Commercial,Commercial Sale at 501 Park Avenue, Portsmouth
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$849,900

501 Park Avenue
Portsmouth, RI 02871
Listed by Doug Jeffrey
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1950

About this home

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.

Property details

MLS #
1366544
Property type
Commercial,Commercial Sale
Subdivision
N/A
Status
Active
Days on market
684
On market date
August 19, 2024
Stories
1
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
24
Lot size
15,000 sqft
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
Fort Barton School
0.91 mi away · Grades 0-4
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
202
Student:teacher ratio
14.4:1
District
Tiverton
Middle
Tiverton Middle School
3.52 mi away · Grades 5-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
503
Student:teacher ratio
10.7:1
District
Tiverton
High
Portsmouth High School
1.38 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
824
Student:teacher ratio
11.8:1
District
Portsmouth

Walkability

Blended score for Portsmouth's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

49
Somewhat walkable
out of 100
EPA National Walkability Index
7.3 / 20 -- Below average walkable
Google Places amenity density
68 / 100
Restaurants & cafes11
Grocery stores1
Parks5
Schools1
Transit stops8
Pharmacies1

Market position

How this listing compares to current activity in Portsmouth, from live MLS data.

On the market 684 days -- 609 more days than Portsmouth's current average of 75 days.
For reference, the median list price across 241 active listings in Portsmouth right now is $749,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Adjust tax / insurance estimates
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Est. monthly payment
$5,268/mo
$169,980 down
$679,920 loan
Principal & interest$4,410
Property tax (est.)$708
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated July 9, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.