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    148 Atlantic Avenue

    Westerly, RI 02891
    • $2,800,000
    • STATUS: Active
    • ON SITE: 240 days
    • MLS #: 1245950
    UPDATED: 23 min ago
    $2,800,000
    • 0
      BEDS
    • 0.73
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,098
      SQFT
    • $683
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1955
    County:
    Area:

    School Ratings & Info

    Description

    Prime commercial property and well established turnkey business. Unlimited potential with this restaurant, bar, parking facility at the busiest intersection in Misquamicut Beach. Turnkey business included in sale price. P&L available upon request. Prime location on Winnapaug Pond with direct pond access and across the street from the beach, this location has been a profitable business for decades. Once known as The Island House, and for the last 20 years as Sandy's Lighthouse, it has indoor and outdoor bars, two patios, indoor and outdoor stage, ample indoor and outdoor seating, over 80 parking spaces, full kitchen, full basement and potential to reopen the rooftop dining area. Great opportunity with ability to expand. This could be a full service restaurant, a tavern or any other idea that you can think of. Parking revenue is a big plus with this property. Beach parking at this site is regularly sold out each weekend of the summer at premium prices. Misquamicut is home to the largest and highest revenue generating state beach in the entire state of Rhode Island. Westerly Hotel revenue is the highest in South County RI. Hundreds of beach cottages and hotel rooms all in walking distance to this establishment. Many shoulder season events including festivals take place within walking distance to this property. The location and business together make this a perfect and sensible purchase.

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    © 2020 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than The Martone Group | RE/MAX Properties are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or The Martone Group | RE/MAX Properties. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2020-09-28T23:37:35.003.
    www.martonegroup.com/homes/102841672
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    148 Atlantic Avenue Westerly, RI 02891

    • Price: $2,800,000
    • Status: Active
    • Updated: 23 min ago
    • MLS #: 1245950
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.73
    Acres
    4,098
    SQFT
    $683
    $/SQFT
    1955
    Built
    Neighborhood:
    Misquamicut Beach
    County:
    Washington
    Area:
    Westerly
    Property Description
    Prime commercial property and well established turnkey business. Unlimited potential with this restaurant, bar, parking facility at the busiest intersection in Misquamicut Beach. Turnkey business included in sale price. P&L available upon request. Prime location on Winnapaug Pond with direct pond access and across the street from the beach, this location has been a profitable business for decades. Once known as The Island House, and for the last 20 years as Sandy's Lighthouse, it has indoor and outdoor bars, two patios, indoor and outdoor stage, ample indoor and outdoor seating, over 80 parking spaces, full kitchen, full basement and potential to reopen the rooftop dining area. Great opportunity with ability to expand. This could be a full service restaurant, a tavern or any other idea that you can think of. Parking revenue is a big plus with this property. Beach parking at this site is regularly sold out each weekend of the summer at premium prices. Misquamicut is home to the largest and highest revenue generating state beach in the entire state of Rhode Island. Westerly Hotel revenue is the highest in South County RI. Hundreds of beach cottages and hotel rooms all in walking distance to this establishment. Many shoulder season events including festivals take place within walking distance to this property. The location and business together make this a perfect and sensible purchase.
    Exterior Features

    Construction Materials Frame Foundation Details Concrete Perimeter Lot Features Corner Lot Parking Total 82 View Water View YN Yes

    Interior Features

    Basement Full Basement YN Yes Cooling Attic FanDuctlessWall Unit(S) Heating Gas Interior Features Air Filtration

    Property Features

    Association Amenities Restaurant Business Type Food & BeverageMixed Community Features GolfHighway AccessNear HospitalNear SchoolsRecreation AreaRestaurantShoppingTennis Court(S)WaterfrontHigh Traffic LocationStreet LightsSidewalks Current Use Commercial Electric 200+ Amp ServiceCircuit Breakers Inclusions Restaurant Equipment Negotiable. Land Lease YN No Operating Expense 0 Possible Use CommercialDevelopmentMixed UseRetail Property Sub Type Retail Road Frontage Type City Street Road Surface Type AsphaltPaved Security Features PrewiredSecurity SystemClosed Circuit Camera(S)Carbon Monoxide Detector(S)Fire Alarm24 Hour SecuritySmoke Detector(S)Building SecurityFire Sprinkler SystemSecurity Lights Sewer Septic Tank Tax Annual Amount 8680 Tax Assessed Value 775100 Tax Lot 276 Tax Year 2019 Utilities Cable AvailableElectricity AvailableNatural Gas AvailableNatural Gas ConnectedPhone Available Water Source Public Zoning Scg

    Listing information © 2020 State-Wide Multiple Listing Service.
    Listing provided courtesy of Bhhs New England Properties.





    © 2020 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than The Martone Group | RE/MAX Properties are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or The Martone Group | RE/MAX Properties. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2020-09-28T23:37:35.003.
     
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    696 Douglas Pike
    Smithfield RI, 02917