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$3,495,000
8 Days On Site

3 7 Carroll Avenue
Newport, RI 02840

For Sale|Multi Family|Active
6
Beds
4
Full Baths
3
Partial Baths
6,269
SqFt
$558
/SqFt
1905
Built
Subdivision:
Fifth Ward
County:
Newport
3 7 Carroll Avenue3 7 Carroll Avenue3 7 Carroll Avenue3 7 Carroll Avenue
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Monthly Payment (Est.)

$15,946
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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.

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Listing Snapshot
Price 
$3,495,000
Days On Site 
8 Days
Bedrooms 
6
Inside Area (SqFt) 
6,269 sqft
Total Baths 
7
Full Baths 
4
Partial Baths 
3
Lot Size 
0.2712 Acres
Year Built 
1905
MLS® Number 
1379788
Status 
Active
Property Tax 
$14,134
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a week agoListing updated with changes from the MLS®
a week agoListing first seen on site
General Features
Acres 
0.2712
Foundation 
CombinationConcrete PerimeterStone
Number Of Stories 
3
Parking 
No Garage
Parking Spaces 
18
Property Sub Type 
Multi Family
SqFt Above 
6269
SqFt Total 
6269
Stories 
One
Utilities 
Sewer Connected
Interior Features
Appliances 
DryerDishwasherExhaust FanMicrowaveOvenRangeRefrigeratorRange HoodWater HeaterWasher
Basement 
FullInterior EntryUnfinished
Cooling 
DuctlessWindow Unit(s)
Electric 
Generator
Flooring 
Ceramic TileHardwood
Furnished 
Furnished
Heating 
BaseboardElectricHot WaterOil
Interior 
Cathedral Ceiling(s)High CeilingsVaulted Ceiling(s)
Laundry Features 
Laundry RoomIn Unit
Window Features 
Skylight(s)
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Exterior Features
Construction Details 
BrickShingle SidingVinyl Siding
Lot Features 
Corner Lot
Patio And Porch 
Deck
Windows/Doors 
Skylight(s)
Community Features
Accessibility Features 
Accessible EntranceAccessible Approach with Ramp
Community Features 
GolfRestaurantTennis Court(s)
Listing courtesy of Rhys Huntley of Gustave White Sotheby's Realty 4018621988



Listing information is provided by Participants of the State-Wide MLS of Rhode Island, Inc. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025, State-Wide MLS of Rhode Island, Inc.
Last checked: 2025-04-03 02:51 AM UTC

Neighborhood & Commute
Source: Walkscore
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