105-111 Broadway
Retail-Commercial
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30708957 |
| Property Subtypes: |
Mixed Use, Restaurant, Other
|
| Status: |
Pending/Contingent |
| Building Size (RSF): |
10,719 SF
|
| Gross Land Area: |
17,432 SF
|
| Sale Price: |
$5,100,000 |
| Unit Price: |
$475.79 PSF |
| Property Use Type: |
Business |
| Building Name: |
Fifth Element & Foleys |
| Usable Size (USF): |
10,719 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
8/16/2021 |
Overview / Comments
|
A Unique Opportunity to Own a Block of Newport, RI with frontage on three sides at 105-111 Broadway. Located in the heart of the vibrant & local Broadway neighborhood, this block contains a successful restaurant of 17 years (The Fifth Element) and a fully permitted development opportunity for a 40 room luxury hotel. Zoning, Planning, Utility and City approvals including demo, foundation, building & utility permits have been obtained over the last 3 years and remain in place ready to convey. Preliminary design and development plans are also available. The restaurant has had continued success through constant ingenuity during the Covid crisis with their redesigned interior and newly built outside dining space, The Outer Element. This is a package deal with all the plans to date and a turnkey restaurant including liquor license, inventory, equipment, trademarks, URL’s etc
|
Additional Details
| Nearest MSA: |
Providence-Warwick |
| County: |
Newport |
| Taxing Authority: |
Newport |
| Tax ID/APN: |
NE 21 196 |
| Zoning: |
GB |
| Retail Clientele: |
General, Family, Business, Traveler, Tourist, Convention |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Broadway |
| Total Number of Buildings: |
2 |
| Number of Stories: |
1 |
| Property Condition: |
Excellent |
| Year Built: |
1947 |
| Year Renovated: |
2010 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick, Concrete |
| Total Parking Spaces: |
43 |
| Sprinklers: |
Wet |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Zoning Description: |
General Business |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Utilities |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
15,306 |
37,632 |
51,134 |
| Median Age: |
42.12 |
40.27 |
41.84 |
| Households: |
7,557 |
16,140 |
21,737 |
|
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|
