Waterfront Restaurant
For Sale
$720,000
15 Point Road, Portsmouth, RI 02871
Commercial/Business, Portsmouth, RI
Property Size2,500 SF
Lot Size0.24 Acres
Price / SF$288
Days on Market141
Property Features for 15 Point Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
Rooms
Basement
Parking
15
Interior features
Ceiling Height (9 to 12 Ft)
Basement
Full
Subdivision
Island Park
Lot features
Corner Lot, Paved, Sidewalks, Free Standing
View
Water
Standard status
Active
Size
2,500 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5559
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water front features
Waterfront
Water front
1
Building Details
Year built
1940
Floors in Building
2
Number of units
1
Building materials
Frame
Listing Agency:
Gustave White Sotheby's Realty · Sotheby's International Realty
(401) 849-3000
Listed By:
Mike Sweeney
(401) 862-0164
Added: Jun 9
Changed: Oct 16
Last Checked: Oct 27 at 12:06PM
MLS# 1414904
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 freestanding restaurant business occupies a 2,500-square-foot building with two dining rooms, including an upper-level room with water views and a lower-level dining area. The operation includes a full bar, outdoor dining, and an outdoor bar positioned along the waterfront. Furnishings, fixtures, and equipment convey with the business, supporting a ready-to-operate restaurant format.
The property is located at 15 Point Road in Portsmouth, Rhode Island, and includes on-site parking. The building dates to 1940 and features frame construction, forced-air heating, central air, 9- to 12-foot ceilings, and a septic tank. This offering is for the business only; the real estate is not included.
The property is located at 15 Point Road in Portsmouth, Rhode Island, and includes on-site parking. The building dates to 1940 and features frame construction, forced-air heating, central air, 9- to 12-foot ceilings, and a septic tank. This offering is for the business only; the real estate is not included.
Key Highlights
- Business sale excludes the real estate
- Waterfront restaurant at 15 Point Road, Portsmouth, RI 02871
- 2,500‑square‑foot freestanding building with two dining rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,288
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
$725.8K
Cap Rate 7%
$518,400
$518.4K
Cap Rate 9%
$403,200
$403.2K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$54.0K $21.60/SF
− Vacancy
−$5.6K −$2.25/SF
EGI
$48.4K $19.35/SF
− OpEx
−$12.1K −$4.84/SF
NOI
$36.3K $14.52/SF
Area
Newport County, RI
Vacancy
10.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
Cap Rate 7%
$518,400
Cap Rate 9%
$403,200
Alternative Uses
Best Use
Specialty Retail
$518.4K
$453.6K – $604.8K
NOI $36,288 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$596.5K
$521.9K – $695.9K
NOI $41,755 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
5k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
4,910 visits/mo
0.4 miles
Demographics for 02871, RI
17,640
Population
8,044
Households
2.2
Avg Household Size
47
Median Age
60%
College-Educated
96%
High-School Grad
17.1 sq mi
ZIP Area
1,032
Density / Sq Mi
$119,135
Median Household Income
$56,615
Median Earnings
$1,577
Median Rent
$539,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding dining operation with water views, two dining rooms, outdoor service areas, and on-site parking.
Where is this conventional restaurant located?
The property is located at 15 Point Road Portsmouth, RI.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Business sale excludes the real estate; Waterfront restaurant at 15 Point Road, Portsmouth, RI 02871; 2,500‑square‑foot freestanding building with two dining rooms
