476 Thames Street

Why We Love it

476 Thames Street, ‘Lucy’s Cafe and Bakery’, Newport RI

A great opportunity to buy a turn key cafe business and secure a long term lease on Thames Street in Newport, RI. Business sale price is $50,000 and comes with all equipment and furniture. Below are lease terms that are to be assumed by the next owner operator. This is perfect timing for the next chapter of this space with Summer just around the corner!

SALE PRICE:

$50,000

LEASE PRICE:

$3,000/ Month

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BUSINESS SALE PRICE:
$50,000

LEASE PRICE:
$3,000/ Month

FLOOR:
Two floors: prep kitchen in lower level, cafe on second floor

PROPERTY TYPE:
Cafe/ restaurant use

AVAILABLE SPACE:
~1,000 SqFt Total:
500 SqFt Lower Level
500 SqFt Upper Level
+ Use of a portion of the patio

AVAILABLE DATE:
Immediately

FRONTAGE:
Excellent frontage on high traffic Thames Street

TERM:
Landlord is willing to sign a lease commitment of at least three years

BATHROOMS:
Two bathrooms, one on each floor

ELECTRIC:
Tenant Responsibility

SEWER:
Publicly Connected

WATER:
Publicly Connected, tenant responsibility

INSURANCE:
$1M Public Liability naming Landlord as Co-Insured
Plate glass insurance is required

CONDO ASSOCIATION:
N/A

PLAT/LOT:
27/ 257

UNIT DESCRIPTION:
Two floor unit, prep kitchen on lower level, cafe retail space on upper level

LOCATION:
On the corner of Thames Street and S. Baptist Street

PARKING:
N/A Street parking only

HEAT/AIR:
Gas Fired HVAC: Tenant Responsible

INTERNET:
Tenant Responsible. Provider: Cox Communications

LANDSCAPING/SNOW REMOVAL:
Tenant Responsible for ensuring front of store is cleared of snow.

TRASH:
Tenant Responsible for the cost of trash removal

CLEANING:
Tenant Responsible

ZONING:
LB- Limited Business

RESTRICTED USES:
This space is zoned for fast food use

FINANCIAL REQUIREMENTS:
Financials hereby requested

RENT INCREASES:
4% annual increases