116 Aquidneck Avenue Middletown, RI $ 3,999,000
116 Aquidneck Avenue
$ 3,999,000
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116 Aquidneck Avenue

Middletown, RI, 02842
$ 3,999,000
Bedrooms-- Baths-- Sq 9,149

Monthly Estimate*

$ 24,623

116 Aquidneck Avenue, Middletown, RI 02842 - Image 1
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116 Aquidneck Avenue, Middletown, RI 02842 - Image 9
116 Aquidneck Avenue, Middletown, RI 02842 - Image 10
116 Aquidneck Avenue, Middletown, RI 02842 - Image 11

Commercial Property for sale in Middletown, RI

for $3,999,000. This 9,149 square foot building was built in 1960 on a lot size of 0.57.

A rare development opportunity in the heart of Middletown. This unique offering includes two adjacent, fully operational businesses available together as a single package. Diego's Cantina is a turnkey, 5,500 sq. ft., 166-seat, pond-front Mexican restaurant and function venue long recognized as a Middletown staple. With beautiful west-facing Easton Pond views, the space is ideal for dining, private events, and year-round operations. Next door, Rejects Brewery offers 3,600 sq. ft. of versatile, LBA-zoned space suitable for a wide range of uses including food service, manufacturing, distribution, and more. Combined, the properties create a .57-acre parcel with strong potential for future hotel development or mixed-use projects, while also providing the option to operate two established businesses immediately. An exceptional investment opportunity with multiple paths for value creation.

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Commercial Contingent

Price

$ 3,999,000

Property Type

Commercial

Taxes

$ 30,521

Style

Lot Size

0.57

Year Built

1960

Town/City

Middletown

County/Region

Newport

MLS | Web ID

1401255

Features
General
Sewer Connected
Cooling Central Air
Utilities Natural Gas Connected Sewer Connected
Possession Immediately Rental Agreement
Zoning LBA
Security Features Fire Alarm
Construction Materials Frame Masonry
Year Built 1960
Electric 200+ Amp Service
View Water
Stories Count 2
Levels Two
Property Subtype Commercial
Tax Year 2025
Business Type Commercial Distribution Food & Beverage Hotel/Motel Manufacturing Mixed Restaurant Retail
Community Features Marina Near Hospital Near Schools Pool Recreation Area Restaurant Shopping Waterfront High Traffic Location Sidewalks
County Newport
New Construction false
Property Type Commercial Sale
Contingency Inspection Period
Subdivision Name Eastons Beach
Possible Use Investment Mixed Use Residential Retail
Building Features Public Restrooms
Status Active Under Contract
City Middletown
Number Of Units Total 1
Lot Size Units Square Feet
Lot Size Square Feet 24829
Number of Units Leased 2
Property Attached Y/N true
Land Lease Y/N false
Tax Annual Amount 30521
Lease Considered Y/N true
Standard Status Active Under Contract
Occupancy Type Owner
Tax Assessed Value 2246700
Tax Lot 135/137
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Interior
Basement Partial
Total Stories 2
Basement (Y/N) true
Air Conditioning Y/N true
Total Baths 0
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Exterior
Water Source Connected
Total Parking 44
Inclusions All restaurant FF&E to convey with the sale.
Lot Size Area 24829
Foundation Details Combination
Number of Buildings 2
Building Area Total 9149
Lot Size Acres 0.57
Road Surface Type Paved
Road Frontage Type City Street
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* Excluded Features
List By
Gustave White Sotheby's Realty

Broker

msweeney@gustavewhite.com

Email

Affordability Calculator

$27,166
Per Month
91%
9%
0%
Monthly Principal & Interest
$24,623
Monthly Property Taxes
$2,543
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
0 Elementary School
0 Middle School
Pricing History
DatePricePrice ChangeDescription
2/18/2026$3,999,000 -4.79% Price Down
12/8/2025$4,200,000 Listed Price

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116 Aquidneck Avenue, Middletown, RI, 02842 is a Commercial Property for sale at $3,999,000 with 9,149 sqft and a lot size of 0.57. 116 Aquidneck Avenue was built in 1960. The property's zip code is 02842 which is in Middletown, RI