499 E Main Rd
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499 E Main Rd
15,000 SF 100% Leased Retail Building Middletown, RI 02842 $4,565,210 CAD ($304 CAD/SF)
Investment Highlights
- Additional Development Opportunities
- Approved for 14 residential units
- Central Location
- Awaiting approvals for 8 additional units to make a total of 22
Executive Summary
The Middletown Grange is 1.18 acres of prime commercial property centrally located on the corner of Aquidneck Ave and East Main Road.
Currently set up with offices and a restaurant in one building and another 4000 square foot steel accessory building that could have many potential mixed uses. Approvals have been granted for 14 residential one bedroom units in the primary building and the new building is awaiting approvals for an additional 8 residential units of various sizes. Additionally, the property allows for further development. Ample space for a pad site or a drive-through! Take advantage of the changes to the zoning codes and fully maximize this locations potential!
Currently set up with offices and a restaurant in one building and another 4000 square foot steel accessory building that could have many potential mixed uses. Approvals have been granted for 14 residential one bedroom units in the primary building and the new building is awaiting approvals for an additional 8 residential units of various sizes. Additionally, the property allows for further development. Ample space for a pad site or a drive-through! Take advantage of the changes to the zoning codes and fully maximize this locations potential!
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
15,000 SF
Building Class
C
Year Built/Renovated
1930/2020
Price
$4,565,210 CAD
Price Per SF
$304 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.29
Land Acres
1.18 AC
Zoning
OBA - Restaurant Building
Parking
40 Spaces (2.67 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | MIDD-000113-000000-000027 | Improvements Assessment | $2,111,199 CAD |
| Land Assessment | $977,845 CAD | Total Assessment | $3,089,044 CAD |
PROPERTY TAXES
Parcel Number
MIDD-000113-000000-000027
Land Assessment
$977,845 CAD
Improvements Assessment
$2,111,199 CAD
Total Assessment
$3,089,044 CAD
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499 E Main Rd
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