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234 Water Street, Block Island

234 Water Street Block Island

$5,450,000
1,200 sq ft

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The Property

Old Harbor is the center of Block Island’s thriving tourism industry, known for its quaint streets, boutique shops, excellent dining, and proximity to the ferry. Located in the heart of Old Harbor, this mixed-use property presents a unique opportunity to own a piece of the island’s vibrant community. Situated on a 10,000± sq ft lot with rare, dedicated parking, the property is designed for both function and convenience. The iconic main building (7,000± sq ft) includes three commercial units and three residential units, offering significant potential for investors.

Built in 2000 in the historic Mansard style, the property blends modern amenities with architectural features that reflect the character of Block Island. Updates to the building include newer roof, windows, air conditioning, and decking. An additional 672 sq ft commercial outbuilding, originally built in 1900, adds further flexibility for various uses. Permitted uses by right include professional and business services, retail trade, restaurants, and physical fitness. Additional uses may be possible with a special use permit. Residential units can be offered for short-term or long-term rental or reserved for the owner’s use. There is also potential for establishing a condominium ownership structure to maximize investment returns. With its prime location, sweeping harbor views, modern construction, and historical aesthetic, this property is well-suited to support a wide range of enterprises.

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Listing Details

MLS Number

1376252

Lot Size:

0.23 acres

Features

  • Restrooms
  • Security
  • Sprinklers
  • Marina
  • Near Swimming
  • Restaurant
  • Heating: Baseboard, Zoned
  • Heating Fuel: Baseboard, Zoned
  • Laundry
  • Local Historic District
  • Downtown
  • Historic
  • Year Built: 2001

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Market Trends for Commercial Sale
in Block Island

  • Overview
    Homes for Sale Today1100% increase in inventory
    New on Market *0100% increase in new listings
    Avg. Asking Price/Sq.Ft. *$0.00$0 increase in List Price/Sq.Ft.
    Avg. Sale Price *$0$0 increase in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *%100% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$0.00$0 increase in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *0 increase in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

    Contact Us

    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Ballard Hall Sales Group

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