85 Ocean Ave, New Shoreham, RI 02807
2,992 SF | 100% Leased | Retail Building | New Shoreham, RI 02807 | $2,375,000 ($794/SF) | 4.10% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,375,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,992 SF
- Price / Square Foot
- $794
Listing Contacts
Wendy Crawford
Verified Profile
- Property Info
Property Overview
Introducing The Gateway Commons, a remarkable commercial property ideally positioned just moments away from the dynamic town center. This meticulously maintained establishment, erected in 2018, currently thrives as a bar/restaurant and presents a myriad of business opportunities within the Block Island Service Commercial zone. Spanning two levels, the building boasts expansive dining and bar areas, two distinct kitchens, one with the potential for full-service capabilities, three bathrooms, an office space, and ample storage. The second floor holds promise for further development, with the potential to convert the unfinished attic into an apartment, pending planning and zoning approvals. With nineteen parking spots and full ADA compliance, this property is poised for diverse ventures in a highly accessible locale. Whether sustaining the existing enterprise or venturing into new realms, the Gateway Crossing building offers an exceptional platform for commercial success at the core of the community. Present business is not for sale.
Property Details
- Class
- B
- Year Built
- 2017
- Stories
- 2
- Property Subtype
- Other Restaurants, Storefront Retail/Office, Storefront Retail/Residential
- Lot Size (sq. ft)
- 30,056 SF
Highlights
- Heavy seasonal foot traffic
- Potential for finishing attic space
- Potential for Second building
- Right in town
- Two separate leases possible
- 19 parking spots with two designated for ADA
Nearby Properties
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