149 Main RdMiddletown, RI 02842

  • Land
  • 0.87 AC
For Sale
$995,000 View listing

Property Details for 149 Main Rd

Lot size
0.87 AC
Zone code
OBA
Property type
Land
Property subtype
Commercial land
APN
MIDD M:0108 B:00 L:33
APU
MIDDM0108B00L33

Description

This exceptional 0.87-acre commercial lot, located at 149 W Main Road in Middletown, Rhode Island, presents a unique redevelopment opportunity. The property boasts 131 feet of frontage along West Main Road and extends approximately 290 feet in depth. Previously occupied by a McDonald's restaurant, the site features two existing drive-thru lanes, two curb cuts, and twelve high-intensity pole lamps. The land is cleared, graded, and environmentally clean, ensuring a streamlined development process. Utilities are readily available, including a well and municipal water, municipal sewer, public gas, and three-phase public electric service. The property is zoned OBA (Office/Business - Traffic Sensitive), reflecting its prime location within Middletown's main commercial corridor, near the intersection of state routes 114 and 138. This strategic location places the property in close proximity to a variety of national retail and professional businesses, as well as significant institutions such as the Naval War College, the Community College of Rhode Island (CCRI) Newport Campus, and Newport Grand. The property is offered for sale at $950,000, and a net-net-net (NNN) land lease option is also available. This presents a compelling investment opportunity for developers seeking a high-visibility site in a thriving commercial area.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $7,171,594
    Hospitality
    $6,569,142
    Educational
    $5,465,449
    Medical
    $5,653,414
    Retail
    $8,501,810
149 Main Rd, Middletown, Rhode Island

Location Insight

City
Middletown
County
Newport
State
Rhode Island
Latitude
41.5096
Longitude
-71.3014
CBSA code
39300
CBSA name
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$7,030
$539,800
$1,800
$541,600
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-
-
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