149 Main RdMiddletown, RI 02842
- Land
- 0.87 AC
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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