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    221 3Rd St Newport, RI 02840

    Sponsored
    For Lease
    $27 SF/Yr

    Prime Newport Office Space, Multiple Sizes Available

    Lot size:
    27,072 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Admirals Gate, located at 221 Third Street in Newport, Rhode Island, offers exceptional office space in a convenient location. This 27,072 square foot building, constructed in 1988, provides a variety of options for businesses of all sizes. Currently, there are four available suites ranging from 170 to 470 square feet, perfect for traditional office setups, executive offices, or coworking arrangements. The building's strategic location just north of downtown Newport, near the Jamestown Bridge and minutes from the Naval Base, ensures easy access for employees and clients. Ample on-site parking is a significant advantage. A key benefit is the inclusion of all utilities (electricity, heat, air conditioning, and water) within the rental cost, simplifying budgeting for tenants. Tenants are solely responsible for their phone and internet services. Floor plans and detailed information on current availability are readily accessible. The building is well-suited for businesses seeking a blend of convenience, accessibility, and cost-effectiveness in a desirable Newport location. This is a multi-tenant building offering a range of office space options to suit diverse business needs.

    Property Features for 221 3Rd St

    General Information

    Property type
    Coworking space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    27,072 SF
    Total Rate
    61611.36

    Building Details

    Year Built
    1988

    Unit(s) available at that property

    Space
    Suite 303
    Size
    170 SF
    Rate per SF
    $33
    Space
    Suite 405
    Size
    315 SF
    Rate per SF
    $27
    Space
    Suite 404
    Size
    224 SF
    Rate per SF
    $28
    Space
    Suite 508
    Size
    470 SF
    Rate per SF
    $27

    HighLights

    • 27,072 square foot office building.
    • Multiple tenancies available.
    • Traditional office, executive office, and coworking spaces available.
    • Four spaces currently available, ranging from 170 to 470 square feet.
    • Built in 1988.
    • Ample on‑site parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coworking space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.31926959
    Latitude
    41.50677002

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    FAQs

    What type of property is this?
    Coworking space - Prime Newport Office Space, Multiple Sizes Available
    Where is this coworking space located?
    The property is located at 221 3Rd St Newport, RI.
    What is the lease rate?
    The lease rate is $27-$33 SF/Yr.
    What are key features of this property?
    This property features: 27,072 square foot office building.; Multiple tenancies available.; Traditional office, executive office, and coworking spaces available.
    Request Owner's contact information
    221 3Rd St Newport, RI 02840
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    Newport, RI 02840
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    221 3Rd St Newport, RI 02840
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