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$3,999,000 -$201,000 (-4.79%) Price Reduced

  • For Sale
  • Active
  • Manufacturing
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A rare development opportunity in the heart of Middletown. This unique offering includes two adjacent, fully operational businesses available together as a single package. Diego's Cantina is a turnkey, 5,500 sq. ft., 166-seat, pond-front Mexican restaurant and function venue long recognized as a Middletown staple. With beautiful west-facing Easton Pond views, the space is ideal for dining, private events, and year-round operations. Next door, Rejects Brewery offers 3,600 sq. ft. of versatile, LBA-zoned space suitable for a wide range of uses including food service, manufacturing, distribution, and more. Combined, the properties create a .57-acre parcel with strong potential for future hotel development or mixed-use projects, while also providing the option to operate two established businesses immediately. An exceptional investment opportunity with multiple paths for value creation.

Full Property Details for 116 Aquidneck Ave

General

  • Price: $3,999,000
  • Taxes: $30,521 (2025)
  • Status: Active
  • Type: Manufacturing
  • Source: STWMLS
  • MLS ID: 1401255
  • Updated: 2/18/2026
  • Added to Site: 73 day(s) ago

Business

  • Business Type: Commercial, Distribution, Food & Beverage, Hotel/Mote
  • Year Established: 2018
  • Seating Capacity: 300

Additional Information

  • Security/Safety: Fire Alarm

Parking

  • Total Spaces: 44

Location

  • County: Newport
  • Subdivision: Eastons Beach

Community

  • Units Assoc/Comm: 2

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air Conditioning

Utilities

  • Sewer: Connected
  • Water: Connected
  • Utility Description: Natural Gas Connected, Sewer Connected

Structural Information

  • # Buildings: 2
  • Detached/Attached: Attached
  • Construction: Frame, Masonry
  • Basement: Yes
  • Basement Desc.: Partial
  • Stories/Levels: 2
  • Building Size: 9149
  • Finished Total: 9,149 Sq. Ft.
  • Finished Above Grnd: 9,149 Sq. Ft.
  • Year Built: 1960
  • Other Struct. Feat.: Public Restrooms

Lot Features

  • Property View: Water
  • Lot Size (Acres): 0.57
  • Lot Size (Sq. Ft.): 24,829
  • Lot Size: 24829
  • Frontage: City Street, Paved
  • Sidewalks: Yes
  • Potential Use: Investment, Mixed Use, Residential, Retail

Water Features

  • Water View: Yes

Financial Considerations

  • Tax Amount: $30,521
  • Tax Year: 2025
  • Owner Pays: All Utilities

Disclosures and Reports

  • Documents Avail.: Environmental Study, License(s), Site Plan, Survey, Water/Well Report
  • Inclusions: All restaurant FF&E to convey with the sale.
  • Property ID: 116124AQUIDNECKAVMDLT
  • Lot Number: 135/137

Listed by Gustave White Sotheby's Realty

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Listing agents

— 116 Aquidneck Ave —

  • Gustave White Sotheby's Realty

  • Gustave White Sotheby's Realty

401-849-3000

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 116 Aquidneck Ave

School District:Middletown School District
NameGradesDistance
Middletown High School
130 Valley Road, Middletown, RI 02842
9-121.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 116 Aquidneck Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/18/2026
Price Reduced
$3,999,000
-4.79%
MLS
12/08/2025
Listed
$4,200,000
200%
MLS
1/09/2018
Sold
$1,400,000
—
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 116 Aquidneck Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$20,632
5%
$1,518,200
—
2024
$19,706
7%
$1,518,200
54%
2023
$18,470
5%
$987,700
—
2022
$17,572
-24%
$984,400
—
2021
$23,166
—
$984,400
31%
2021
$23,166
70%
$749,600
—
2018
$13,643
-11%
$749,600
—
2016
$15,301
2%
$748,600
—
2015
$14,942
—
$748,600
7%
2014
$14,876
2%
$697,100
—
2013
$14,548
—
$697,100
—
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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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

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NMLS#: 1598647

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Listed by Gustave White Sotheby's Realty

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116 Aquidneck Avenue, Middletown, RI 02842 (MLS# 1401255) is a Manufacturing property. 116 Aquidneck Avenue is currently listed for $3,999,000 and was received on December 08, 2025. Want to learn more about 116 Aquidneck Avenue? Do you have questions about finding other Manufacturing real estate for sale in Middletown? You can browse all Middletown real estate or contact a Coldwell Banker agent to request more information.

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