USARIBlock IslandTown & Old Harbor85 Ocean Ave

New

$2,950,000

For Sale

15 hours ago

85 Ocean Ave, Block Island, RI

Name: 85 Ocean Ave, For Sale in Block Island - eXp Realty
Brand: Lila Delman Compass
SKU: 1422479
Price: 2950000 USD

House

MLS® 1422479

10 Bed

11 Bath

4488 sqft

12 Parking

Key Facts
Description
Map

Key Facts

Type Single Family Residence

Levels Residential

Size 4488 sqft

Garage

Taxes $12,030

Days Active 1

Lot Size 0.69 Acres

Approx. Age 2018

Avg. Price Per Sqft $657

MLS® Number 1422479

Property Address: 85 Ocean Ave, Block Island, RI, 02807-7728

Average square foot calculated using Size range provided by listing agent.

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.

MLS® Number1422479

Laundry Level

Central VacNo

FireplaceYes

Acreage

Exterior

Garage

Approx. Age2018

BasementNone

DrivewayNo Garage

Garage Spaces

HeatForced Air, Gas

A/CDuctless, Wall Units

Extras

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.

Price History

-End Date

Not Sold YetSold Price

For Sale

Sep 4, 2026List Date

$2,950,000List Price

Mar 19, 2025End Date

$1,865,000Sold Price

Sold

Mar 29, 2024List Date

$1,895,000List Price

Commute

Commute

Starting Address

Destination Address

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