3 Carroll Avenue
Newport, RI 02840
- 6 beds
- 7 baths
- 6,269 sqft
- 11,814 sqft lot
- $541 per sqft
- 1905 build
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.
Last checked:
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Last updated Apr 18, 2025
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MLS# 1379788 —
The Building
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Year Built:1905
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New Construction:false
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Building Area Total:6269.0
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Construction Materials:Drywall,Brick,ShingleSiding,VinylSiding
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Foundation Details:Combination,ConcretePerimeter,Stone
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Stories Total:3
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Levels:One
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Basement:Full,InteriorEntry,Unfinished
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Basement:true
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Window Features:Skylights
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Patio And Porch Features:Deck
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Accessibility Features:AccessibleApproachWithRamp
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Exterior Features:Deck
Interior
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Interior Features:CathedralCeilings,HighCeilings,Skylights,StallShower,VaultedCeilings,Furnished,JettedTub
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Flooring:CeramicTile,Hardwood
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Fireplace:false
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Furnished:Furnished
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Laundry Features:InUnit
Room Dimensions
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Living Area Source:PublicRecords
Location
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Latitude:41.472888
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Longitude:-71.314155
The Property
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Lot Features:CornerLot
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Lot Size Acres:0.2712
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Lot Size Area:11814.0
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Lot Size Square Feet:11814.0
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Lot Size Units:SquareFeet
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Parcel Number:37CARROLLAVNEWP
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Zoning:LB
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Land Lease:false
Listing Agent
- Contact info:
- Agent phone:
- (401) 862-1988
- Office phone:
- (401) 849-3000
Taxes
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Tax Year:2024
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Tax Annual Amount:14134.0
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Tax Assessed Value:1351300
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Tax Lot:131/193
Beds
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Bedrooms Total:6
Baths
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Total Baths:7
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Full Baths:4
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Half Baths:3
The Listing
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Virtual Tour URL Unbranded:https://tour.RiLiving.com/3-Carroll-Avenue-Newport-RI-02840
Heating & Cooling
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Heating:Baseboard,Electric,HotWater,Oil
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Heating:true
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Cooling:Ductless,WindowUnits
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Cooling:true
Utilities
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Utilities:SewerConnected
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Electric:Amps100,Amps200OrMore,Generator
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Sewer:Connected
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Water Source:Connected
Appliances
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Appliances:Dryer,Dishwasher,ExhaustFan,Microwave,Oven,Range,Refrigerator,RangeHood,WaterHeater,Washer
The Community
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Subdivision Name:Fifth Ward
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Spa:true
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Senior Community:false
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Community Features:Golf,HighwayAccess,Marina,NearHospital,NearSchools,PublicTransportation,RecreationArea,Restaurant,Shopping,TennisCourts
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Waterfront Features:WalkToWater
Parking
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Parking Total:18.0
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Parking Features:NoGarage
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Garage:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/18/25
Apr 18, 2025
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Price Changed | RIMLS | $3,395,000 | -2.9% |
|
3/25/25
Mar 25, 2025
|
Listed / Active | RIMLS | $3,495,000 |
