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$999,900

  • For Sale
  • Active
  • Commercial Service
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Located near the popular Portsmouth Beaches, this thriving restaurant enjoys a prime location that attracts both locals and visitors year-round. The inviting dining room accommodates over 50 guests, complemented by a full-service bar and a spacious outdoor patio with seating for 30+. Just minutes from Route 24, this well-established venue boasts a loyal customer base and strong financial performance. With potential to expand operating hours and diversify the menu, this restaurant presents a fantastic opportunity for growth and increased revenue.

Full Property Details for 501 Park Ave

General

  • Price: $999,900
  • Taxes: $2,665 (2024)
  • Status: Active
  • Type: Commercial Service
  • Source: STWMLS
  • MLS ID: 1366544
  • Updated: 8/29/2025
  • Added to Site: 522 day(s) ago

Business

  • Name: Graziano's 501 Cafe
  • Business Type: Restaurant

Parking

  • Total Spaces: 24

Location

  • County: Newport

Community

  • Units Assoc/Comm: 1

Utilities

  • Sewer: Septic Tank
  • Water: Connected

Structural Information

  • # Buildings: 1
  • Property Detached: Yes
  • Detached/Attached: Detached
  • Construction: Frame
  • Stories/Levels: 1
  • Building Size: 1449
  • Finished Total: 1,449 Sq. Ft.
  • Finished Above Grnd: 1,449 Sq. Ft.
  • Year Built: 1950

Lot Features

  • Lot Size (Sq. Ft.): 15,000
  • Lot Size: 15000
  • Frontage: City Street

Financial Considerations

  • Tax Amount: $2,665
  • Tax Year: 2024

Disclosures and Reports

  • Documents Avail.: Aerial
  • Property ID: 501PARKAVPORT
  • Lot Number: 160 162

Listed by Broadway Real Estate Group

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Listing agents

— 501 Park Ave —

  • Broadway Real Estate Group

  • Broadway Real Estate Group

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 501 Park Ave

School District:Portsmouth School District, Portsmouth, RI
NameGradesDistance
Portsmouth High School, Portsmouth, RI
120 Education Lane, Portsmouth, RI 02871
9-121.5 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 501 Park Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/29/2025
Price Reduced
$999,900
-16.68%
MLS
8/19/2024
Listed
$1,200,000
—
MLS
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 501 Park Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,361
1%
$177,800
—
2024
$2,343
3%
$177,800
—
2023
$2,272
-13%
$177,800
5%
2022
$2,625
2%
$168,700
—
2021
$2,583
2%
$168,700
—
2020
$2,542
-4%
$168,700
4%
2019
$2,652
3%
$161,700
—
2018
$2,582
4%
$161,700
—
2017
$2,493
6%
$161,700
9%
2016
$2,363
1%
$147,700
—
2015
$2,334
—
$147,700
—
2014
$2,334
-4%
$147,700
-12%
2013
$2,434
—
$167,500
—
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!

with our affiliated lender
NMLS#: 1598647

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Listed by Broadway Real Estate Group

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501 Park Avenue, Portsmouth, RI 02871 (MLS# 1366544) is a Commercial Service property. 501 Park Avenue is currently listed for $999,900 and was received on August 19, 2024. Want to learn more about 501 Park Avenue? Do you have questions about finding other Commercial Service real estate for sale in Portsmouth? You can browse all Portsmouth real estate or contact a Coldwell Banker agent to request more information.

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