fbpx

3 - 7 Carroll Avenue Newport

$3,495,000
6 5.5 6,269 sq ft

The Property

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. 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 café 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 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.

Read more

Contact Associate

Listing Details

MLS Number

1379788

Lot Size:

0.27 acres

Features

  • Basement: Full, Interior Only, Unfinished, Storage Space, Utility
  • Bus
  • Commuter Bus
  • Golf
  • Highway Access
  • Hospital
  • Marina
  • Private School
  • Public School
  • Recreational Facilities
  • Restaurants
  • Schools
  • Shopping
  • Near Swimming
  • Tennis
  • Deck
  • Heating: Electric, Oil, Baseboard, Forced Water
  • Heating Fuel: Electric, Oil, Baseboard, Forced Water
  • Garage: 1
  • Laundry
  • Corner Lot
  • Year Built: 1905
  • Water Amenities: Walk to Salt Water, Walk To Water

See more features

Market Trends for Multi Family
in Newport

  • Overview
    Homes for Sale Today11-73.8% decrease in inventory
    New on Market *6500% increase in new listings
    Avg. Asking Price/Sq.Ft. *$600.60$194 decrease in List Price/Sq.Ft.
    Avg. Sale Price *$1,677,625$552,625 increase in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *90.00%-5.4% decrease in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$399.65$147 increase in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *5618 decrease in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

    Contact Us

    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Gustave White Sotheby's Realty

Similar Listings

Exclusively From Us To You

We invite you to join our exquisite collection of properties, latest news and events.

Thank you for subscribing!