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148 Atlantic Ave, Westerly, RI – $2,800,000

  • $2.8M Price
  • 4,098 Sqft
  • .73 Acres
  • 97 DOM
  • $2.8M Price
  • 4,098 Sqft
  • .73 Acres
  • 97 DOM

148 Atlantic Ave

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.

Essential Information

  • MLS® #1245950
  • Price$2,800,000
  • Bathrooms0.00
  • Square Footage4,098
  • Acres0.73
  • Year Built1955
  • TypeCommercial Sale
  • Sub-TypeRetail
  • StatusActive
  • HOA Dues0.00

Community Information

  • Address148 Atlantic Ave
  • SubdivisionMisquamicut Beach
  • CityWesterly
  • CountyWashington
  • StateRI
  • Zip Code02891

Amenities

  • AmenitiesRestaurant
  • FeaturesCorner Lot
  • Parking Spaces82
  • ViewWater

Utilities

Cable Available, Electricity Available, Natural Gas Available, Phone Available, Natural Gas Connected

Interior

  • Interior FeaturesAir Filtration
  • HeatingGas

Cooling

Attic Fan, Ductless, Wall Unit(s)

Exterior

  • ExteriorFrame
  • Lot DescriptionCorner Lot
  • ConstructionFrame
  • FoundationConcrete Perimeter

Additional Information

  • Date ListedFebruary 1st, 2020
  • Days on Market97
  • ZoningSCG

Listing Details

  • OfficeBhhs New England Properties
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Bhhs New England 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.Information is deemed reliable but is not guaranteed. © 2020 State-Wide Multiple Listing Service. All rights reserved.

Listing information last updated on May 29th, 2020 at 3:32pm EDT.