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    149 Main Rd Middletown, RI 02842

    Sponsored
    For Sale
    $950,000

    High-visibility site, former restaurant, ideal for redevelopment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 37,897 square foot commercial lot, located at 149 W Main Road in Middletown, Rhode Island (zip code 02842), presents a unique redevelopment opportunity. The property boasts a highly desirable location on Middletown's main commercial thoroughfare, near the intersection of state routes 114 and 138. Its strategic position ensures high visibility and accessibility, surrounded by established national retail and professional businesses. The site's proximity to the Naval War College, CCRI Newport Campus, and Newport Grand further enhances its appeal. Previously occupied by a fast-food restaurant, the land is already cleared, graded, and environmentally clean, saving significant time and expense for future development. Key features include 131 feet of frontage, approximately 290 feet of depth, two curb cuts, and twelve high-intensity pole lamps. Utilities are readily available, including a well and municipal water, municipal sewer, public gas, and three-phase public electric service. The property is zoned OBA (office/business - traffic sensitive), offering flexibility for a variety of commercial uses. The site is also available for a net-net-net (NNN) land lease. This is an exceptional opportunity to acquire a prime commercial property in a thriving Rhode Island location.

    Property Features for 149 Main Rd

    General Information

    Property type
    Restaurants

    HighLights

    • $950,000 asking price.
    • 37,897 sq ft lot, Middletown, RI.
    • High‑visibility location on W Main Road, former McDonald's with two drive‑thru lanes.
    • Cleared, graded, environmentally clean site with utilities available.
    • Zoned OBA (office/business - traffic sensitive); NNN land lease option available.
    • Excellent location near major routes, national retailers, and educational institutions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.301395
    Latitude
    41.509648

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    FAQs

    What type of property is this?
    Restaurant - High-visibility site, former restaurant, ideal for redevelopment.
    Where is this restaurant located?
    The property is located at 149 Main Rd Middletown, RI.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: $950,000 asking price.; 37,897 sq ft lot, Middletown, RI.; High-visibility location on W Main Road, former McDonald's with two drive-thru lanes.
    Request Owner's contact information
    149 Main Rd Middletown, RI 02842
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    Middletown, RI 02842
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    149 Main Rd Middletown, RI 02842
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