Technical
Financial
Distress signals
Property profile

3 Carroll Ave Newport, RI 02840

OFF-MARKET
Showrooms
Property ID
US76-0020210
921 SF 0.11 ac lot Built 1929
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

This mixed-use property is located on two separate lots at 3 and 7 Carroll Avenue in Newport’s Fifth Ward neighborhood and is zoned Limited Business. It includes east-facing buildings with storefronts oriented to receive morning light. The second and third floors contain two residential units with natural lighting and views from a back deck. Building improvements include a full gut renovation of the third-floor unit, window replacements, new flooring in the back commercial kitchen, and new exterior siding on the main building (installed in 2024). The property includes 18 parking spaces and provides approximately 6,269 square feet of living area. It is positioned for commercial activity and has potential for uses such as food and beverage (e.g., a high-end café or restaurant), short-term rentals, or redevelopment.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1929
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 921 SF
Lot 0.11 ac (4,918 SF)
Zoning code LB
APN NEWP M:040 B:0193
UPID US76-0020210

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Car Dealership Shipping Company
  • (Bike/Boat/Book/etc) Store

Location

3 Carroll Ave Newport, RI 02840-4019
Newport metro Census 40900 PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$300k

Owner & transaction history

since 2025
3 recorded transactions
2025
$2.9M
2022
Price N/A
2009
$900,000

Zoning & alternative use

LB · Newport, RI
Zoning description

-20 Residential R-40 District R-40 Residential R-40A District R-40A Residential R-60 District R-60 Residential R-120 District R-120 Residential R-160 District R-160 B. Commercial Districts Code Limited Business District…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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