Water Views
Address
85 Ocean Avenue, Block Island, RI
Price
$ 2,375,000
Property Attributes
- MLS#1355094
- TypeSingle Family
- CountyWASHINGTON
- CityBlock Island
- NeighborhoodOld Harbor
- Zip02807
- StyleBusiness
- Year Built2018
- Taxes$ 4542
- Price$ 2,375,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.66 Acres
Data Source:
Rhode Island Statewide MLS (RIAR)
Property 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.
| Price History | |
|---|---|
| 3/29/2024 | Listed $2,375,000 |
General Features
| Sewer | Connected,Sanitary |
|---|---|
| Heating | ForcedAir |
| Cooling | Partial |
| Utilities | CableAvailable,ElectricityAvailable,NaturalGasAvailable,MunicipalUtilities,WaterConnected,SewerConnected |
| Possession | Negotiable |
| Zoning | SC |
| HOA | 0.0 |
| Security Features | ClosedCircuitCameras,FireAlarm,FireSprinklerSystem |
| Construction Materials | Frame |
| Year Built | 2018 |
| Electric | Item200AmpService |
| View | Water |
| Stories | 2 |
| Levels | Two |
| Property SubType | Business |
| Tax Year | 2023 |
| OwnerPays | AllUtilities |
| Business Type | BarberBeauty,BarTavernLounge,Clothing,DeliCatering |
| Community Features | Marina,Restaurant,Shopping,HighTrafficLocation |
| Building Name | The Gateway Crossing |
| County | Washington |
| Insurance Expense | 18309.29 |
| New Construction | No |
| Property Type | BusinessOpportunity |
| Association Amenities | Restaurant |
| HOA / Comm Assn | No |
| Attached Garage | No |
| Subdivision Name | Old Harbor |
| Possible Use | Commercial,Residential,Recreational,Retail |
| Garage Y/N | No |
| Building Features | PublicRestrooms |
| Status | Active |
| City | Block Island |
| Buyer Agent Compensation | 2% |
| View Y/N | Yes |
| Senior Community Y/N | No |
| Lot Size Square Feet | 30056.0 |
| Waterfront Y/N | No |
| Carport Y/N | No |
| Number of Units Leased | 1 |
| Street Name | Ocean |
| Property Attached Y/N | Yes |
| Land Lease Y/N | No |
| Tax Annual Amount | 4542.45 |
| Electric Expense | 16969.14 |
| Home Warranty Y/N | No |
| Fuel Expense | 9942.53 |
| Water Sewer Expense | 10926.03 |
| Lease Renewal Y/N | No |
| Additional Parcels Y/N | No |
| Lease Considered Y/N | No |
| Rent Control Y/N | No |
| Virtual Tour | https://tour.RiLiving.com/85-Ocean-AV-Block-Island-RI-02807--1355094 |
| Days on Market | 10 |
| Standard Status | Active |
| Occupancy Description | Owner |
| Tax Assessed Value | 973200 |
| Tax Lot | 3-3 |
| Ownership Type | SoleProprietor |
| Property Sub Type Additional | Business |
| Cap Rate | 4.0 |
| MobileHomeRemainsYN | No |
Interior Features
| Basement | None |
|---|---|
| Furnished Y/N | Unfurnished |
| Total Stories | 2 |
| Basement (Y/N) | No |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Above Grade Finished Area | 0.0 |
| Street Suffix | Avenue |
| Electric On Property Y/N | No |
| SeatingCapacity | 90 |
Exterior Features
| Lot Features | Wetlands |
|---|---|
| Water Source | Public |
| Total Parking | 18.0 |
| Lot Size Area | 30056.0 |
| Foundation Details | Slab |
| Number of Buildings | 1 |
| Spa | No |
| Building Area Total | 0.0 |
| Lot Size Acres | 0.66 |
| Road Surface Type | Dirt |
| Frontage Length | 70 |
| Lot Size Units | SquareFeet |
| Road Frontage Type | CityStreet |
| Crops Included Y/N | No |
| Open Parking Y/N | No |
| Horse Y/N | No |
| Irrigation Water Rights Y/N | No |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 02807
Price
Taxes
Visits
Year Built
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