506 Park Avenue Portsmouth, RI $ 849,000
506 Park Avenue
$ 849,000
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506 Park Avenue

Portsmouth, RI, 02871
$ 849,000
Bedrooms-- Baths0.0 Sq 4,044

Monthly Estimate*

$ 5,864

506 Park Avenue, Portsmouth, RI 02871 - Image 1
506 Park Avenue, Portsmouth, RI 02871 - Image 2
506 Park Avenue, Portsmouth, RI 02871 - Image 3
506 Park Avenue, Portsmouth, RI 02871 - Image 4
506 Park Avenue, Portsmouth, RI 02871 - Image 5
506 Park Avenue, Portsmouth, RI 02871 - Image 6

Single Family Home for sale in Portsmouth, RI

for $849,000. This 4,044 square foot home was built in 1940 on a lot size of 0.3.

Exceptional Coastal Restaurant & Real Estate Opportunity in Portsmouth. Situated Across from the Sakonnet River! Welcome to 506 Park Avenue, a meticulously newly renovated property offering 4,044 square feet located in Portsmouth's charming Island Park waterfront community. Step inside to an inviting atmosphere with seating for 133 guests, a welcoming bar, and a cozy fireplace perfect for New England evenings. The rich interior features French bistro-style cross-back chairs with navy blue upholstered seats, coordinating wood tables and newly renovated wood floors. Entertain outdoors on the spacious fenced-in patio with additional seating for up to 40 guests! An immaculate commercial kitchen offers possibilities for a restaurant, caf , or specialty food concept. The 2nd floor features two bedrooms and one bathroom, offering potential for office, residential use, or rental income opportunities. Investors/developers may also explore other potential investment opportunities for the building such as converting the real estate into multi-family homes or condos in accordance with local zoning. Ideally situated near waterfront attractions, beaches, year-round residents, and seasonal visitors, this distinctive property offers exciting possibilities for restaurateurs, entrepreneurs, investors and developers. Bring your vision and next great concept to Island Park!

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Single Family Active

Price

$ 849,000

Property Type

Single Family

Taxes

$ 4,422

Style

Lot Size

0.3

Year Built

1940

Town/City

Portsmouth

County/Region

Newport

MLS | Web ID

1427712

Features
General
Sewer SepticTank
Heating Ductless Gas HeatPump
Cooling Ductless CentralAir
Utilities CableAvailable ElectricityAvailable NaturalGasAvailable NaturalGasConnected MunicipalUtilities WaterConnected
Possession Immediately
Security Features FireSprinklerSystem
Construction Materials Frame
Year Built 1940
Electric Amps200OrMore
Stories Count 2
Levels Two
Property Subtype Commercial
Tax Year 2026
Business Type FoodAndBeverage Mixed Restaurant Residential
Community Features Golf HighwayAccess Marina NearSchools Pool Restaurant StreetLights Sidewalks
County Newport
New Construction false
Property Type CommercialSale
Subdivision Name Island Park
Possible Use Commercial MixedUse Office Residential Retail
Building Features PublicRestrooms
Status Active
City Portsmouth
Number Of Units Total 2
Lot Size Units SquareFeet
Lot Size Square Feet 12197
Land Lease Y/N false
Tax Annual Amount 4422
Standard Status Active
Tax Assessed Value 449700
Tax Lot 14
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Interior
Basement Full
Furnished Y/N Furnished
Total Stories 2
Basement (Y/N) true
Air Conditioning Y/N true
Heating Y/N true
Total Baths 0
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Exterior
Water Source Connected Public
Total Parking 15
Lot Size Area 12197
Foundation Details ConcretePerimeter
Number of Buildings 1
Building Area Total 4044
Lot Size Acres 0.3
Frontage Length 70
Road Frontage Type CityStreet
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* Excluded Features
List By
Re/Max Profnl. Newport, Inc.

Broker

thesingingrealtor25@gmail.com

Email

Affordability Calculator

$6,232
Per Month
94%
6%
0%
Monthly Principal & Interest
$5,864
Monthly Property Taxes
$369
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
11/4/2026$849,000 Listed Price

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506 Park Avenue, Portsmouth, RI, 02871 is a Single Family Home for sale at $849,000 with 4,044 sqft and a lot size of 0.3. 506 Park Avenue has 0.0 baths and was built in 1940. The property's zip code is 02871 which is in Portsmouth, RI