1. Rhode Island
  2. Newport
  3. 7 Carroll Avenue
$2,695,000

7 Carroll Avenue, Newport, RI 02840

  • 5,348 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1905
  • Property Lot Size Icon6,970sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $504/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

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.

Listing Status:
Active
Date Added:
April 18, 2025 at 05:00AM
Listing Office:
Gustave White Sotheby's Realty : 401-849-3000
MLS ID:
1382828
  • Laundry: In Unit
  • Basement: Full
  • A/C: DuctlessWindow Unit(s)
  • Heating: BaseboardCommonHot WaterOther

This listing courtesy of Gustave White Sotheby's Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

F

Frank E. Thompson Middle School

55 Dr Marcus Wheatland Blvd, Newport, RI, 02840

Grades 5-8

1.34 miles away

F

Frank E. Thompson Middle School

55 Dr Marcus Wheatland Blvd, Newport, RI, 02840

Grades 5-8

1.34 miles away

N

Newport Area Career Tech Center

15 Wickham Rd, Newport, RI, 02840

Grades 9-12

0.46 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.