3 Carroll AVE Active Save Request In-Person Tour Request Virtual Tour
Newport,RI 02840
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,269 sqft
Price per Sqft $541
Subdivision Fifth Ward
MLS Listing ID 1379788
Bedrooms 6
Full Baths 4
Half Baths 3
Year Built 1905
Annual Tax Amount $14,134
Tax Year 2024
Lot Size 0.271 Acres
Property Sub-Type Multi Family
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 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
Interior
Heating Baseboard,Electric,Hot Water,Oil
Cooling Ductless,Window Unit(s)
Flooring Ceramic Tile,Hardwood
Inclusions 7 Carroll Ave - All commercial appliances convey. 3 Carroll Ave / Viking cleaners - All laundry done off site at Polo Cleaners.
Laundry In Unit
Exterior
Exterior Feature Deck
Community Features Golf,Highway Access,Marina,Near Hospital,Near Schools,Public Transportation,Recreation Area,Restaurant,Shopping,Tennis Court(s)
Utilities Available Sewer Connected
Waterfront Description Walk to Water
Building
Lot Description Corner Lot
Story One
Foundation Combination,Concrete Perimeter,Stone
Sewer Connected
Water Connected
Structure Type Drywall,Brick,Shingle Siding,Vinyl Siding
New Construction No
Others
Virtual Tour https://tour.RiLiving.com/3-Carroll-Avenue-Newport-RI-02840