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$885,000 Just Listed
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Property Description
THE CROWN JEWEL! 2 Elm Street, Westerly, RI. The most majestic property in Beautiful Downtown Westerly is ready to take on its' next life. Looking down from its' perch at the top of Broad Street, she presides over the entire Town. This will once again be the grand Lady it has been in the past. This opportunity is one of a kind, and can be taken advantage of for a variety of potential usages. A single family residence, office, an Inn, a multi-unit rental property, or an extension of any high end real estate portfolio. Sitting directly next door to the Granite Theatre, you are a stones throw to gorgeous Wilcox Park, and all that Downtown Westerly has to offer. Fine dining, lively Pubs, and beautiful shops abound. Take a stroll to the river or through the Park. Enjoy mornings with coffee and conversation, and happy hour evenings leading to a wonderful dinners downtown. Envision the grand front lawn with a western facing patio, complete with fire pits and gorgeous sitting areas looking over beautiful Downtown Westerly. This restoration is HGTV worthy! The seller is willing to partner with the right group that sees the unreal potential here, or to step aside and allow the next owner to complete their own vision. Public water and sewer are in place, along with natural gas. The lot should be able to sustain an ADU (another 2BR unit) and garage expansion in the rear!! There will never be another 2 Elm Street to duplicate this opportunity for a Downtown home or business opportunity!!
Full Property Details
Full Property Details for 2 Elm St
General
- Price: $885,000
- Taxes: $4,900 (2025)
- Status: Active
- Type: Commercial Residential Facility
- Source: STWMLS
- MLS ID: 1415769
- Updated: 6/30/2026
- Added to Site: 4 day(s) ago
Business
- Business Type: Administrative and Support, Bed & Breakfast, Hotel/M
Additional Information
- Shared Amenities: Business Center
Parking
- Total Spaces: 10
Location
- County: Washington
- Subdivision: Downtown
- Near Highway: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: Baseboard, Steam
Utilities
- Sewer: Connected, Public Sewer
- Water: Public
- Utility Description: Natural Gas Connected, Sewer Connected
Structural Information
- # Buildings: 1
- Structure Type: Apartment
- Detached/Attached: Attached
- Stories/Levels: 3
- Year Built: 1860
Lot Features
- Lot Size (Sq. Ft.): 20,038
- Lot Size: 20038
- Street Lights: Yes
- Sidewalks: Yes
Green Features
- Location: Public Transportation, Walkability
Financial Considerations
- Tax Amount: $4,900
- Tax Year: 2025
- Terms: Investor Financing
Disclosures and Reports
- Documents Avail.: Aerial
- Property ID: 2ELMSTWEST
- Lot Number: 79
Listed by RE/MAX Right Choice
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Schools
Schools serving 2 Elm St
School District:Westerly School District
| Name | Grades | Distance |
|---|---|---|
State Street School 35 State Street, Westerly, RI 02891 | K-4 | 0.8 mi |
Westerly Middle School 10 Sandy Hill Road, Westerly, RI 02891 | 5-8 | 2.9 mi |
Westerly High School 23 Ward Avenue, Westerly, RI 02891 | 9-12 | 0.5 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 2 Elm St
Date
Details
Price
Change
Source
6/30/2026
Listed
$885,000
—
MLS
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
Tax History for 2 Elm St
Year
Property Taxes
Change
Tax Assessment
Change
2025
$4,900
-7%
$629,800
25%
2024
$5,277
3%
$505,000
—
2023
$5,131
1%
$505,000
—
2022
$5,101
12%
$505,000
33%
2021
$4,572
2%
$379,100
—
2020
$4,492
—
$379,100
-1%
2019
$4,481
-1%
$381,700
5%
2018
$4,504
3%
$364,700
—
2017
$4,376
—
$364,700
—
2016
$4,376
—
$364,700
-7%
2015
$4,385
2%
$390,500
—
2014
$4,315
1%
$390,500
—
2013
$4,256
—
$390,500
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 2 Elm St
2 Elm Street, Westerly, RI 02891 (MLS# 1415769) is a Commercial Residential Facility property. 2 Elm Street is currently listed for $885,000 and was received on June 30, 2026. Want to learn more about 2 Elm Street? Do you have questions about finding other Commercial Residential Facility real estate for sale in Westerly? You can browse all Westerly real estate or contact a Coldwell Banker agent to request more information.

