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85 Ocean Ave 4,488 SF 100% Leased Retail Building New Shoreham, RI 02807 $4,115,545 CAD ($917.01 CAD/SF)
Investment Highlights
- Town Location
- Service Commercial Zoning
- 10 Rooms
Executive Summary
Commercial/Business - Commercial Sale - MLS # 1419835 - Active
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85 Ocean Avenue , Block Island, RI 02807
Neighborhood: Town
RE Taxes/Yr: $12,030 / 2025 List/Lease Pr: $2,950,000.00
Exempt Inc: No Original LP: $2,950,000.00
Assessment: $1,864,200 DOM: 1
Asso Fee/Per: Fire Dist Tax: $0
Year Built: 2018 Condo Y/N: N
Use Type: Mixed Use
Type: Hotel/Motel, Inn
85 Ocean Avenue represents a rare opportunity to acquire a fully renovated hospitality property offering exceptional convenience to the ferry, beaches, restaurants, and shopping. Following an extensive redevelopment and full approval process, the building was thoughtfully transformed with a third floor expansion, modern accommodations, commercial kitchen, commercial laundry, updated common areas, and beautifully appointed bath facilities. Currently utilized as employee housing, the property offers exceptional flexibility for future hospitality or lodging operations. Located within the Service Commercial zoning district, the property offers exceptional flexibility for future use and long term potential.
1 / 29
85 Ocean Avenue , Block Island, RI 02807
Neighborhood: Town
RE Taxes/Yr: $12,030 / 2025 List/Lease Pr: $2,950,000.00
Exempt Inc: No Original LP: $2,950,000.00
Assessment: $1,864,200 DOM: 1
Asso Fee/Per: Fire Dist Tax: $0
Year Built: 2018 Condo Y/N: N
Use Type: Mixed Use
Type: Hotel/Motel, Inn
85 Ocean Avenue represents a rare opportunity to acquire a fully renovated hospitality property offering exceptional convenience to the ferry, beaches, restaurants, and shopping. Following an extensive redevelopment and full approval process, the building was thoughtfully transformed with a third floor expansion, modern accommodations, commercial kitchen, commercial laundry, updated common areas, and beautifully appointed bath facilities. Currently utilized as employee housing, the property offers exceptional flexibility for future hospitality or lodging operations. Located within the Service Commercial zoning district, the property offers exceptional flexibility for future use and long term potential.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,488 SF
Building Class
B
Year Built/Renovated
2017/2025
Price
$4,115,545 CAD
Price Per SF
$917.01 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.15
Lot Size
0.69 AC
Zoning
SC - The full description is included in documents
Parking
19 Spaces (4.23 Spaces per 1,000 SF Leased)
Frontage
92’ on Ocean Avenue
Amenities
- Conferencing Facility
- Freeway Visibility
- Restaurant
- Storage Space
- Recessed Lighting
- Balcony
- Fiber Optic Internet
- Smoke Detector
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | BLOC-000006-000000-000003-000003 | Improvements Assessment | $707,595 CAD |
| Land Assessment | $600,451 CAD | Total Assessment | $1,308,046 CAD |
Property Taxes
Parcel Number
BLOC-000006-000000-000003-000003
Land Assessment
$600,451 CAD
Improvements Assessment
$707,595 CAD
Total Assessment
$1,308,046 CAD
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