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Two-Level Retail Space

138 Spring Street #1, Newport, RI 02840

For Sale
$470,000

A renovated storefront pairs display windows with a kitchenette, updated restroom, and rear work and storage area.

Property SizeContact for details
Days on Market200

Property Features for 138 Spring Street #1

General Information

Standard status Active
Property subtype Commercial
Zoning GB

Taxes and HOA fees

Annual Taxes $2,199

Amenities

large windows
newly redone floors
updated light fixtures
brand-new air conditioning systems
updated bathroom
kitchenette
refrigerator
wine refrigerator
microwave
sink
custom adjustable storage
rear storage/workroom

Building Details

Year Built 1900
Buildings 1
Stories 2
Listing Agency: Lila Delman Compass
Listed By: Newport Living Group
Source: Berettarealty
Added: Apr 27 Changed: Nov 4 Last Checked: Nov 12 at 5:40AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lila Delman Compass

Rey
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Investment Insights

Based on property information with market context.

This two-level retail space has undergone interior renovation, with refreshed flooring, updated lighting, and air conditioning. Large windows bring natural light into the space. The layout also includes a bathroom, kitchenette with a refrigerator, wine refrigerator and microwave, plus a rear workroom and storage area. The exterior has received a recent refresh.

The property is on Spring Street in Newport, across from Trinity Church and Queen Anne Square. The street is identified as one of the city's primary thoroughfares. Zoning is GB.

Key Highlights

  • Two‑level retail space with renovated interiors
  • Large windows, updated flooring and lighting, and air conditioning
  • Kitchenette includes a refrigerator, wine refrigerator, microwave, sink, and adjustable storage

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Auto Parts Store Daycare Center Carpet & Flooring Store Pharmacy Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,565
Businesses Nearby
67k
Monthly Visits Nearby

Foot Traffic Nearby

Shops & Services 27% Hotels & Casinos 24% Apparel 22% Dining 17%
Newport Marriott Hotel & Spa Hotels & Casinos
15,983 visits/mo 0.4 miles
Dunkin' Donuts Dining
7,151 visits/mo 0.4 miles
Sephora Beauty & Spa
6,200 visits/mo 0.2 miles
Gap Apparel
6,012 visits/mo 0.2 miles
Citizens Bank Shops & Services
5,610 visits/mo 0.2 miles

Demographics for 02840, RI

23,902
Population
13,515
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,274
Density / Sq Mi
$83,515
Median Household Income
$41,228
Median Earnings
$1,610
Median Rent
$669,500
Median Home Value
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Market

Vacancy Rate% for Retail in Northeast region

6% 2019
7.1% 2020
6.5% 2021
6% 2022
5.7% 2023
5.6% 2024
6% 2025

Frequently Asked Questions

What type of property is this?
Retail space - A renovated storefront pairs display windows with a kitchenette, updated restroom, and rear work and storage area.
Where is this retail space located?
The property is located at 138 Spring Street #1 Newport, RI.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two‑level retail space with renovated interiors; Large windows, updated flooring and lighting, and air conditioning; Kitchenette includes a refrigerator, wine refrigerator, microwave, sink, and adjustable storage
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