Prime Commercial Opportunity - Two Adjacent High Visibility Parcels on Rt 114, Middletown, RI, Aquidneck Island's highest-traffic corridor. Parcel 1: Home to Tito's Cantina, an iconic Mexican restaurant established 38 years ago as the first Mexican restaurant on Aquidneck Island. The property features a free-standing 2124 SF building on a 12,196 SF lot. Owner occupied since 2000, therefore no rental history is available. The sale includes all licenses, including liquor and victualing licenses, conveying with the property. Parcel 2: A single-story masonry retail strip center totaling 2950 SF on a 12,197 SF lot, currently divided into 3 tenant spaces. All tenants pay separate utilities. While no formal leases are in place, the property generates approximately $45,000 in annual gross rent. Together, the parcels comprise 24,393 (0.56 acres) with 150 linear feet frontage on Rt 114. Directly across from Navy surplus land slated for redevelopment - poised to become a new commercial hub on Aquidneck Island. Financials (income and expenses) available to qualified, interested parties.
| Location | |
|---|---|
| City/Town | Middletown |
| County | Newport |
| Community Features | Highway Access, Public School, Restaurants, Shopping |
| Interior | |
|---|---|
| Living Area | 5,074 sq. ft. |
| Heating | Forced Air, Gas Connected |
| Cooling | Central Air |
| Furnished | Furnished |
| Additional Information | |
|---|---|
| Tax Assessment | $1,061,600 |
| Zoning | GBA |
| Exterior | |
|---|---|
| Acreage | 0.56 |
Information is deemed reliable but is not guaranteed.
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