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Property summary
This exceptional Charlestown, RI commercial property presents a unique investment opportunity. The 5,750 square foot property includes a historic 1940s motel featuring 21 guest rooms, each with a private bathroom, heating/air conditioning, TV, microwave, and refrigerator. Several rooms boast balconies and kitchenettes. A separate, charming stone building offers a 2-bedroom, 2-bathroom owner's suite with a fireplace and original stonework. The main building houses a restaurant with seating for 100 (including an outdoor deck) and a full kitchen. Additional space includes office/retail areas and a spacious basement ideal for storage or expansion. A detached pub with seating for 45 is also included. Situated on a 4.44-acre corner lot zoned C-3, this property enjoys a prime location on scenic Route 1A, boasting over 18,000 average daily vehicle counts. Its proximity to popular attractions like Weekapaug, Misquamicut, Watch Hill, Charlestown Beach, and Ninigret National Wildlife Refuge ensures high visibility and potential for significant revenue. The property's location offers easy access to Newport, Providence, Foxwoods, and Mohegan Sun. This turnkey operation is ready for a new owner to bring their vision and create a premier destination in Charlestown. The property's blend of historic charm and modern amenities makes it an ideal investment for a variety of uses.
Property profile
VerifiedCap rate & NOI
Current use
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Hotel & Motel
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Commercial 3: C-3. This district is intended only for areas abutting the highway known as "US Route 1." These areas are intended to be primarily vehicle oriented because of their location on a major highway. The intent o…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
C3 · Charlestown, RICommercial 3: C-3. This district is intended only for areas abutting the highway known as "US Route 1." These areas are intended to be primarily vehicle oriented because of their location on a major highway. The intent o…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
Commercial 3: C-3. This district is intended only for areas abutting the highway known as "US Route 1." These areas are intended to be primarily vehicle oriented because of their location on a major highway. The intent o…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C3 in Charlestown, RI.
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