85 Ocean Avenue

Block Island, RI 02807

$2,375,000
Price
Beds
3
Baths
2,992 Sq. Ft.
$794 / Sq. Ft.
2,992
Sq. Ft.
$794
per Sq. Ft.

Description

Introducing The Gateway Commons, a remarkable commercial property ideally positioned just moments away from the dynamic town center. This meticulously maintained establishment, erected in 2017, currently thrives as a bar/restaurant and presents a myriad of business opportunities within the Block Island Service Commercial zone. Spanning two levels, the building boasts expansive dining and bar areas, two distinct kitchens, one with the potential for full-service capabilities, three bathrooms, an office...Introducing The Gateway Commons, a remarkable commercial property ideally positioned just moments away from the dynamic town center. This meticulously maintained establishment, erected in 2017, currently thrives as a bar/restaurant and presents a myriad of business opportunities within the Block Island Service Commercial zone. Spanning two levels, the building boasts expansive dining and bar areas, two distinct kitchens, one with the potential for full-service capabilities, three bathrooms, an office space, and ample storage. The second floor holds promise for further development, with the potential to convert the unfinished attic into an apartment, pending planning and zoning approvals. With nineteen parking spots and full ADA compliance, this property is poised for diverse ventures in a highly accessible locale. Whether sustaining the existing enterprise or venturing into new realms, the Gateway Crossing building offers an exceptional platform for commercial success at the core of the community. The Old Island Pub Business is not for sale.

Listing Agent

Property Details for 85 Ocean Avenue

Subdivision Name
Town & Old Harbor
Waterfront Features
Walkto Water
View
Saltwater, Water
Add your commute
LISTING UPDATED: 04/09/2024 12:32 AM

Property Details for 85 Ocean Avenue

StatusActive
MLS #1354663
Days on Market30
Taxes$4,542 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built2018
Lot Size0.69 AC / 30,054 SF
CountyWashington County
Add your commute

Building Information for 85 Ocean Avenue

Stories2Year Built2018Building Size-Lot Size0.69 AC / 30,054 SF

Payment Calculator

$13,340 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,961

Property Taxes

$379

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 85 Ocean Avenue

Summary
Location and General Information
  • City: Block Island
  • Community Features: Marina, Other, Restaurant, Shopping, See Remarks
  • Postal City: Block Island
  • Postal Code: 02807
  • State Or Province: RI
  • View Y N: Yes
  • Zoning: SC
  • Human Modified Y N: No
Parking
  • Covered Spaces: 0
  • Garage Spaces: 0
  • Garage Y N: No
  • Parking Features: No Garage
  • Parking Total: 0
Taxes and HOA Information
  • Association Fee: $.00
  • Tax Annual Amount: $4,542.45
  • Tax Assessed Value: 943300
  • Tax Lot: 3-3
  • Tax Year: 2023
Virtual Tour
Property
Lot Information
  • Below Grade Finished Area: 1496.0
  • Building Area Total: 2992.0
  • Frontage Length: 70
  • Living Area: 2,992.00
  • Living Area Source: Public Records
  • Lot Features: Sprinkler System
  • Lot Size Acres: 0.6899
  • Lot Size Area: 30054.0
  • Lot Size Square Feet: 30054.0
  • Lot Size Units: Square Feet
  • Parcel Number: 85OCEANAVNSHM
  • Stories: 2
  • Stories Total: 2
  • Property Sub Type Additional: Single Family Residence
Property and Assessments
  • Business Type: Other
  • New Construction Y N: No
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Senior Community Y N: No
  • Year Built: 2018
  • C L I P: 4,618,573,996
Utilities
  • Electric: Item200Amp Service
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Underground Utilities
  • Water Source: Connected, Public
Interior and Exterior Features
Exterior Features
  • Accessibility Features: Accessibility Features, Accessible Approachwith Ramp, Accessible Doors
  • Exterior Features: Sprinkler Irrigation
  • Foundation Details: Slab
  • Security Features: Security System Owned
Interior Features
  • Appliances: Exhaust Fan, Gas Water Heater, Microwave, Range Hood
  • Basement: None
  • Basement Y N: No
  • Bathrooms Full: 3
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 3
  • Bedrooms Total: 0
  • Cooling: None
  • Cooling Y N: No
  • Fireplace Features: None
  • Fireplaces Total: 0
  • Fireplace Y N: No
  • Flooring: Ceramic Tile
  • Heating: Forced Air, Propane
  • Heating Y N: Yes
  • Interior Features: Attic, Internal Expansion, Permanent Attic Stairs, Cable TV
  • Levels: Two
  • Rooms Total: 4
Room 1
  • Room Type 1: Dining Room
  • Room Features 1: Ceiling Fans, Recessed Lighting, Storage
  • Room Level 1: Second
Room 2
  • Room Type 2: Dining Room
  • Room Level 2: First
Room 30
  • Room List: Dining Room
Rental
Rental Information
  • Lease Amount Per Area Unit: DollarsPerSquareFoot
  • Land Lease Y N: No

Property History for 85 Ocean Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 85 Ocean Avenue

Taxable ValueLand$430,400Additions$512,800Total$943,200
Tax Record2023$5,678 ($473 / month)
Home Facts
Baths3Total Finished SqFt2,992 SqFtAbove Grade Finished SqFt2,992 SqFtStories2Lot Size30,056 SqFtStyleMiscellaneous CommercialYear Built2017ZoningSCCountyWASHINGTONAPNBLOC M:06 L:003-03

Schools near 85 Ocean Avenue

This home is within New Shoreham School District.
Rating
School
Type
Grades
Distance
Public - K to 12
Rating
School
Distance
Block Island School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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85 Ocean Avenue is a single family home for sale in Block Island, RI 02807. This property was listed for sale on March 29, 2024 by Compass, it's currently listed at $2,375,000. This listing's school district is New Shoreham School District. Nearby schools include Block Island School. 85 Ocean Avenue is a 0-bed, 3-bath, 2,992 sqft single family home built in 2018.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.