3 Carroll Avenue

Newport RI 02840

6269 sq. ft.

11814 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

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.

Features

6 bedrooms

7 bathrooms

18 carspaces

6269 sq. ft. floor area

11814 sq. ft. lot size

Multi-Family

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