85 Ocean Avenue, Block Island, RI 02807
- $2,950,000
- 10
- BD
- 11
- BA
- 4,488
- SqFt
- List Price
- $2,950,000
- Status
- ACTIVE
- MLS#
- 1422479
- Year Built
- 2018
- Levels
- Three Or More
- Style
- Historic/Antique
- Bedrooms
- 10
- Bathrooms
- 11
- Acres
- 0.69
- Living Area
- 4,488
- Subdivision
- New Harbor - Town
Property Description
85 Ocean Avenue presents a rare opportunity to acquire a newly renovated 10-room hospitality property on Block Island. Ideally positioned with convenient access to Old Harbor, beaches, shops, restaurants and all the Island has to offer, the property combines an established hospitality layout with significant income and future development potential. The flexible three-level configuration includes six spacious guest rooms on the first and second levels with shared bath facilities, a second-level kitchen and first-level laundry. The third level features four premium accommodations, including three queen guest rooms and one larger suite. The property has been thoughtfully renovated while maintaining a versatile layout well suited for an inn, hostel-style accommodations or other hospitality concepts. Illustrative nightly room rates support potential gross room revenue of approximately $5,000 per fully occupied night, providing an exciting opportunity for an investor or hospitality operator. In addition to the existing improvements, the property offers the potential for approximately 4,500 square feet of additional development, creating further possibilities for expansion and increased revenue. A distinctive commercial hospitality offering in one of Block Island's most desirable destinations. Projected income analysis and architectural plans are available upon request.
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Additional Information
- Taxes
- $12,030
- Lot Size
- 30,056
- Interior Features
- Interior Steps, Tub Shower
- Flooring
- Ceramic Tile, Hardwood, Laminate
- Heating
- Forced Air, Gas
- Cooling System Type
- Ductless, Wall Unit(s)
- Sewer
- Connected, Public Sewer
- Water Source
- Connected, Public
- Appliances
- Exhaust Fan, Gas Water Heater, Oven, Range, Refrigerator, Range Hood, Washer
- Basement
- None
- Parking Spaces
- 12
Mortgage Calculator
Listing courtesy of Lila Delman Compass. Contact: 401-741-1825
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