Freestanding Waterfront
15 Point Road Portsmouth, RI 02871
For Sale
$720,000
COMMERCIAL - Portsmouth, RI
Property Size2,500 SF
Lot Size0.24 Acres
Price / SF$288
Days on Market50
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
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
(401) 849-3000
Listed By:
Mike Sweeney
(401) 862-0164
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 28 at 2:06AM
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.
Investment Insights
Based on property information with market context.
This freestanding waterfront restaurant is presented as a turnkey operation, including fixtures, furnishings, and equipment (FF&E). The concept features a full bar and two dining rooms, with one on the lower level and an additional dining area on the upper level. Outdoor dining and an outdoor bar overlook the water, supporting year-round guest options depending on season.
The property is located at 15 Point Road in Portsmouth, Rhode Island. On-site parking is available for guests, providing convenient arrival and departure for diners.
Please note the listing is offered as business only; the real estate is not included with this sale. Interested parties should contact the listing agent for available financial information and any applicable lease terms. For operators seeking a prepared restaurant format with an established layout that already supports indoor and outdoor service, this configuration offers a straightforward path to new ownership while maintaining the existing bar-and-dining setup.
The property is located at 15 Point Road in Portsmouth, Rhode Island. On-site parking is available for guests, providing convenient arrival and departure for diners.
Please note the listing is offered as business only; the real estate is not included with this sale. Interested parties should contact the listing agent for available financial information and any applicable lease terms. For operators seeking a prepared restaurant format with an established layout that already supports indoor and outdoor service, this configuration offers a straightforward path to new ownership while maintaining the existing bar-and-dining setup.
Key Highlights
- Waterfront restaurant business only; real estate not included (see MLS #1399145 for both business and real estate)
- Comes fully furnished with FF&E, including fixtures, furnishings, and equipment
- Full bar plus two dining rooms (one on the lower level and one on the upper level with water views)
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 | $54.0k | $21.60 |
| − Vacancy | −$5.6k | −$2.25 |
| EGI | $48.4k | $19.35 |
| − OpEx | −$12.1k | −$4.84 |
| NOI | $36.3k | $14.52 |
2,500 SF · lease $21.60/SF/yr · vacancy 10.40% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey, fully furnished restaurant with full bar, dual dining rooms, outdoor dining, 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: Waterfront restaurant business only; real estate not included (see MLS #1399145 for both business and real estate); Comes fully furnished with FF&E, including fixtures, furnishings, and equipment; Full bar plus two dining rooms (one on the lower level and one on the upper level with water views)
