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$2,800,000
Est. payment /mo
0.4 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Broadway
MLS Listing ID 1404255
HOA Y/N No
Year Built 1900
Annual Tax Amount $10,944
Tax Year 2025
Lot Size 0.400 Acres
Acres 0.4
Property Sub-Type Commercial
Property Description
An exceptionally rare development opportunity in the heart of downtown Newport. This premier parcel sits in the General Business Zone and is being sold with approvals in place for a Vacation Guest Facility, a designation that is increasingly difficult to secure in today's regulatory environment. The offering includes city approvals, engineering plans and architectural designs. The approved project features 11 residential units across the second, third, and fourth floors, including nine, two-bedroom, two-and-a-half-bath units and two, one-bedroom, one-and-a-half-bath units, all designed to support high-quality short-term and vacation rentals. The ground level is planned for retail use, creating an ideal mixed-use asset that enhances both guest experience and long-term value. The property also includes 23 on-site parking spaces, a major advantage in downtown Newport. This is a unique opportunity to develop and operate a professionally managed short-term rental or boutique vacation facility in one of the most supply constrained markets in New England. With new short-term rental approvals becoming increasingly rare, this project offers a clear path to scale in a market defined by strong seasonal demand, premium nightly rates, and limited competition. Guests can step out the front door and be fully immersed in downtown Newport, surrounded by renowned restaurants, shops, and marinas, while enjoying walkable access to everything that makes the city a world-class destination.
Location
State RI
County Newport
Community Broadway
Zoning GB
Exterior
Community Features Sidewalks
Utilities Available Natural Gas Available, Municipal Utilities, Water Connected, Sewer Not Available, Water Available
Street Surface Paved
Total Parking Spaces 23
Building
Lot Description Corner Lot
Sewer None
Water Public
New Construction No
Others
Tax ID 105BROADWAYNEWP
Virtual Tour https://tour.RiLiving.com/105-Broadway-Newport-RI-02840
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