8 West Marlborough For Sale or Lease
Downtown Newport Restaurant
This amazing location in downtown Newport abuts the great Cardines Field and sits between the corners of America’s Cup & Thames Street on West Marlborough. Across from the Long Wharf Mall near the city’s shopping district plus the Newport “Gateway Visitors Center”. Amazing views of the historic Cardines Field, the restaurant sports outside dining in the “Bull-Pen” for game lovers to enjoy lunch or dinner and watch the game at field level. This is an amazing rare opportunity to own a restaurant icon in historic Newport. Food cart license is available for additional $25,000. Beer and Wine license also available for additional $150,000. For Sale or Lease
Address: 8 West Marlborough Street, Newport, RI
Sale Price: $1,000,000
Lease Price: $4,000 per month
Sewer: Tenant Responsible
Water: Tenant Responsible
Sprinkler System: Wet
Available Space: ~1900 sq.ft.
Gross Sales: N/A
Equipment Value: Kitchen: $25,000 Value, Use of equipment included in lease.
Taxes: $13,323 Per Year 2018, tenant responsible for 41% of increase
Year Built: 1900
-Tenant pays 41% increase in property taxes and insurance over base year.
-2nd floor production area includes storage space which optimizes restaurant space.
-2 Apartments – Income TBD.
Both units now available.
Location: Downtown Newport
Site: Abuts Cardines Field across from Long Wharf Mall
Road: Heavy vehicular traffic & great visibility
Rent Increases: 4% Annually
Term: 5 Year Minimum
Deposit: Equivalent of two months rent
Heat / Air: HVAC Rooftop Units
Available Date: Immediately
Financial: Tenant must prove financial strength
Zoning: General Business
Trash: Tenant Responsible
Cleaning: Tenant Responsible for interior unit & exterior/trash area
Insurance: $1M Public Liability Ins. Naming Landlord as Additional Insured; tenant pays increase in building & flood insurance over base year
Condition: As Is - Excellent
8 West Marlborough Street, Newport, RI,