7 months on rocket

85 Ocean Ave, Block Island, RI, 02807

$2,100,000

Home List Price

$10,000*

Closing Credit

3 Full Baths
2,992 SqFt
$702/SqFt
House

Location

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85 Ocean Ave, Block Island$2,100,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingNo Garage
Year Built2018
HeatingForced Air, Propane
CoolingNone
WaterfrontWaterfront
FireplaceNone
ViewWater
MLS #1354663
Lot Size0.69 Acres
StatusActive

About 85 Ocean Ave

Introducing The Gateway Commons, a remarkable commercial property ideally positioned just moments away from the dynamic town center. This meticulously maintained establishment, erected in 2017, currently thrives as a bar/restaurant and presents a myriad of business opportunities within the Block Island Service Commercial zone. Spanning two levels, the building boasts expansive dining and bar areas, two distinct kitchens, one with the potential for full-service capabilities, three bathrooms, an office space, and ample storage. The second floor holds promise for further development, with the potential to convert the unfinished attic into an apartment, pending planning and zoning approvals. With nineteen parking spots and full ADA compliance, this property is poised for diverse ventures in a highly accessible locale. Whether sustaining the existing enterprise or venturing into new realms, the Gateway Crossing building offers an exceptional platform for commercial success at the core of the community. The Old Island Pub Business is not for sale.

Property Details

Property Features

Property Information:

  • Year Built: 2018
  • Stories: 2
  • Living Area: 2,992 SqFt

Listing Office:

  • Office Name: Lila Delman Compass
  • Office Phone: (401) 466-8777

Interior Features

Interior Information:

  • Appliances: Exhaust Fan, Gas Water Heater, Microwave, Range Hood
  • Basement: No
  • Flooring Type: Ceramic Tile
  • Interior: Attic, Internal Expansion, Permanent Attic Stairs, Cable TV
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 3

Exterior Features

Exterior Information:

  • Waterfront: Waterfront
  • View: Water
  • Exterior: Sprinkler/Irrigation

Parking Information:

  • Parking: No Garage

Lot Features

Lot Information:

  • Lot: Sprinklers
  • Lot Size: 0.69 Acres

Utilities

Utilities Information:

  • Heating: Forced Air, Propane
  • Cooling: None

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,100,000
  • Price Per SqFt: $702/SqFt

Tax Information:

  • Annual Amount: $4,957
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Block Island, RI.

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Block Island, RI

City

Med. Sold Price

$1.5M

Med. Price/SqFt

$811

Avg. Days On Market

90

# of Sold Homes

2

85 Ocean Ave vs Block Island

237 DAYS ON ROCKET

+147 Days

$2,100,000

+$588K More

$702/SqFt

-$110 Less

KEY TAKEAWAY

This property is $588K more than the Median Sold Price and $110/SqFt less than other homes in Block Island, RI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: RIS
  • MLS Number: #1354663

Listing Office:

  • Office Name: Lila Delman Compass
  • Office Phone: (401) 466-8777

Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than this broker are marked with the MLS logo and detailed information about them includes the name of the listing brokers. The purchase price of housing stock as shown on this website may vary depending on factors such as fees, commissions, price negotiations, home inspection results, market conditions, etc. This website in no way warrants or represents that submitting an offer to purchase a property for the list price will result in a sale at that price. Please consult with your REALTOR® to discuss how these variations may affect your real estate transaction. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable, but is neither guaranteed nor independently verified. Interested parties must make their own inquiries. Copyright © 2024 State-Wide MLS, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 2:20:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$4,957$739,920
2020$4,706$739,920
2019$4,233$687,200
2018$1,947$327,280
2017$1,427$243,440

History based on county public records data.

Payment Calculator

$10.5K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,362

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-316597
8
/10

  • Matunuck School

  • 380 Matunuck Beach Rd

  • 14.63 miles

  • Public District Grades KG-4

school-card-donut-316598
7
/10

  • Dunn's Corners Elementary School

  • 8 1/2 Plateau Rd

  • 16.01 miles

  • Public District Grades KG-4

school-card-donut-316599
5
/10

  • Wakefield School

  • 101 High St

  • 18.63 miles

  • Public District Grades PK-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $83,464. Residents of Block Island, RI typically earn between $35k-100k each year. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 85 Ocean Ave

What is the listing price of this property?

The listing price of 85 Ocean Ave property is $2,100,000.

What type of property is this?

The property 85 Ocean Ave is a house located in Block Island, Rhode Island, 02807.

Is this property for sale now?

Active Listing: 85 Ocean Ave is For Sale (Active/New) which means the seller is accepting offers.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $4,957 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 85 Ocean Ave has 3 bathrooms..

What is the square footage of this property?

The property 85 Ocean Ave is 2,992 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 85 Ocean Ave is 2018.

Rocket Homes›Rhode Island›Washington County›Block Island›02807›85 Ocean Ave

This home is located at 85 Ocean Ave in Block Island, RI and zip code 02807. This 2,992 square foot home, which was built in 2018, sits on a 0.69 acre lot. Features: 3 bathrooms. It has been listed on Rocket Homes since March 29, 2024 and is currently priced at $2,100,000.

Over 0 listings were sold over their listed price in October 2024 in Block Island, RI. In the same period over 1 listings were sold below the listed price and 1 listings were sold for the listed price. Between September 2024 and October 2024, Block Island, RI real estate market has seen decrease in the number of listings by 33.3%. In October 2024 median list price was $1,512,000 and the average listing age was 90 days.

From Rocket Homes Real Estate and based on county public records data.

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