312 Broadway Newport, RI $ 2,850,000
312 Broadway
$ 2,850,000
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312 Broadway

Newport, RI, 02840
$ 2,850,000
Baths0.0 Sq 6,304

Monthly Estimate*

$ 19,908

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Studio

Commercial Property for sale in Newport, RI

for $2,850,000. This 6,304 square foot building was built in 1966 on a lot size of 0.24.

Centrally Located on Broadway. Currently a 100% occupied and has three commercial retail units & eight residential apartments. The building has (3) one bedrooms, (2) three bedrooms, (2) four bedrooms and (1) studio apartment. Rental rates are under market value. Income & Expense figures are based on monthly income & expenses. Updated commercial fire alarm & sprinkler system. All utilities are separate and paid by the Tenants except the city water & sewer. Twelve Off Street Parking Spaces. Recently replaced siding on east side of building. Ideal for a condo conversion.

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Commercial Active

Price

$ 2,850,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 17,317

Style

Commercial

Lot Size

0.24

Year Built

1966

Town/City

Newport

County/Region

Newport

MLS | Web ID

1321953

Features
General
Sewer Connected PublicSewer StormSewer
Heating Baseboard ForcedAir Gas HotWater
Cooling None
Utilities ElectricityAvailable NaturalGasConnected MunicipalUtilities WaterConnected SewerConnected
Possession Immediately Negotiable
Zoning LB
Security Features CarbonMonoxideDetectors FireAlarm FireEscape SmokeDetectors FireSprinklerSystem
Year Built 1966
Electric Item200AmpService CircuitBreakers
Tenant Pays CableTV Electricity Gas Heat HotWater Telephone
Stories 3
Levels ThreeOrMore
Property SubType Commercial
Tax Year 2022
Business Type Mixed Retail
Community Features Marina NearHospital NearSchools PublicTransportation Shopping TennisCourts StreetLights Sidewalks
County Newport
Insurance Expense 650.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Subdivision Name Broadway & Bliss
Possible Use Commercial MixedUse
Garage Y/N N
Status Active
City Newport
Buyer Agent Compensation 2.5% NS
View Y/N N
Senior Community Y/N N
Total Units 2
Lot Size Square Feet 10536.0
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 12
Street Name Broadway
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 17317.0
Electric Expense 65.0
Home Warranty Y/N N
Fuel Expense 0.0
Water Sewer Expense 800.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N Y
Rent Control Y/N N
Days on Market 323
Structure Type MultiFamily
Lease Type Gross
Standard Status Active
Occupancy Description Tenant
Tax Assessed Value 1201800
Tax Lot 152
Ownership Type SoleProprietor
Cap Rate 4.0
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Interior
Basement Full
Furnished Y/N Unfurnished
Total Stories 3
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 6304.0
Electric On Property Y/N N
Total Baths 0
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Exterior
Water Source Connected Public
Total Parking 12.0
Lot Size Area 10536.0
Foundation Details ConcretePerimeter
Number of Buildings 1
Spa N
Building Area Total 6304.0
Lot Size Acres 0.24
Road Surface Type Asphalt Paved
Frontage Length 85
Lot Size Units SquareFeet
Road Frontage Type CityStreet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 312
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* Excluded Features
List By
Lila Delman Compass

Broker

dave.lawrence@liladelman.com

Email

Affordability Calculator

$21,351
Per Month
93%
7%
0%
Monthly Principal & Interest
$19,908
Monthly Property Taxes
$1,443
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
248553 Elementary School
248554 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/12/2022$2,850,000 Listed Price

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312 Broadway, Newport, RI, 02840 is a Commercial Property for sale at $2,850,000 with 6,304 sqft and a lot size of 0.24. 312 Broadway is a studio with 0.0 baths and was built in 1966. The property's zip code is 02840 which is in Newport, RI