MIDDLETOWN – A 25,500-square-foot motel property with 1.53 acres of land recently sold for $4.5 million, according to public records.
Middletown Hospitality Inc., which has owned the property since 2020, sold the 1359 West Main Road motel to Ganesh Hospitality LLC, a limited liability company based in West Greenwich, according to the warranty deed, a public record of the transaction.
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The property is continuing to operate as the Red Roof Inn & Suites Newport. The Middletown motel is located about 2 miles north of Newport on Route 114.
The 55-unit, two-story building with a brick veneer was constructed in 1984, according to the town’s online property tax evaluation database.
The V-shaped wood-frame building is located in a part of town that’s designated as a general business zoning area, according to the database.
The property was most recently valued by Middletown property assessors in 2023 as being worth $2.95 million, according to the database. Of that, $1 million is attributed to the 1.53 acres of land that the motel building stands on.
The property comes with 30,000 square feet of paved asphalt with six overhead lighting units, according to the database.
Ganesha Hospitality, the new owner of the motel property, established itself in May in Rhode Island, according to articles of organization filed with the R.I. Office of the Secretary of State.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on Twitter @LaRockObama.
