3 Carroll AVE, Newport, RI 02840 – 1380210 - Kathleen Sposato

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Kathleen Sposato

soldwithsposato@gmail.com +1(508) 523-8632

$3,395,000

Est. payment - /mo

6,269 SqFt

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Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 6,269 sqft

Price per Sqft $541

Subdivision Fifth Ward

MLS Listing ID 1380210

HOA Y/N No

Abv Grd Liv Area 6,269

Year Built 1905

Annual Tax Amount $14,134

Tax Year 2024

Lot Size 0.271 Acres

Property Sub-Type Commercial

Property Description

In perfect time to capitalize on the high season, 3 & 7 Carroll Avenue offer a rare opportunity for buyers looking to enter Newport's exclusive commercial mixed-use market zoned Limited Business. Properties like this rarely trade in Newport, especially in such a coveted location with 18 parking spaces and minimal competition. Situated in the heart of the vibrant Fifth Ward neighborhood, this property offers year-round exposure, ensuring steady income potential. Whether you choose to operate a high-end caf or restaurant, capitalize on short-term rentals, or explore redevelopment opportunities, this is an investment poised for long-term success. The buildings are positioned east-facing, allowing beautiful morning light to pour through the storefronts. Upstairs, the two residential units enjoy wonderful natural lighting throughout the day and into the evening, with warm sunsets casting over the back deck. Many upgrades have been made, including a full gut renovation of the third-floor unit, replacement windows, new flooring in the back commercial kitchen, and new exterior siding on the main building in 2024. Being the last commercial spaces before Fort Adams and the Ocean Drive beaches, the 7 Carroll storefront has always served as a haven for consumers looking to avoid the downtown traffic. This property has a lot to offer and is truly a must-see to understand the opportunity.

Location

State RI

County Newport

Community Fifth Ward

Zoning LB

Rooms

Basement Partial

Interior

Heating Baseboard, Hot Water

Cooling Ductless, Window Unit(s)

Inclusions 7 Carroll Ave - All commercial appliances convey. 3 Carroll Ave / Viking cleaners - All laundry done off site at Polo Cleaners.

Furnishings Furnished

Laundry Common Area, In Unit

Exterior

Community Features Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), High Traffic Location, Sidewalks

Utilities Available Other, Sewer Connected

Total Parking Spaces 18

Building

Lot Description Corner Lot

Story 3

Foundation Combination, Concrete Perimeter, Stone

Sewer Connected

Water Connected

Level or Stories 3

Structure Type Brick,Frame

New Construction No

Others

Tax ID 37CARROLLAVNEWP

Security Features Security System,Varies By Unit

Virtual Tour https://tour.RiLiving.com/3-Carroll-Avenue-Newport-RI-02840--1380210

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Listed by Gustave White Sotheby's Realty

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Kathleen Sposato

+1(508) 523-8632

Broker | License ID: 9084437

Broker License ID: 9084437

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3 Carroll AVE Newport, RI 02840

Kathleen Sposato

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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3 Carroll AVE