Remarks

7 Carroll Avenue offer a rare opportunity for buyers looking to enter Newport’s exclusive commercial mixed-use market zoned Limited Business. 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 this is an investment poised for long-term success. The building is positioned east-facing, allowing beautiful morning light to pour through the storefront. 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, new exterior siding to the entire building in 2024, and a brand new flat roof on the front of the building. Being the last commercial building 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.

Details

MLS#: 1382828
Price: $2,695,000

Style: Commercial Sale
Sq Ft: 5348
Year Built: 1905

County: Newport
Subdivision: Fifth Ward
Tax Fee: 9772