For Sale
$3,250,000

499 Main RdMiddletown, RI 02842

Prime Commercial Property, Middletown, RI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Middletown, RI property, known as The Grange, presents a unique investment opportunity. Situated on a 1.18-acre lot (51,401 sq ft) at the corner of Aquidneck Ave and East Main Road, this property boasts two buildings totaling 15,000 square feet. The main building, constructed in 1930 and featuring three stories, currently houses office and restaurant spaces. A separate 4,000 square foot steel accessory building offers versatile potential. The property's zoning (OBA) allows for significant development. Approved plans exist for 14 residential one-bedroom units within the main building, and an additional 8 residential units are pending approval for the accessory building. Further development opportunities exist, including potential for a pad site or drive-through. This property offers a blend of existing income potential and significant future development upside, making it an attractive investment in a prime location. The asking price is $3,250,000.

Property Details for 499 Main Rd

Property type
Warehouses, Retail properties
Square Feet
15,000 SF
Year Built
1930
Buildings
2
Stories
3

Location Insight

City
Middletown
County
Newport
State
Rhode Island
Latitude
41.5209505
Longitude
-71.2841265
499 Main Rd, Middletown, Rhode Island

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499 Main Rd
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