41.493023 -71.30988
$5,100,000
For Sale Under Contract
10,719Sqft
17,432Lot Size
Commercial/Business in Newport
A Unique Opportunity to Own a Block of Newport, RI with frontage on three sides at 105-111 Broadway. Located in the heart of the vibrant & local Broadway neighborhood, this block contains a successful restaurant of 17 years (The Fifth Element) and a fully permitted development opportunity for a 40 room luxury hotel. Zoning, Planning, Utility and City approvals including demo, foundation, building & utility permits have been obtained over the last 3 years and remain in place ready to convey. Preliminary design and development plans are also available. The restaurant has had continued success through constant ingenuity during the Covid crisis with their redesigned interior and newly built outside dining space, The Outer Element. This is a package deal with all the plans to date and a turnkey restaurant including liquor license, inventory, equipment, trademarks, URL’s etc.
Courtesy Of Teri Degnan RE & Consulting

Main Features

  • Listing Status: For Sale Under Contract
  • Year Built: 1940
  • County: Newport
  • Taxes: $19,278.00
  • Zoning: GB
  • Subdivision: Broadway
  • MLS Number:1274714

Additional Features

  • Zoning:
    • GB
  • Cooling:
    • Central Air
  • Furnished:
    • 1
  • Inclusions:
    • All equipment to convey
  • Building Description:
    • Frame
    • Masonry
  • Building Features:
    • Garage
    • Restrooms
  • Business Name:
    • Fifth Element & Foley Lot
  • Loading Dock:
    • 9-11 Ft
  • Location:
    • Downtown
  • Occupied By:
    • Owner
  • Type:
    • Hospitality
    • Hotel/Motel
    • Real Estate
    • Restaurant
  • Basement Details:
    • None
  • Foundation:
    • Slab
  • Acres:
    • 0.40
  • Frontage:
    • 178
  • Site Description:
    • Corner
    • Paved
    • Sidewalks
  • Electric:
    • 200 Amps
  • Heating System:
    • Central Air
    • Central Heat
    • Forced Air
    • Gas Connected
  • Sewer:
    • Connected
  • Utilities:
    • Gas
    • Gas Available
    • Gas Connected
    • Municipal Water
  • Number of Buildings:
    • 2
  • Road:
    • Municipal
  • Water:
    • Available
    • Connected
    • Municipal
  • Contract Type:
    • Soliciting Back-up Offers
  • Financing Source:
    • Owner
  • Franchise:
    • N
  • Miscellaneous Features:
    • Aerial Photo
    • Boundary Survey
    • Building Plan
    • Envir. Site Assmnt.
    • Liquor License
  • Above Grade SQFT:
    • 10719
  • Anchors Co Tenants:
    • Fifth Element
  • Building Levels:
    • 2
  • Divisable:
    • Y
  • Franchise Name:
    • N/A
  • Freestanding:
    • Y
  • Listing Website:
    • www.teridegnan.com
  • Lot Size Sq Ft:
    • 17432
  • Number Of Units Leased:
    • 0
  • Onsite Parking Spaces:
    • 43
  • Total Parking Spaces:
    • 43
  • Use Type:
    • Hospitality
  • Years Current Owner:
    • 10
77 Dr. Marcus F.Wheatland Blvd Unit 1C Newport RI 02840
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