85 Ocean Avenue, Block Island, Commercial

$ 2,100,000
85 Ocean Avenue, ,
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Overview

  • Updated On:
  • September 24, 2024

Description

Introducing The Gateway Commons, a remarkable commercial property ideally positioned just moments away from the dynamic town center. This meticulously maintained establishment, erected in 2017-2018, 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. The Old Island Pub Business is not for sale.

Address: 85 Ocean Avenue
State/County:
Zip: 02807
Country: US
Open In Google Maps
Property Id : 222786
Price: $ 2,100,000
Property Lot Size: 1 ft2
Association Fee: 0
Basement: None
Bridge Modification Timestamp: 2024-09-24T06:45:10.221Z
Building Area Total: 0
Building Features: Restrooms,Sprinklers
Building Name: The Gateway Crossing
Business Type: Bar/Tavern/Lounge,Beauty Service,Books/Cards/Stationary,Candy/Cookie,Clothing,Commercial,Community Center,Dance Studio,Deli/Catering
Cap Rate: 4
Community Features: Marina,Restaurants,Shopping,Near Swimming,Restaurant
Construction Materials: Frame
Contract Status Change Date: 2024-03-29
Cooling: Partial
Door Features: Loading Door
Electric: 200 Amps
Electric Expense: 16969.14
Foundation Area: 1496
Foundation Details: Slab
Frontage Length: 70
Fuel Expense: 9942.53
Furnished: Unfurnished
Gas: Available
Heating: Forced Air
Insurance Expense: 18309.29
List Agent Direct Phone: 401-714-1999
List Agent Email: wendy.crawford@liladelman.com
List Agent Full Name: Wendy Crawford
Listing Contract Date: 2024-03-29
Listing Id: 1355094
Living Area Units: Square Feet
Lot Features: Local Historic District,Downtown,Historic
Lot Size Area: 30056
Lot Size Square Feet: 30056
Lot Size Units: Square Feet
Mls Status: Active
Modification Timestamp: 2024-09-24T04:22:12.343Z
Number Of Buildings: 1
Number of Units in Community: 0
Number of Units Total: 0
Occupant Type: Owner
Original Entry Timestamp: 2024-03-29T15:33:08.867Z
Original List Price: 2375000
Owner Pays: All Expenses
Ownership Type: Sole Proprietor
Parking Total: 18
Possible Use: Commercial,Recreational,Residential,Retail,Business
Road Frontage Type: High Traffic,Municipal
Road Surface Type: Dirt
Seating Capacity: 90
Security Features: Closed Circuit Camera(s),Fire Alarm,Fire Sprinkler System
Sewer: Connected
State or Province: RI
Status Change Timestamp: 2024-03-29T15:33:08.867Z
Stories Total: 2
Street Name: Ocean
Street Number: 85
Street Suffix: Avenue
Tax Annual Amount: 4542.45
Tax Year: 2023
Utilities: Cable Connected,Electricity Connected,Gas,Municipal Water,Sanitary Sewers
View: Water
Water Source: Municipal
Year Built: 2018
Year Established: 2018
Years Current Owner: 6
Zoning: SC
Other Features
Ceiling Height: 9-12 Ft
Electrical Utility Available
Has Cooling System
Has Heating System
$ 8,142.12
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 8,142.12

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Alyse Antone Smyth, Esq.