Full Service Restaurant and Entertainment
325 Farnum Pike Smithfield, RI 02917
For Sale
$2,300,000
Fully sprinklered restaurant with outdoor stage, pool, and parking for approximately 300 vehicles.
Property Size6,546 SF
Price / SF$351.36
Days on Market31
Property Features for 325 Farnum Pike
General Information
- Standard status
- Active
- Size
- 6,546 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1979
Listing Agency:
MG Commercial
(401) 465-9224
Listed By:
Dan Feiner · License #RI # RES.0029089
(401) 465-9224
Source:
Mgcommercial
Added: Jun 24
Changed: Jul 23
Last Checked: Jul 24 at 5:29AM
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 MG Commercial
Investment Insights
Based on property information with market context.
The Last Resort Restaurant & Entertainment Center operates as a full-service restaurant and entertainment destination, combining indoor dining with seasonal programming. Outdoor summer events run May through September and include league volleyball. The property also features a swimming pool and an outdoor live stage. The restaurant is described as fully sprinklered and is currently operating as an existing business with revenues approaching $1.5M. Architectural and engineered plans are available, and the site is positioned for a potential development opportunity for residential condos or apartments.
The property is located in Northern Rhode Island and is noted to be in close proximity to Bryant University. Public remarks also reference Fidelity Investments, Amica Mutual, and Navigant CU nearby.
On-site parking is described as ample, with approximately 300 spaces serving the restaurant and events.
The property is located in Northern Rhode Island and is noted to be in close proximity to Bryant University. Public remarks also reference Fidelity Investments, Amica Mutual, and Navigant CU nearby.
On-site parking is described as ample, with approximately 300 spaces serving the restaurant and events.
Key Highlights
- 6,546' full‑service restaurant operating May–September with outdoor summer events including league volleyball
- Fully sprinklered restaurant and entertainment center with outdoor live stage and swimming pool
- Ample on‑site parking for approximately 300 vehicles
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 | $117.8k | $18.00 |
| − Vacancy | −$12.1k | −$1.85 |
| EGI | $105.7k | $16.15 |
| − OpEx | −$26.4k | −$4.04 |
| NOI | $79.3k | $12.11 |
6,546 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.13M
$991.1K – $1.32M
NOI $79,286 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $108,994 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Last Resort Restaurant ...
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Fully sprinklered restaurant with outdoor stage, pool, and parking for approximately 300 vehicles.
Where is this conventional restaurant located?
The property is located at 325 Farnum Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6,546' full‑service restaurant operating May–September with outdoor summer events including league volleyball; Fully sprinklered restaurant and entertainment center with outdoor live stage and swimming pool; Ample on‑site parking for approximately 300 vehicles
