We present new observational results that conclude that the nearby radio galaxy B2 0722+30 is one of the very few known disc galaxies in the low-redshift Universe that host a classical double-lobed radio source. In this paper, we use H i observations, deep optical imaging, stellar population synthesis modelling and emission-line diagnostics to study the host galaxy, classify the active galactic nucleus (AGN) and investigate environmental properties under which a radio-loud AGN can occur in this system. Typical for spiral galaxies, B2 0722+30 has a regularly rotating gaseous disc throughout which star formation occurs. Dust heating by the ongoing star formation is likely responsible for the high infrared luminosity of the system. The optical emission-line properties of the central region identify a Low Ionization Nuclear Emission-line Region (LINER)-type nucleus with a relatively low [O iii] luminosity, in particular when compared with the total power of the Fanaroff & Riley type-I radio source that is present in this system. This classifies B2 0722+30 as a classical radio galaxy rather than a typical Seyfert galaxy. The environment of B2 0722+30 is extremely H i-rich, with several nearby interacting galaxies. We argue that a gas-rich interaction involving B2 0722+30 is a likely cause for the triggering of the radio AGN and/or the fact that the radio source managed to escape the optical boundaries of the host galaxy.