10 Howard Wharf

Retail-Commercial for Sale
Catylist Listing ID: 30396809
Property Subtypes: Restaurant
Building Size (RSF): 8,033 SF
Gross Building Area: See Agent
Sale Price: $5,950,000
Unit Price: $740.69 PSF
Property Use Type: Investment, Business
Building Name: The Pier Resturant
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 3/22/2019

Overview / Comments

The property consists of two non-contiguous lots, Map 32 Lot 48-7 and Map 32 Map Lot 252, the restaurant resides on one lot and the other lot is used as parking for the restaurant. Water and Sewer is on site.The property is located south of Lee's Wharf and north of Spring Wharf. Howard Wharf branches off Thames St and travels west to the Newport Harbor. The restaurant site is located on the southerly side of Howard Wharf and abuts Newport Harbor. The parking lot, rectangular in shape, has 116 feet of frontage and is located approx. 75 ft northeast of the restaurant and contains .18 acres or 7941 sq ft of land. The restaurant site is irregular in shape and contains 0.24+ acres with 248 feet of street frontage. This waterfront property is surrounded by multi tenant office buildings to the south, an industrial building to the south and high end residential condos and apartments to the north. Thames St is a heavy trafficked area. The total restaurant seating capacity including indoor and two outdoor seasonal patios is 556. The main entrance is accessed at the front of the building directly off of Howard Wharf. The restaurant consists of two public rest rooms, two indoor dining areas, banquet and dining rooms both having breathtaking views of the Newport Harbor.

Additional Details

Nearest MSA: Providence-Warwick
County: Newport
Tax ID/APN: Map 32 Lot 48-7 and Map 32 Lot 252
Zoning: WB / WATERFRONT BUSINESS
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Lee's Wharf and Spring Wharf
Property Visibility: Excellent
Number of Stories: 1
Property Condition: Average
Year Built: 1963
Parking Type: Surface
Heat Type: Natural Gas
Air Conditioning: Engineered System
Internet Access: Cable
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Restaurant: Map 32, Lot 48-7 and Parking Lot: Map 32 Lot 252 Zoned WB

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,886 37,187 48,224
Median Age: 39.75 40.46 41.85
Households: 4,351 16,069 20,696

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