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    Three-Unit Waterfront Restaurant Building Title is generated by Realmo AI

    382 Thames Street Bristol, Bristol, RI 02809

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    Claim this Listing
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    For Sale
    $1,695,000

    Standalone three-unit property with two long-term NNN restaurant tenants and a third warehouse unit available for lease.

    Property size:
    6,516 SF
    Price / SF:
    $260/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 2:12 am

    Property Features for 382 Thames Street Bristol

    General Information

    Standard status
    Active
    Size
    6,516 SF

    Building Details

    Year Built
    1900

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    Listing Contact
    Debra Viveiros

    Listing agent Debra Viveiros

    Listing office

    Listing date Jun 4, 2026

    Source Milestonerealtyinc

    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 Debra Viveiros

    HighLights

    • Free‑standing three‑unit building in Bristol’s Waterfront District
    • Two units are currently occupied by independent restaurants with long‑term NNN leases
    • Third unit is a warehouse‑type space available for lease with over 2,500 SF
    • Over 115 feet of frontage directly across from Bristol Harbor, the East Bay bike path and Independence Park
    • Separate utilities and off‑street parking, with easy access by car, bike or on foot
    • Walking distance to Bristol Harbor Inn Hotel & Event Center and other downtown Bristol attractions

    Overview

    This free-standing three-unit building includes two spaces currently occupied by independent restaurants under long-term NNN leases, plus a third warehouse-type unit presently occupied by the owner and offered for lease at a size of over 2,500 square feet. The property is configured as separate units with separate utilities and includes off-street parking for easy customer and employee access. The building offers more than one operating option within the same asset, with the third unit intended for future tenancy.

    Located in the Waterfront District, the property provides over 115 feet of frontage directly across from Bristol Harbor, the East Bay bike path, and Independence Park. It is also described as being within walking distance to the Bristol Harbor Inn Hotel and Event Center and other downtown attractions, supporting straightforward access by car, bike, or foot in a high-traffic downtown setting.

    For restaurant operators, investors, or buyers seeking a mixed-use configuration, the current arrangement provides in-place restaurant occupancy on NNN terms while also leaving the remaining unit available to lease. Prospective purchasers should perform their own due diligence regarding any potential alternative uses or legislative changes discussed in the remarks, including confirming feasibility, approvals, and requirements on their own.

    Local 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 $160.3k $24.60
    − Vacancy −$6.1k −$0.93
    EGI $154.2k $23.67
    − OpEx −$38.6k −$5.92
    NOI $115.7k $17.75
    6,516 SF · lease $24.60/SF/yr · vacancy 3.80% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.65M
    $1.45M – $1.93M (±1% cap)
    NOI $115,652 @ 7.0% cap · market cap 6.82%
    Second Best
    Warehouse
    $1.03M
    $898.1K – $1.20M (±1% cap)
    NOI $71,847 @ 7.0% cap · market cap 4.24%
    Theoretical Best
    Office A
    $2.18M
    $1.91M – $2.54M (±1% cap)
    NOI $152,597 @ 7.0% cap · market cap 9.00%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Pisco&tequila Restaurant Tong Phoon Restaurant Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2784109
    Latitude
    41.672252

    FAQs

    What type of property is this?
    Conventional restaurant - Standalone three-unit property with two long-term NNN restaurant tenants and a third warehouse unit available for lease.
    Where is this conventional restaurant located?
    The property is located at 382 Thames Street Bristol Bristol, RI.
    What is the asking price?
    The asking price for this property is $1,695,000.
    What are key features of this property?
    This property features: Free‑standing three‑unit building in Bristol’s Waterfront District; Two units are currently occupied by independent restaurants with long‑term NNN leases; Third unit is a warehouse‑type space available for lease with over 2,500 SF
    More about this property
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