209 Main StHopkinton, RI 02804

Property Details for 209 Main St

Year built

1960

Construction

FRAME

Lot size

0.60 AC

Property size (Sq ft)

3,344 SF

Zone code

CS

Property type

Other commercial real estate

Property subtype

Showrooms

APN

HOPK M:025 B:000 L:0299A

APU

HOPKM025B000L0299A

Description

This exceptional 3,300 square foot restaurant, located at 209 Main Street in Hopkinton, RI, presents a truly turnkey opportunity for a discerning buyer. Situated on a 0.6-acre lot just one mile from Route 95 and directly on highly trafficked Route 3, this property enjoys exceptional visibility and accessibility. The recent, complete renovation encompasses the entire building, from the basement to the exterior, resulting in a stunning, modern space equipped with high-end fixtures and brand-new kitchen equipment. The restaurant boasts seating for approximately 88 patrons and ample parking in the rear. A charming bar area provides a cozy gathering spot, while the existing service window on the side of the building offers significant potential for outdoor seating. The property features a recently replaced septic system and well. A brand-new Generac standby generator is also available for negotiation, ensuring uninterrupted operation. This meticulously renovated restaurant is ready for immediate operation, ideally suited for a farm-to-table concept, a coffee shop, or any hospitality venture. The owner is open to exploring lease-to-own options or owner financing with suitable credit and backing. This is a rare opportunity to acquire a beautiful, fully equipped restaurant in a prime location with high traffic volume. The asking price is $1,350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $812,709

  6.5%

  $750,193

  7%

  $696,608

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,101,056

  Geo Method

  $1,101,056

• Alternative Use

  Use

  Valuation

  Residential

  $632,816

  Hospitality

  $579,656

  Educational

  $482,267

  Medical

  $498,853

  Retail

  $750,193

Location Insight

City

Ashaway

County

Washington

State

Rhode Island

Latitude

41.4247

Longitude

-71.7853

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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