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$2,800,000
Est. payment /mo
0.32 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1404322
HOA Y/N No
Annual Tax Amount $10,944
Tax Year 2025
Lot Size 0.320 Acres
Acres 0.32
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
Zoning GB
Exterior
Utilities Available Natural Gas Available, Municipal Utilities, Water Connected, Water Available
Topography Level
Building
Lot Description Level
Water Public
Others
Tax ID 105BROADWAYNEWP
Virtual Tour https://tour.RiLiving.com/105-Broadway-Newport-RI-02840--1404322
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