$1,475,000
$1,450,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
111 Memorial BLVD W Newport, RI 02840
3,752 SqFt
Key Details
Sold Price $1,475,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,752 sqft
Price per Sqft $393
Subdivision Downtown Newport Historic Hill Dist
MLS Listing ID 1329230
Sold Date 11/17/23
HOA Y/N No
Abv Grd Liv Area 3,752
Year Built 1780
Annual Tax Amount $14,010
Tax Year 2022
Lot Size 1,742 Sqft
Property Description
THE BURBANKROSE GUEST HOUSE, has all the charm and character that Newport is known for. Located in the heart of downtown, this property sits at the corner of Thames Street and Memorial Boulevard, across from the Red Parrot Restaurant. Beyond the location's heavy foot traffic and street visibility, this property is also in a General Business Zone, providing income opportunities for hospitality, retail, office space, and more. Recent updates include a newer heating system, kitchens, windows, and bathrooms. The building is currently operating as an established live-in guest house for the last 22 years. It contains one single-dwelling unit, and a 5-bedroom guest house (including 5 kitchens). The finished lower level includes laundry, cleaning crew facilities and utilities. No flood insurance required, and excellent income history. P&L available upon signing NDA. Would consider 1031 exchange. Buyer to do all due diligence.
Location
State RI
County Newport
Community Downtown Newport Historic Hill Dist
Zoning GB
Rooms
Basement Full
Interior
Cooling 1 Unit, Window Unit(s)
Furnishings Furnished
Laundry Common Area, Laundry Room
Exterior
Community Features Marina, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s), Street Lights, Sidewalks
Utilities Available Cable Available, Electricity Available, Municipal Utilities, Phone Available, Water Connected, Sewer Connected
Amenities Available Restaurant, Tennis Court(s)
Building
Story 3
Foundation Combination
Sewer Connected, Public Sewer, Sanitary, Storm Sewer
Water Connected, Public
Level or Stories 3
New Construction No
Others
Tax ID 111MEMORIALBLVDNEWP
Security Features Carbon Monoxide Detector(s),Fire Alarm,Smoke Detector(s)
Financing FHA,Other,VA
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Bought with CR Premier Properties LLC