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    383 Metacom Ave Bristol, RI 02809

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    383 Metacom Ave Bristol, RI 02809

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    • Showrooms
    • 23,302 SF
    • 1.21 lot acres
    For Sale
    $3,250,000
    View Listing →
    Bristol Restaurant with Banquet Rooms For Sale
    $3,250,000
    23,000 SF

    Bristol Restaurant with Banquet Rooms

    Upscale dining restaurant with banquet rooms on 1.21 acres.

    383 Metacom Avenue, Bristol, RI 2809
    View Listing
    Property ID
    US76-0144109
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jacky's Galaxie & Sushi Bar / Restaurant

    Property Details for 383 Metacom Ave

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.21 lot acres
    Property size
    23,302 SF
    Zone code
    M
    Property type
    Showrooms
    APN
    BRIS M:47 L:28
    APU
    BRISM47L28

    Description

    This exceptional 23,000-square-foot commercial property, situated on a 1.21-acre lot in Bristol, Rhode Island, presents a unique investment opportunity. Currently operating as a high-end dining establishment with a 150-person seating capacity and multiple banquet rooms accommodating up to 470 guests, the property boasts ample parking for over 100 vehicles. Its prime location, just 2.4 miles from Roger Williams University, ensures high visibility and accessibility. The property's versatility is further enhanced by conceptual architectural renderings outlining a mixed-use development plan incorporating retail, commercial, and residential components. This presents a compelling opportunity to capitalize on the area's growth potential and adapt the space to meet evolving market demands. The asking price is $3,250,000. Note that an additional, separately owned parcel (2.66 acres including a two-family home) is available but not included in this listing. This property offers unparalleled potential for significant returns in Rhode Island's East Bay. The existing infrastructure and prime location make this an exceptional opportunity for both established businesses and visionary developers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,032,000
      Market price range: $2.46M - $6.50M
      AI Estimate
      $1,747,000
      Market price range: $1.41M - $3.81M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.2605
    Latitude
    41.6779
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $28,004
    $296,500
    $1,799,600
    $2,096,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      554 SF

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      SHOW ROOM, WAREHOUSE • 554 SF
      290 Wood St, Bristol, RI 02809-3232
      View Details
    • Value Estimation
      $2,765,000
      26,900 SF

      15 Gooding Ave

      SHOW ROOM, WAREHOUSE • 26,900 SF
      15 Gooding Ave, Bristol, RI 02809-2631
      View Details
    • Value Estimation
      $1,230,000
      8,000 SF

      625 Metacom Ave

      SHOW ROOM, WAREHOUSE • 8,000 SF
      625 Metacom Ave, Bristol, RI 02809-5131
      View Details
    • Value Estimation by Request
      2,462 SF

      590 Metacom Ave

      SHOW ROOM, WAREHOUSE • 2,462 SF
      590 Metacom Ave, Bristol, RI 02809-5146
      View Details
    • Value Estimation
      $1,620,000
      12,600 SF

      597 Metacom Ave

      SHOW ROOM, WAREHOUSE • 12,600 SF
      597 Metacom Ave, Bristol, RI 02809-5131
      View Details
    • Value Estimation
      $1,280,000
      5,825 SF

      101 Poppasquash Rd

      SHOW ROOM, WAREHOUSE • 5,825 SF
      101 Poppasquash Rd, Bristol, RI 02809-1000
      View Details

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      Bristol Restaurant with Development Potential

      Upscale restaurant with mixed-use development potential on 1.21 acres.
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      View Details
    • Contact for pricing
      23,000 SF

      Bristol Restaurant with Banquet Rooms

      Upscale dining restaurant with banquet rooms on 1.21 acres.
      383 Metacom Ave, Bristol, RI 02809
      View Details
    • $3,250,000
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      Bristol Restaurant with Banquet Rooms

      Upscale dining restaurant with banquet rooms and parking.
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    Similar Nearby for Lease

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      Retail Space Available For Rent

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      New Construction Office Space

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      View Details
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      Downtown Bristol Office Space Available

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      Modern Manufacturing Warehouse Space

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      View Details
    View Listing
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    Bristol, RI 02809
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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    383 Metacom Ave, Bristol, RI, 02809

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