Three-Unit Waterfront Restaurant
382 Thames Street Bristol Bristol, RI 02809
382 Thames Street Bristol, Bristol, RI, 02809
$1,695,000
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 Size6,516 SF
Price / SF$260.13
Days on Market48
Property Features for 382 Thames Street Bristol
General Information
- Standard status
- Active
- Size
- 6,516 SF
Building Details
- Year Built
- 1900
Listing Agency
(508) 501-1443
Listed by
Debra Viveiros
(508) 501-1443
Source
Milestonerealtyinc
Added: Jun 4 Updated: Jul 10 at 1:48 pm Checked: Jul 20 at 2:12 am
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
Investment Insights
Based on property information with market context.
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.
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.
Key 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
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
NOI $115,652 @ 7.0% cap · market cap 6.82%
Second Best
Warehouse
$1.03M
$898.1K – $1.20M
NOI $71,847 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$2.18M
$1.91M – $2.54M
NOI $152,597 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pisco&tequila
Restaurant
Tong Phoon Restaurant
Restaurant
Similar For Sale Nearby
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
