Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,350,000
Office Spaces
117 Bellevue Ave Newport, RI 02840-7439
Entity Owned
2-yr Hold
Free & Clear
Property ID
US76-0159039
Property summary
AI-generated overview
This exceptional Newport, Rhode Island office space at 117 Bellevue Avenue offers two available suites, perfect for a variety of professional needs. Each suite ranges from 200 to 300 square feet, ideal for entrepreneurs, remote workers seeking a professional environment, or solo practitioners. The building offers a traditional office layout, blending seamlessly with executive and creative office styles. The property is conveniently located at 117 Bellevue Avenue, Newport, RI 02840 (41.4843627, -71.3088253). Tenancy is multiple, meaning you'll be part of a vibrant business community. Utilities are included in the rent
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1900
Construction
FRAME
Total area
7,638 SF
Zoning code
GB
APN
NEWP M:028 B:0155 L:1
UPID
US76-0159039
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.20M
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.35M
Owner & transaction history
Chestnut Partners LLC · 2 yrs held
Chestnut Partners LLC
since 2024
4 recorded transactions
Zoning & alternative use
GB · Newport, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,300,000
6.5%
$1,200,000
7%
$1,115,000
Blend value · Realmo final
$1.35M
Range $1.22M – $1.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$177 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$18,024
Tax year 2023
Assessed value
$1,211,300
Assessed 2023
Previous assessed
$1,211,300
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed improvement
$1,211,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
10
Bathrooms
5
Total area
7,638 SF
Zoning code
GB
APN
NEWP M:028 B:0155 L:1
UPID
US76-0159039
Jurisdiction
NEWPORT
Zoning & alternative use
GB · Newport, RI
Zoning GB · permitted uses
GB · Newport, RI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
10
Bathrooms
5
Current owner
From public records · entity-resolved
Chestnut Partners LLC
Entity
Free & Clear · 2 yrs held
Mailing address
128 CARROLL AVE, NEWPORT, RI 02840-4328
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2024
—
Chestnut Partners LLC
Chestnut Partners
Warranty Deed
—
Mar 13, 2023
$2,750,000
Chestnut Partners
Gilded Age Properties LLC
Deed
—
Nov 15, 2013
—
Gilded Age Properties LLC
—
Deed Of Trust
related
$712,500 · Webster Bank
Sep 27, 2011
$835,000
Gilded Age Properties
Bellevue Avenue Holdings
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 117 Bellevue Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
