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.
For sale
$2,950,000
85 Ocean Ave, Block Island, RI 02807
10beds
4,488sqft
Single Family Residence
Built in 2018
0.69 Acres Lot
$2,731,000 Zestimate®
$657/sqft
$-- HOA
What's special
First-level laundryFlexible three-level configurationThoughtfully renovatedOne larger suiteThree queen guest roomsSecond-level kitchen
- 34 days
- 836
- 24
Zillow last checked:
Listing updated:
Listed by:
Rosemary TOBIN 401-741-1825,
Lila Delman Compass
Source: StateWide MLS RI,MLS#: 1422479
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 10
- Bathrooms: 11
- Full bathrooms: 11
Bathroom
- Features: Bath w Tub & Shower
Heating
- Natural Gas, Forced Air
Cooling
- Wall Unit(s)
Appliances
- Included: Exhaust Fan, Range Hood, Refrigerator, Washer, Gas Water Heater
Features
- Wall (Dry Wall), Wall (Paneled), Stairs, Plumbing (Mixed), Plumbing (PVC), Insulation (Ceiling), Insulation (Walls)
- Flooring: Ceramic Tile, Hardwood, Laminate
- Basement: None
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 4,488
- Total interior livable area: 4,488 sqft
- Finished area above ground: 4,488
- Finished area below ground: 0
Property
Parking
- Total spaces: 12
- Parking features: No Garage
Accessibility
- Accessibility features: Accessible Approach with Ramp
Features
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- Waterfront features: Walk to Salt Water
Lot
- Size: 0.69 Acres
- Features: Local Historic District, Sidewalks
Details
- Parcel number: BLOCM06L00303
- Zoning: SC
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Dry Wall, Paneled, Shingles
- Foundation: Slab
Condition
- New construction: No
- Year built: 2018
Utilities & green energy
- Electric: 200+ Amp Service
- Sewer: Public Sewer
- Water: Municipal
- Utilities for property: Sewer Connected, Water Connected
Community & HOA
Community
- Features: Marina, Restaurants, Near Shopping, Near Swimming
- Security: Security System Owned
- Subdivision: New Harbor - Town
HOA
- Has HOA: No
Location
- Region: Block Island
Financial & listing details
- Price per square foot: $657/sqft
- Tax assessed value: $943,200
- Annual tax amount: $12,030
- Date on market: 9/4/2026
- 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 room revenue of $750, 000 at full occupancy. These projections represent lodging revenue only and do not include potential revenue from extended shoulder-season operation or other business opportunities. All revenue figures are hypothetical projections provided for illustrative purposes only and are not based on historical operating results or a representation or guarantee of future income, occupancy or performance.
Estimated market value
$2,731,000
$2.59M - $2.87M
$2,911/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/29/2026 | Price change | $17,000-15%$4/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/25/2026 | Listed for rent | $20,000$4/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/4/2026 | Listed for sale | $2,950,000+58.2%$657/sqft |
Source:  StateWide MLS RI #1422479 Report a problem | ||
| 3/20/2025 | Sold | $1,865,000-1.6%$416/sqft |
Source: Public Record Report a problem | ||
| 12/24/2024 | Contingent | $1,895,000$422/sqft |
Source: StateWide MLS RI #1354663 Report a problem | ||
| 12/13/2024 | Price change | $1,895,000-9.8%$422/sqft |
Source: StateWide MLS RI #1354663 Report a problem | ||
| 9/12/2024 | Price change | $2,100,000-11.6%$468/sqft |
Source: StateWide MLS RI #1354663 Report a problem | ||
| 3/29/2024 | Listed for sale | $2,375,000$529/sqft |
Source: StateWide MLS RI #1354663 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,206 | $943,200 |
| 2024 | $5,206 -0.6% | $943,200 +27.5% |
| 2023 | $5,239 | $739,920 |
| 2022 | $5,239 +5.7% | $739,920 |
| 2021 | $4,957 +5.3% | $739,920 |
| 2020 | $4,706 +11.2% | $739,920 +7.7% |
| 2019 | $4,233 +117.4% | $687,200 +110% |
| 2018 | $1,947 +36.4% | $327,280 +34.4% |
| 2017 | $1,427 +2.5% | $243,440 |
| 2016 | $1,392 -17% | $243,440 -20% |
| 2015 | $1,677 | $304,300 |
Find assessor info on the county website
Monthly payment
Est. payment
