28-34 Water St, East Providence, RI 02914 28 Water St

28 Water St , East Providence, Rhode Island, 02914 | 17,347 sq.f | $ 3,250,000

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About This Restaurant

Investment Highlights

Executive Summary

NOTICE: Opportunity Zone! Al's WATERFRONT Restaurant & Marina next to Washington Bridge (I-195), East Bay Bike Path where Seekonk River flows in Providence Harbor. Scenic Views of India Point Park Bridge, Bold Point, Fox Point & beyond to the serene Providence Skyline. The Robust East Providence Waterfront District boasts a Long-Term Commitment to sustainability for Commercial & Residential Development. BOLD POINT HARBOR -BPH Zoning Provides: Mixed-use High-Density area of Commercial, Office, Retail & High-Density Multi-family Residential Uses. Hospitality uses including hotels & lodging, cafes, restaurants, bars & entertainment venues are also encouraged. Marinas, with limited support services & water-transit related services are also permitted. This updated Waterfront 12,000 SF. 2-unit building currently offers 1st floor Full Kitchen & Bar Service. 2nd Level is designed as full banquet facility. 3rd level may be utilized for office space or owner's condo living, 4th level attic Cathedral Beams. Updated 72 slip Marina w/new pump-out facility to be built for an enduring active Marina on 1.12 Acres w/56 Off street Parking spaces. Possible year round Dockominium conversion project. Very easy highway access to Boston, Cape Cod via Route 195 E/W to Route 95 N/S. Easy Show.

Property Details

  • Sale Type    Investment or Owner User
  • Sale Condition    Redevelopment Project
  • Property Type    Retail
  • Property Subtype    Restaurant
  • Building Size    17,347
  • Building Class    B
  • Year Built/Renovated    1845/2014
  • Price    3,250,000
  • Price Per SF    187
  • Percent Leased    31
  • Tenancy    Multiple
  • Building Height    3 Stories
  • Loading Docks    72 Exterior
  • Building FAR    0.36
  • Land Acres    1.12 AC
  • Opportunity Zone    Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • Bus Line
  • Freeway Visibility
  • Waterfront

Property Taxes

Parcel Number EPRO-000016-000002-000002 Improvements Assessment $864,000
Land Assessment $649,200 Total Assessment $1,513,200
Date Created: 2024-07-16 04:23:35 Last Updated: 2024-07-16 04:23:35
Address: 28 Water St , East Providence, Rhode Island, 02914