap Rate 9%
$168,989
$169.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$22.7K $15.12/SF
− Vacancy
−$953 −$0.64/SF
EGI
$21.7K $14.48/SF
− OpEx
−$6.5K −$4.35/SF
NOI
$15.2K $10.14/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$304,180
Cap Rate 7%
$217,271
Cap Rate 9%
$168,989
Alternative Uses
Best Use
Specialty Retail
$277.1K
$242.5K – $323.3K
NOI $19,400 @ 7.0% cap · market cap 9.75%
Second Best
Retail
$217.3K
$190.1K – $253.5K
NOI $15,209 @ 7.0% cap · market cap 7.64%
Theoretical Best
Healthcare Medical
$299.7K
$262.2K – $349.7K
NOI $20,979 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 87%
Dining 13%
Mobil
Shops & Services
6,362 visits/mo
0.2 miles
Shell
Shops & Services
4,487 visits/mo
0.2 miles
The Cafe
Dining
1,584 visits/mo
0.4 miles
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established pizza restaurant with on-site equipment, inventory, and seasonal outdoor dining area.
Where is this conventional restaurant located?
The property is located at 125 Main Street Westerly, RI.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 1,500 SF restaurant building on 2.26 acres; 60‑year operating history; Outdoor patio supports seasonal dining
