Teri Degnan has listed The Fifth Element, a popular bar and restaurant, and its adjacent property in Newport, Rhode Island. Not only is this commercial property located on Newport's restaurant row, but it has already been approved for construction of a 40-room luxury boutique hotel. The permits include demo, foundation, building and utilities, which have been secured over the past three years and remain in place. Preliminary design and development plans are also available.
More information about this unique opportunity and an interview with the current owners can be found here. If you're interested in learning more about this commercial listing click here or contact Teri Degnan.