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568 Park Avenue

Portsmouth, RI 02871
  • $999,995
  • STATUS: Active Under Contract
  • ON SITE: 74 Days
  • MLS #: 1316073
Under Contract
$999,995
  • 0
    BEDS
  • 0.51
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1930
County:
Area:

School Ratings & Info

Description

Incredible investment opportunity with multiple income streams under $1M! Offering 568 Park Avenue/32 Blue Bill Way including CJ's Pub, a well established Island Park tavern. Also included in the sale are a warehouse & residential cottage. Island Park is a magnet for new & interesting restaurant/bar options. Whether you maintain the existing tavern (one of the only bars in the area to be open late night) or you create your own vision, your clientele can be drawn from nearby Island Park & Common Fence Point, Roger Williams University, Aquidneck Island and Tiverton, just minutes away. CJ's Pub business income draws from a full bar with light food options & games such as Keno & lottery with potential for expanding the food menu & outside seating. The traditional tavern has a pool table area, seating for 62 & a large courtyard for outside seating. Additional seating on the upstairs deck with water views. Included in the sale are all restaurant & bar equipment, walk-in coolers, furniture & fixtures & good will. In addition to street parking, CJ's has 10 onsite parking spaces. The warehouse can be utilized as storage or rental income. The residential cottage is currently set up as a one-bedroom rental, but a new DEM-approved 4-bedroom septic has been installed to allow for expansion of the residence. With the possibility of second floor water views of Blue Bill Cove & a large lot, expansion & renovation of the residence could be spectacular. Incredible opportunity awaits!

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© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Forever Homes Real Estate, LLC are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Forever Homes Real Estate, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-10-03T23:37:33.107.
www.foreverhomesrealestate.net/homes/131121464
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568 Park Avenue Portsmouth, RI 02871

  • Price: $999,995
  • Status: Active Under Contract
  • On Site: 74 Days
  • MLS #: 1316073
0
Beds
0
Baths
0
½ Baths
0.51
Acres
1930
Built
Neighborhood:
Island Park
County:
Newport
Area:
Portsmouth
Property Description
Incredible investment opportunity with multiple income streams under $1M! Offering 568 Park Avenue/32 Blue Bill Way including CJ's Pub, a well established Island Park tavern. Also included in the sale are a warehouse & residential cottage. Island Park is a magnet for new & interesting restaurant/bar options. Whether you maintain the existing tavern (one of the only bars in the area to be open late night) or you create your own vision, your clientele can be drawn from nearby Island Park & Common Fence Point, Roger Williams University, Aquidneck Island and Tiverton, just minutes away. CJ's Pub business income draws from a full bar with light food options & games such as Keno & lottery with potential for expanding the food menu & outside seating. The traditional tavern has a pool table area, seating for 62 & a large courtyard for outside seating. Additional seating on the upstairs deck with water views. Included in the sale are all restaurant & bar equipment, walk-in coolers, furniture & fixtures & good will. In addition to street parking, CJ's has 10 onsite parking spaces. The warehouse can be utilized as storage or rental income. The residential cottage is currently set up as a one-bedroom rental, but a new DEM-approved 4-bedroom septic has been installed to allow for expansion of the residence. With the possibility of second floor water views of Blue Bill Cove & a large lot, expansion & renovation of the residence could be spectacular. Incredible opportunity awaits!
Exterior Features

Construction Materials Frame Fencing Fenced Foundation Details Slab Parking Total 10

Interior Features

Cooling 1 Unit Furnished Furnished Heating Forced Air

Property Features

Business Type Bar/Tavern/LoungeFood & Beverage Community Features GolfHighway AccessMarinaNear HospitalNear SchoolsPublic TransportationRecreation AreaShoppingTennis Court(S)High Traffic LocationSidewalks Electric 200+ Amp Service Land Lease YN No Possible Use CommercialMixed UseSee RemarksWarehouseResidential Property Sub Type Commercial Road Surface Type AsphaltPaved Security Features Security SystemCarbon Monoxide Detector(S)Smoke Detector(S)See Remarks Sewer Septic Tank Tax Annual Amount 4825 Tax Assessed Value 316100 Tax Lot 58 Tax Year 2022 Utilities Natural Gas ConnectedMunicipal UtilitiesWater Connected Water Source ConnectedPublic

Listing information © 2022 State-Wide Multiple Listing Service.
Listing provided courtesy of Homes By Connect: 401-323-3546.





© 2022 State-Wide Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from the Internet Data Exchange (IDX) program of the State-Wide MLS. Real estate listings held by brokerage firms other than Forever Homes Real Estate, LLC are marked with the MLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Forever Homes Real Estate, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-10-03T23:37:33.107.
 
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