Address
85 Ocean Avenue, Block Island, RI
Price
$ 2,950,000
Property Attributes
- MLS#1422479
- TypeSingle Family
- Listing Status Active
- CountyWashington
- CityBlock Island
- NeighborhoodNew Harbor - Town
- Zip02807
- Style
- Year Built2018
- Taxes$ 12030
- Price$ 2,950,000
- Bedrooms10
- Full Bathrooms11
- Half Bathrooms0
- Sqr Footage4488
- Lot Size0.69 Acres
Data Source:
Rhode Island Statewide MLS (RIAR)
Property Description
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.
| Price History | |
|---|---|
| 9/4/2026 | Listed $2,950,000 |
General Features
| Sewer | Connected,Public Sewer |
|---|---|
| Heating | Forced Air,Gas |
| Cooling | Ductless,Wall Unit(s) |
| Utilities | Sewer Connected |
| Possession | Close Through 45 Days |
| Zoning | SC |
| Security Features | Security System Owned |
| Construction Materials | Drywall,Shingle Siding |
| Year Built | 2018 |
| Electric | 200+ Amp Service |
| View | Saltwater,Water |
| Stories Count | 3 |
| Levels | Three Or More |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| Waterfront Features | Walk to Water |
| Community Features | Marina,Pool,Restaurant,Shopping,Sidewalks |
| County | Washington |
| New Construction | false |
| Property Type | Residential |
| Subdivision Name | New Harbor - Town |
| Garage Y/N | false |
| Total Rooms | 12 |
| Full Baths | 11 |
| Status | Active |
| City | Block Island |
| Senior Community Y/N | false |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 30056 |
| Land Lease Y/N | false |
| Tax Annual Amount | 12030.34 |
| Standard Status | Active |
| Tax Assessed Value | 1864200 |
| Tax Lot | 3-3 |
| Property Sub Type Additional | Single Family Residence |
Interior Features
| Interior Amenities | Interior Steps,Tub Shower |
|---|---|
| Basement | None |
| Flooring | Ceramic Tile,Hardwood,Laminate |
| Fireplace Features | None |
| Total Stories | 3 |
| Basement (Y/N) | false |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Fireplace Y/N | false |
| Total Bedrooms | 10 |
| LivingAreaSource | Public Records |
| Total Baths | 11 |
Exterior Features
| Parking Features | No Garage |
|---|---|
| Water Source | Connected,Public |
| Total Parking | 12 |
| Inclusions | Based on illustrative nightly rates of $400 for each of the six shared-bath guest rooms, $600 for each of the three queen rooms and $800 for the larger suite, the property offers potential gross room revenue of approximately $5,000 per fully occupied night. Using a 150-night primary operating season, illustrative gross lodging revenue would be approximately $450,000 at 60% occupancy, $525,000 at 70% occupancy, $600,000 at 80% occupancy and $675,000 at 90% occupancy, with maximum potential gross room revenue of $750,000 at full occupancy. These projections represent lodging revenue only and do not include potential revenue from extended shoulder-season operation or other business opportunities. All revenue figures are hypothetical projections provided for illustrative purposes only and are not based on historical operating results or a representation or guarantee of future income, occupancy or performance. |
| Lot Size Area | 30056 |
| Foundation Details | Slab |
| Building Area Total | 4488 |
| Lot Size Acres | 0.69 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 02807
Price
Taxes
Year Built
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