85 Ocean Ave Ocean Ave New Shoreham, RI 02807
- Retail properties
Current Use by Public Records
- Isalis / Jewelry Store / Gift Shop
- Party City / Balloon Store / Candy Store
- Skunk Funk / Wholesaler / Clothing Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 85 Ocean Ave Ocean Ave
- Year built
- 2018
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional two-story commercial property, built in 2018, is situated on a 30,056 square foot lot at 85 Ocean Avenue in New Shoreham, Rhode Island, zip code 02807. The building, currently operating as a bar and restaurant, offers a multitude of business opportunities within the Block Island Service Commercial zone. The property features expansive dining and bar areas, two kitchens (one with full-service potential), three bathrooms, an office, and ample storage. The second floor, currently unfinished attic space, presents potential for future development, such as an apartment, subject to necessary planning and zoning approvals. Nineteen parking spaces are available, ensuring convenient access for patrons and employees. The property is fully ADA compliant. The asking price is $2,100,000, with a 4.00% cap rate. This location offers high visibility and accessibility, making it an ideal investment for a variety of commercial ventures. The existing business, Old Island Pub, is not included in the sale. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a thriving Rhode Island community.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Shoreham
- County
- Washington
- State
- Rhode Island
- Longitude
- -71.5733
- Latitude
- 41.1799
