$2,950,000

About this home

85 Ocean Avenue presents a rare opportunity to acquire a newly renovated 10-room hospitality property on Block Island. Ideally positioned with convenient access to Old Harbor, beaches, shops, restaurants and all the Island has to offer, the property combines an established hospitality layout with significant income and future development potential. The flexible three-level configuration includes six spacious guest rooms on the first and second levels with shared bath facilities, a second-level kitchen and first-level laundry. The third level features four premium accommodations, including three queen guest rooms and one larger suite. The property has been thoughtfully renovated while maintaining a versatile layout well suited for an inn, hostel-style accommodations or other hospitality concepts. Illustrative nightly room rates support potential gross room revenue of approximately $5,000 per fully occupied night, providing an exciting opportunity for an investor or hospitality operator. In addition to the existing improvements, the property offers the potential for approximately 4,500 square feet of additional development, creating further possibilities for expansion and increased revenue. A distinctive commercial hospitality offering in one of Block Island’s most desirable destinations. Projected income analysis and architectural plans are available upon request.

Property facts

Property type

Single Family Residence

Year built

2018

Living area (sq ft)

4,488

Above-grade finished (sq ft)

4,488

Below-grade finished (sq ft)

0

Lot size (acres)

0.69

Total rooms

12

Stories

3

Garage spaces

0

Total parking

12

Annual taxes

$12,030.34

Tax year

2025

Neighborhood

New Harbor - Town

County

Washington

Features

Heating

Natural Gas, Forced Air

Cooling

Wall Unit(s)

Basement

None

Appliances

Exhaust Fan, Range Hood, Oven, Range, Refrigerator, Washer, Gas Water Heater

Interior

Wall (Dry Wall), Wall (Paneled), Stairs, Plumbing (Mixed), Plumbing (PVC), Insulation (Ceiling), Insulation (Walls)

Fireplace

None

Parking

No Garage

Construction

Dry Wall, Paneled, Shingles

Utilities

Sewer Connected, Water Connected

Sewer

Public Sewer

Water

Municipal

Waterfront

Saltwater View, Walk to Salt Water

Community

Marina, Restaurants, Shopping, Near Swimming

Lot

Local Historic District, Sidewalks

Location