Historic Tavern with Apartment
91 Duke East Greenwich, RI 02818
91 Duke, East Greenwich, RI, 02818
$1,750,000
For Sale
$1,750,000
East Greenwich investment property featuring a tavern and apartments.
Property Size5,557 SF
Price / SF$314.92
Days on Market51
Property Features for 91 Duke
General Information
- Standard status
- Active
- Size
- 5,557 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1890
Listing Agency
BHHS COMMONWEALTH REAL ESTATE
(401) 886-6100
Listed by
ALLEN GAMMONS
Source
Corcoran
Added: May 27 Checked: Jul 16 at 1:56 pm
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 BHHS COMMONWEALTH REAL ESTATE
Investment Insights
Based on property information with market context.
This investment property features two buildings, including a tavern that has been part of East Greenwich since 1896. The offering includes the business, fixtures, and five fully rented apartments. Located on the corner of Duke and Queen streets in the Historic Hill and Harbor district, the property also includes a rentable detached two-car garage. The property size is 5557 square feet. Possible redevelopment or larger scale hospitality opportunity.
Key Highlights
- Historic Tavern Business: Includes The Oaks Tavern, a well‑established business operating since 1896.
- Prime Location: Situated in the highly desirable Historic Hill and Harbor district of East Greenwich.
- Income‑Generating Apartments: Features five fully rented apartments across two buildings.
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 | $133.4k | $24.00 |
| − Vacancy | −$3.5k | −$0.62 |
| EGI | $129.9k | $23.38 |
| − OpEx | −$32.5k | −$5.84 |
| NOI | $97.4k | $17.53 |
5,557 SF · lease $24.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.39M
$1.22M – $1.62M
NOI $97,425 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$1.06M
$927.2K – $1.24M
NOI $74,175 @ 7.0% cap · market cap 4.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar For Sale Nearby
Similar Off Market Nearby
- The Oaks Tavern — 103 Duke St, East Greenwich, RI 02818
- The Oaks — 103 Duke St, East Greenwich, RI 02818
- LowKey — 205 Main St, East Greenwich, RI 02818
- Besos Tapas & Wine Bar — 378 Main St, East Greenwich, RI 02818
- Raise the Bar Nutrition — 333 Main St, East Greenwich, RI 02818
FAQs
What type of property is this?
Bar & Pub - East Greenwich investment property featuring a tavern and apartments.
Where is this bar & pub located?
The property is located at 91 Duke East Greenwich, RI.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Historic Tavern Business: Includes The Oaks Tavern, a well‑established business operating since 1896.; Prime Location: Situated in the highly desirable Historic Hill and Harbor district of East Greenwich.; Income‑Generating Apartments: Features five fully rented apartments across two buildings.
