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229 Main St
1,884 SF of Retail Space Available in Ashaway, RI 02804
Sublease Highlights
- 15 years in 3 5 year increments being marketed for $375,000
- Restaurant generated $840,000 in sales in 2022
- Mature Pizza business with solid history that offers significant upside
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Ceiling
- Term
- Rental Rate
- Rent Type
| Space | Size | Ceiling | Term | Rental Rate | Rent Type | |
| 1st Floor | 1,884 SF | 9’ - 11’ | Jun 2035 | $18.00 /SF/YR $1.50 /SF/MO $193.75 /m²/YR $16.15 /m²/MO $2,826 /MO $33,912 /YR | TBD |
1st Floor
- Sublease space available from current tenant
- Fully Built-Out as a Restaurant or Café Space
- Highly Desirable End Cap Space
- Space is in Excellent Condition
- Central Heating System
- Kitchen
- Finished Ceilings: 9’ - 11’
- Common Parts WC Facilities
- Smoke Detector
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 229 Main St , Ashaway, RI 02804
| Property Type | Retail | Gross Leasable Area | 13,171 SF |
| Property Subtype | Freestanding | Year Built | 1980 |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 13,171 SF |
| Year Built | 1980 |
About the Property
Mature, solid year-round pizza business in Ashaway already delivering good results but also with some significant upside to the new operator. Good location and product has created a loyal clientele over its 19 year history with the current operator. Ready to expand operations to include delivery service and upside opportunities also exist in expanding hours of operation. Sale includes beverage license and all equipment listed in attachment.
-
Andrew Snook -
CTRE dba BHHS NE Westchester Properties
Presented by
229 Main St
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