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    Corner Storefront with Full Basement Title is generated by Realmo AI

    217 Goddard Row, Newport, RI 02840

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    Street-level corner storefront with rear access, a full basement, and one designated parking space.

    Type:Retail, Office
    Property size:
    922 SF
    Price / SF:
    $542/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 5:19 am

    Property Features for 217 Goddard Row

    General Information

    Standard status
    Active
    Size
    922 SF
    Property subtype
    Retail, Office

    We can help!

    Listing Contact
    Mike Navoian

    Listing agent Mike Navoian License #REC.0017259

    Listing office Weichert Realtors Atlantic Properties

    Listing date Jun 2, 2026

    Source Crexi

    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 Weichert Realtors Atlantic Properties

    HighLights

    • Street‑level corner unit in Brick Market Place at 217 Goddard Row with frontage on Goddard Row plus rear access from Swans Row
    • 922 sq. ft. open floor plan plus a full basement of equal size, ready to tailor to your business needs
    • One secure, designated parking space included
    • Condo fees are $712.47/month, with additional Brick Market Merchant Association fee of $106.01/month and taxes of $184/month (2025)
    • Located adjacent to public parking and across from Perrotti Park; 63 cruise ships scheduled between April and November

    Overview

    Located in Brick Market Place at street level, this high-visibility corner storefront offers a front entrance on Goddard Row and rear access from Swans Row. The unit features an open floor plan of 922 square feet, along with a full basement of equal size that can be finished or used to support day-to-day operations. The property is part of a mixed-use condominium building with 25 retail and office condominiums at street level and residential units above.

    Public remarks describe the storefront as adjacent to public parking and across from Perrotti Park, with the noted presence of scheduled cruise ships from April through November. The same remarks cite especially active tourism months in September and October. For 2025, the provided information includes monthly taxes of $184, a condo fee of $712.47, and a Brick Market Merchant Association fee of $106.01 that supports marketing and events.

    With a street-facing presence and flexible interior layout, the space may suit a range of retail or office users looking to operate from a year-round destination. The building’s ongoing mix of local shops, restaurants, and event activity is positioned to support steady walk-in traffic for businesses that benefit from a high-visibility, mixed-use setting.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Floralia Newport — 99 Spring St, Newport, RI 02840
    • Fleur Soiree — 50 Friendship St, Newport, RI 02840
    • The Water's Edge Flowers — 212 Broadway, Newport, RI 02840
    • Greenlion — 174 Bellevue Ave #220, Newport, RI 02840
    • Broadway Florist — 12 Corne St, Newport, RI 02840

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.3156711
    Latitude
    41.4889962

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    FAQs

    What type of property is this?
    Storefront property - Street-level corner storefront with rear access, a full basement, and one designated parking space.
    Where is this storefront property located?
    The property is located at 217 Goddard Row Newport, RI.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Street‑level corner unit in Brick Market Place at 217 Goddard Row with frontage on Goddard Row plus rear access from Swans Row; 922 sq. ft. open floor plan plus a full basement of equal size, ready to tailor to your business needs; One secure, designated parking space included
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Navoian
    Real Estate License ID: REC.0017259
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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