148 Atlantic Avenue, Westerly, RI 02891

$2,800,000
4,098
SqFt
List Price
$2,800,000
Price Change
▼ $100,000 1588032668
MLS#
RIS-1245950
Status
ACTIVE
County
Washington
City
Westerly
Subdivision
Misquamicut Beach
Living Area
4,098
Acres
0.73

Property Description

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.

Additional Information

Days on Market
233
Year Built
1955
Interior Features
Air Filtration
Cooling
Attic Fan, Ductless, Wall Unit(s)
Heating
Gas
Parking Spaces
82

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of BHHS New England Properties.

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