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$2,950,000

  • For Sale
  • Active
  • Single Family
  • 10 Beds
  • 11 Full Baths
  • 4,488 Sq. Ft.
  • 0.69 Acres
  • Updated 12 days ago
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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.

Full Property Details for 85 Ocean Ave

General

  • Price: $2,950,000
  • Taxes: $12,030 (2025)
  • Status: Active
  • Type: Single Family
  • Source: STWMLS
  • MLS ID: 1422479
  • Updated: 9/4/2026
  • Added to Site: 36 day(s) ago

Interior

  • Number of Rooms: 12
  • Interior Features: Interior Steps, Tub Shower
  • Fireplace(s): None
  • Appliances: Exhaust Fan, Gas Water Heater, Oven, Range, Refrigerator, Range Hood, Washer
  • Flooring: Ceramic Tile, Hardwood, Laminate

Rooms

Bathrooms

  • Total Bathrooms: 11
  • Full Bathrooms: 11

Bedrooms

  • Total Bedrooms: 10

Additional Information

  • Security/Safety: Security System Owned

Parking

  • Total Spaces: 12
  • Parking Features: No Garage

Location

  • County: Washington
  • Subdivision: New Harbor - Town

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Ductless, Wall Unit(s)
  • Heating Type: Forced Air, Gas

Utilities

  • Sewer: Connected, Public Sewer
  • Water: Connected, Public
  • Utility Description: Sewer Connected

Structural Information

  • Architectural Style: Historic/Antique
  • Detached/Attached: Detached
  • Construction: Drywall, Shingle Siding
  • Basement Desc.: None
  • Stories/Levels: 3
  • Building Size: 4488
  • Square Feet: 4,488
  • Living Area: 4,488 Sq. Ft.
  • Finished Total: 4,488 Sq. Ft.
  • Finished Above Grnd: 4,488 Sq. Ft.
  • Year Built: 2018

Lot Features

  • Property View: Saltwater, Water
  • Lot Size (Acres): 0.69
  • Lot Size (Sq. Ft.): 30,056
  • Lot Size: 30056
  • Sidewalks: Yes

Water Features

  • Water View: Yes
  • Water Front Desc.: Walk to Water

Financial Considerations

  • Tax Amount: $12,030.34
  • Tax Year: 2025

Disclosures and Reports

  • Inclusions: 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
  • Property ID: 85OCEANAVNSHM
  • Lot Number: 3-3

Listed by Lila Delman Compass

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Listing agent

— 85 Ocean Ave —

  • Lila Delman Compass

401-741-1825

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 85 Ocean Ave

School District:New Shoreham School District
NameGradesDistance
Block Island School
Block Island School, New Shoreham, RI 02807
K-120.6 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 85 Ocean Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/04/2026
Listed
$2,950,000
58.18%
MLS
3/13/2025
Sold
$1,865,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 85 Ocean Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,401
4%
$937,600
-1%
2024
$5,206
-8%
$943,200
—
2023
$5,678
8%
$943,200
27%
2022
$5,239
6%
$739,920
—
2021
$4,957
5%
$739,920
—
2020
$4,706
11%
$739,920
8%
2019
$4,233
117%
$687,200
110%
2018
$1,947
36%
$327,280
34%
2017
$1,427
3%
$243,440
—
2016
$1,392
4%
$243,440
—
2015
$1,341
-17%
$243,440
-20%
2014
$1,625
3%
$304,300
—
2013
$1,585
—
$304,300
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Lila Delman Compass

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85 Ocean Avenue, Block Island, RI 02807 (MLS# 1422479) is a Single Family property with 10 bedrooms and 11 full bathrooms. 85 Ocean Avenue is currently listed for $2,950,000 and was received on September 04, 2026. Want to learn more about 85 Ocean Avenue? Do you have questions about finding other Single Family real estate for sale in Block Island? You can browse all Block Island real estate or contact a Coldwell Banker agent to request more information.

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