382 Thames StBristol, RI 02809

Property Details for 382 Thames St

Year built

2014

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.33 AC

Property size (Sq ft)

3,996 SF

Zone code

W

Property type

Other commercial real estate

Property subtype

Showrooms

APN

BRIS M:9 L:15

APU

BRISM9L15

Description

This exceptional business opportunity presents a fully equipped and operational restaurant in Bristol, RI's vibrant downtown waterfront district. Located at 382 Thames Street, Unit North, this 1,000 square foot establishment sits on a 0.33-acre lot and benefits from a brand new five-year lease. The restaurant is in excellent condition, boasting clean and well-maintained equipment, ready for immediate operation. The business model offers both dine-in and carry-out options, catering to a diverse clientele. A significant advantage is the property's location directly across from over eighty high-end condominiums, ensuring a consistent stream of potential customers. Bristol's thriving community, home to Roger Williams University and attracting thousands of tourists annually, provides a robust market. The city's renowned Fourth of July parade, the largest and oldest in the nation, further enhances the area's appeal and foot traffic. This turnkey operation presents a unique chance to own and manage a successful, established restaurant in a prime location, offering the potential for significant returns. Off-street parking is available for added convenience. The asking price for this exceptional opportunity is $125,000.

• CAP approach

  CAP return

  Valuation

  6%

  $971,168

  6.5%

  $896,462

  7%

  $832,429

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,315,736

  Geo Method

  $1,315,736

• Alternative Use

  Use

  Valuation

  Residential

  $756,200

  Hospitality

  $692,675

  Educational

  $576,297

  Medical

  $596,117

  Retail

  $896,462

Location Insight

City

Bristol

County

Bristol

State

Rhode Island

Latitude

41.6723

Longitude

-71.2784

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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