Property for One of Rhode Island's Most Iconic Waterfront Seafood Restaurants Is for Sale

Property for One of Rhode Island's Most Iconic Waterfront Seafood Restaurants Is for Sale

 

If you have always wanted to be the landlord of one of Rhode Island’s most iconic seafood restaurants, the perfect property is now on the market. The waterfront location offers much more and can be transformed.

GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST

Cap’n Jack’s was established in 1972 by Jack Piemonte. It is now run by his wife, Martha Piemonte, and her son, Jack (Jay) Piemonte, and features two restaurants in the same building, Cap’n Jack’s and The Salt Marsh Pub and Raw Bar, marking over 50 years of operation by the Piemonte family.

The family will continue to operate the restaurants.

“The restaurants are not closing. Business will continue as usual until the property is sold. The motivation for selling the property is retirement,” according to Sam Butterfield, the realtor who is exclusively marketing the property.

 

 

Property Contains Much More

The property is not only the home to the two restaurants. It includes much more.

The sale includes a 26-slip marina and a rental beach house.

The total property consists of three lots totaling 2.5 acres. It is zoned CW (commercial waterfront).

"Obviously, new owners could continue the current use or re-development of the property," said Butterfield.

 

 

It is close to East Matunuck Beach, Potter’s Pond, marinas, and the popular Matunuck Oyster Bar.

"[We are] looking at conducting a sealed bid sale at a date to be determined unless an early acceptable offer is proffered.  The property is not being auctioned but rather soliciting proposals," said Butterfield.

The suggested minimum bid is $6,500,000.

 

LEARN MORE ABOUT THE PROPERTY

 

 

Description:

This is a package sale of 3 properties located in the idyllic East Matunuck Beach community. Being sold together is the Rhode Island landmark Cap'n Jack's Restaurant + The Salt Marsh Pub and Raw Bar, along with a 26-slip marina, a beach house, a free-standing garage, a 200+ space parking lot, a small non-developable parcel of land, signage and other improvements.

The Restaurant and Pub have seating for 188 indoors plus 100 outdoors. The main three-parcel properties have a combined total land area of approximately 2.5 acres. This is a fantastic South County location a short distance from East Matunuck Beach, Potter's Pond, and the Matunuck Oyster Bar. The properties are zoned CW (Commercial Waterfront). This is a large parcel that is ideal for current use or re-development.