Block Island Post Office Building

Block Island Post Office Building

Rare opportunity to own in OLD HARBOR COMMERCIAL on Block Island in RI. The Post Office Building,comprised of 9 retail/office spaces in addition to the U.U. Post OfficeRare opportunity to own in OLD HARBOR COMMERCIAL on Block Island in RI.
The Post Office Building,comprised of 9 retail/office spaces in addition to the U.U. Post Office
The property overlooks picturesque Old Harbor and town.
Listed at $2,920,000
Call for details

Address: 
30 Water St, New Shoreham, RI 02807
Property Subtypes:
Free-Standing Building, Mixed Use, Post Office, Restaurant, Street Retail
Building Size (RSF):
12,236 SF
Gross Building Area:
See Agent
Sale Price:
$2,920,000
Unit Price:
$238.64 PSF
Property Use Type:
Investment, Business
Sale Terms:
Cash to Seller
Cap Rate:
Undisclosed

Financials

Finance Data Year:
2017
Real Estate Taxes - Annual($):
$12,120 (Annual)
Tax Value Land:
$1,180,900
Tax Value Improvements:
$1,467,800
Assessed Value - Total($):
$2,648,700 (Annual)

Tenants

Tenant Business Name:
United State Post Office
Is Renting?:
Yes
Lease Expiration:
10/2031
Tenant Notes:
The United States Post Office pays 40% of the property taxes each year of their lease. Additionally they pay all their own utilities of heat, water, sewer, electric, etc. The space has two oil fired forced hot air furnaces and two 275 gallon oil tanks.

Tenant Business Name:
Island Bound Book Store
Tenant Notes:
Island Bound is a full service book store offering lots of room to relax and browse! The store stocks the Island's widest variety of fine literature for all ages. Additionally the store offers a large selection of Art Products and Supplies and hosts Art Classes! This tenant pays their own utilities. The space has its own oil fired forced hot air furnace and a 275 gallon oil tank. Furnishings and equipment owned by tenant.

Tenant Business Name:
Calaveras Mexican Restaurant
Industry Type:
Accommodation and Food Services
Tenant Notes:
Calaveras - A Mexican Restaurant serving on Block Island- bringing to you authentic Mexican flavors in a casual setting. Good for groups, good for kids, indoor and outdoor seating. Serving Breakfast, Lunch & Dinner. Tenant pays their own utilities. Most equipment owned by property owner (list available). Seasonal business,

Tenant Business Name:
Jessie Edwards Gallery
Tenant Notes:
Jessie Edward Studio - a premier gallery overlooking Historic Old Harbor- specializes in contemporary fine are and represents over 30 artists. The gallery hosts regular openings and ongoing exhibits including paintings, drawings, ceramic works, photographs, wood cuts and fine art prints. Open May through December and by appointment in the winter months.

Tenant Business Name:
Clayhead Salon and Spa

Tenant Business Name:
New Perspectives Psychotherapy

Tenant Business Name:
Deep Water Wind Offices
Tenant Notes:
Deepwater Wind is proud to be America’s leading offshore wind developer. The company’s path breaking Block Island Wind Farm is the first in the nation. Deepwater Wind is making offshore wind in America a reality. Headquartered in Providence, RI, and with offices on Block island, DWW is actively planning offshore wind projects to serve multiple East Coast markets located 15 or more miles offshore, including New York, Massachusetts, Rhode Island, Maryland, and New Jersey.

Tenant Business Name:
Phillips Real Estate
Is Renting?:
Yes
Phone Number:
401-466-8806
Website URL:
phillipsonbi.com
Industry Type:
Real Estate and Rental and Leasing
Year Founded:
1999
Tenant Notes:
Phillips Real Estate is an office made up of year -round friendly personnel. It is a vibrant year round real estate agency serving buyers and sellers, both on and off island with a strong knowledge and long standing association withe the Island. The office sustains membership with RI Association of Realtors, The National Association of Realtors and the Statewide Multiple Listing Service.

Additional Details

Nearest MSA:
Providence-Warwick
County:
Washington
Zoning:
LOCATED IN THE OLD HARBOR COMMERCIAL ZONE
Retail Clientele:
General, Business, Tourist
Largest Nearby Street:
Water Street
Feet of Frontage:
133
Tenancy:
Multiple Tenants
Total Number of Buildings:
1
Number of Stories:
2
Property Condition:
Good
Year Built:
1995
Roof Type:
Hip
Construction/Siding:
Wood Shingle
Parking Type:
Surface
Sprinklers:
Wet
Heat Type:
Oil
Heat Source:
Central
Air Conditioning:
Other
Zoning Description:
Located in the Old Harbor Commercial Zone
Lot Frontage:
139 ft on Water Street, 202 ft on Adrian House Lane
Water Service:
Municipal, Well
Sewer Type:
Municipal