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0 W Main Rd - Old Farm Commons

71.19 Acres of Commercial Land Offered at $25,000,000 in Middletown, RI 02842

Investment Highlights

  • 70+ acres ready for site development
  • Superior water views
  • Situated on Route 114 with Heavy Traffic

Executive Summary

Cash to Seller, Purchase Money Mortgage, Owner Financing, Build-to-Suit, Sale/Leaseback, Other
Agricultural, Hospitality, Industrial, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Vacation/Resort, Other
Will subdivide a minimum 1 acre frontage or split.

Property Facts

Price $25,000,000
Sale Type Investment
Sale Conditions Lease Option
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Retail
  • Office
  • Mixed Use
  • Carwash
  • Community Center
  • Convenience Store
  • Drugstore
  • Fast Food
  • Neighborhood Center
  • Service Station
  • Strip Center
  • Supermarket
Total Lot Size 71.19 AC

1 Lot Available

Lot

Price $25,000,000
Price Per AC $351,173
Lot Size 71.19 AC

Over 70 acres ready for site development. Situated on Route 114 (West Main Road), directly enroute to downtown Newport, waterfront and historic mansions. All frontage can be leased. Please contact broker for more details.

Description

Over 70 acres ready for site development. Situated on Route 114 (West Main Road), directly enroute to downtown Newport, waterfront and historic mansions. There is a traffic light and planned turnoff lane into Old Farm Commons. In addition to having wonderful water views of Narragansett Bay and Wanumetonomy Golf Course, in the immediate vicinity there are apartments, offices, VA, and defense contractors. Also in close proximity are US Naval Base Newport and Access Road, Courtyard by Marriott, Stop & Shop, GNC, Barnes & Noble, Michaels, McDonalds, Cardi’s Furniture, BMW of Newport, Travelodge by Wyndham, Aldi, Staples, Home Depot and Newport State Airport. There will be a walking path leading from the Commons to the abutting buildings. Also, existing agricultural acreage with walking paths (west of the Golf Course) will be maintained. This location would bring in not only intentional customers from the Island locale and other areas of Newport County, but walk-in traffic as well. Various future development conceptual plans are available upon request.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
MIDD-000106-000000-000055
Land Assessment
$1,031,400
Improvements Assessment
$129,100
Total Assessment
$1,160,500

zoning

Zoning Code GB (General Business)
GB (General Business)
  • Listing ID: 16643384

  • Date on Market: 7/17/2019

  • Last Updated:

  • Address: 0 W Main Rd, Middletown, RI 02842

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