Parentes Restuarant 2 Properties Offered at $1,575,000 in Smithfield, RI

This is an incredible opportunity to acquire a landmark restaurant situated on over four acres of prime land adjacent to Bryant University in Smithfield, Rhode Island. This well-established eatery has been delighting patrons with its pub-style fare for 42 years, and the current owners are ready to retire. This offers a passionate entrepreneur the chance to take the reins and cater to the next generation of food enthusiasts.

The sale includes the existing restaurant building with over 4 acres of land and all furniture, fixtures, and equipment. It also includes the transfer of all necessary licenses, with a full Class B liquor license, enabling the business to operate in its current format. Under these licenses, the establishment can serve customers seven days a week from 8 AM to 1 AM, allowing for a wide range of dining options.

With a seating capacity of 194, guests can enjoy their meals indoors or on the recently added outdoor deck. The restaurant benefits from being close to Bryant University, which has around 4,000 students and staff. The property is also across from the Rhode Island campus of Fidelity Investments, designed to accommodate approximately 2,000 employees.

This area of Smithfield is on the cusp of significant growth, with numerous companies emerging along Route 116 and Route 7 (Douglas Pike). Beyond the existing business opportunities, the property is located in a planned development zone that may allow for the construction of four luxury townhouse units, subject to town and state permitting.

In real estate, the mantra is location, location, location. This is a premier site that rarely becomes available. A savvy and experienced restaurateur will recognize the potential for transformation to accommodate a variety of culinary concepts. The right concept could lead to immediate success and even global recognition.

Whether you're looking to expand your current operation or launch a new dining experience, this trophy location is one you won't want to miss. Act quickly to schedule your private showing! Please keep in mind that for confidentiality, if you visit the restaurant, we ask that you not engage with employees or customers. Interested parties will be facilitated with a meeting with the owners. Thank you for your understanding.

Freestanding street-level building with an outside deck, full basement, a loading platform, and parking for 125 vehicles. The total usable square footage is approximately 6,209 square feet. The kitchen is designed to handle almost any type of food service, and there is a substantial amount of storage in the lower level and outside storage shed. The building is serviced by public water and sewers and a 400-amp, 3-phase electrical service. Interior seating is designed for 139 patrons, including a separate bar area, while the outside deck can accommodate approximately 55 patrons.

See the attached conceptual plan that shows four luxury townhouse condos. Town and state permits would be required.