$1,250,000
$1,875,000
33.3%For more information regarding the value of a property, please contact us for a free consultation.
651 West Main RD Middletown, RI 02842
5,074 SqFt
Key Details
Sold Price $1,250,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 5,074 sqft
Price per Sqft $246
Subdivision Restaurant District
MLS Listing ID 1399970
Sold Date 05/22/26
HOA Y/N No
Abv Grd Liv Area 5,074
Year Built 1960
Annual Tax Amount $14,422
Tax Year 2025
Lot Size 0.560 Acres
Acres 0.56
Property Sub-Type Commercial
Property Description
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
State RI
County Newport
Community Restaurant District
Zoning GBA
Rooms
Basement None
Interior
Heating Forced Air, Gas
Cooling Central Air
Furnishings Furnished
Exterior
Community Features Highway Access, Near Schools, Restaurant, Shopping, High Traffic Location, Street Lights, Sidewalks
Utilities Available Natural Gas Connected, Municipal Utilities, Phone Available, Water Connected, Sewer Connected
Street Surface Asphalt,Gravel,Paved
Total Parking Spaces 40
Building
Building Description Masonry, Public Restrooms
Foundation Concrete Perimeter
Sewer Connected, Public Sewer, Sanitary
Water Connected, Multiple Meters, Public
Structure Type Masonry
New Construction No
Others
Tax ID 651659WESTMAINRDMDLT
Security Features Smoke Detector(s),Security Lights
Financing 1031 Exchange
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