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    17 Winnapaug Rd Westerly, RI 02891

    For Sale
    $1,495,000

    Iconic Beachfront Businesses, Huge Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional offering presents a rare opportunity to acquire two established, profitable businesses and a prime waterfront property in Misquamicut, Rhode Island. Located at the main entrance to Misquamicut Beach, this iconic location boasts high visibility and significant foot and vehicle traffic. The property includes a 7,405 square foot lot with a single building constructed in 1957. The "Purple Ape" retail store, operating successfully since 2004, is included in the sale, along with the established Misquamicut Beach Jet Ski Rental, operating continuously since 1996. The sale price includes all water sports equipment, encompassing six 2023 Yamaha VXC jet skis with trailers, six hydro bikes, twelve kayaks (six single and six tandem), four two-person paddle boats, ten paddle boards, approximately fifty life vests, and a 2019 Can-Am Renegade 1000R. Detailed financial records demonstrating profitability are available for both businesses. The current owner is prepared to provide training and support for a smooth transition to the new owner for the 2025 season. Further expansion potential exists through a possible long-term lease of an adjacent property and a house across the street. This turnkey operation presents a unique investment opportunity in a high-demand tourist destination, benefiting from the tens of thousands of annual visitors to Misquamicut's extensive beach. The asking price for this exceptional package is $1,495,000.

    Property Features for 17 Winnapaug Rd

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1957
    Buildings
    1
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Purple Ape Clothing Store

    Suggested Use

    Restaurant Realty agency Hair Salon Clothing Store Department Store Hotel & Motel Food Market Accounting Firm Grocery Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Westerly
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.8100879
    Latitude
    41.3234296

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    FAQs

    What type of property is this?
    Retail property - Iconic Beachfront Businesses, Huge Potential
    Where is this retail property located?
    The property is located at 17 Winnapaug Rd Westerly, RI.
    What is the asking price?
    The asking price for this property is $1,495,000.
    Request Owner's contact information
    17 Winnapaug Rd Westerly, RI 02891
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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
    17 Winnapaug Rd Westerly, RI 02891
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