651 W Main Road, Middletown, RI 02842
sale
$1,875,000
|
Other
Courtesy Of Hogan Associates | Christie's International Real Estate
Prime Commercial Opportunity - Two Adjacent High Visibility Parcels on Rt 114, Middletown, RI, Aquidneck Island's highest-traffic corridor. Parcel 1: Home to Tito's Cantina, an iconic Mexican restaurant established 38 years ago as the first Mexican restaurant on Aquidneck Island. The property features a free-standing 2124 SF building on a 12,196 SF lot. Owner occupied since 2000, therefore no rental history is available. The sale includes all licenses, including liquor and victualing licenses, conveying with the property. Parcel 2: A single-story masonry retail strip center totaling 2950 SF on a 12,197 SF lot, currently divided into 3 tenant spaces. All tenants pay separate utilities. While no formal leases are in place, the property generates approximately $45,000 in annual gross rent. Together, the parcels comprise 24,393 (0.56 acres) with 150 linear feet frontage on Rt 114. Directly across from Navy surplus land slated for redevelopment - poised to become a new commercial hub on Aquidneck Island. Financials (income and expenses) available to qualified, interested parties.
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Property Features
- Age: Over 50 Years Old
- Amenities: Security System
- Building Units: 2
- Cooling System: Central Air
- Exterior Type: Masonry
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: 1399970
- Parking Spaces: 40
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