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105 Broadway
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$4,500,000

105 Broadway

10,719 Sq.Ft.

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Description

A Unique Opportunity to Own a Block of Newport, RI with frontage on three sides at 105-111 Broadway. Located in the heart of the vibrant & local Broadway neighborhood, this block contains a successful restaurant of 17 years (The Fifth Element) and a fully permitted development opportunity for a 40 room luxury hotel. Zoning, Planning, Utility and City approvals including demo, foundation, building & utility permits have been obtained over the last 3 years and remain in place ready to convey. Preliminary design and development plans are also available. The restaurant has had continued success through constant ingenuity during the Covid crisis with their redesigned interior and newly built outside dining space, The Outer Element. This is a package deal with all the plans to date and a turnkey restaurant including liquor license, inventory, equipment, trademarks, URL's etc.

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Location

105 Broadway, Newport, RI 02840

Status

Sold
Lea Savas

Lea Savas

TITLE

Sales Associate and Realtor®

PHONE

(401) 580-4484

EMAIL

[email protected]

CONTACT AGENT

Newport

An affluent seaside community located on Aquidneck Island.
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Property Amenities

Area & Lot
Lot Area 0.4 Acres
Living area 10,719 Sq.Ft.
MLS® ID 1274714
Year Built 1940
Type Commercial
Status Sold
Exterior
Stories 2
Air conditioning Central Air
Heat type Central, Forced Air, Gas
Water Source Connected, Public
Sewer Connected
Lot Features Corner Lot
Utilities Natural Gas Available, Natural Gas Connected, Municipal Utilities, Water Connected, Sewer Connected, Water Available
Finance
Sales Price $4,500,000
Real Estate Tax $19,278 yearly

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Contact Details

EDGE REALTY

(401) 783-1007

[email protected]

 

HEADQUARTERS

478 Thames St.

Newport, RI 02840

1007 Boston Neck Rd.

Narragansett, RI 02882

RHODE ISLAND, CONNECTICUT & MASSACHUSETTS Real Estate