103-111 Bellevue Avenue
Why We Love it
103-111 Bellevue Avenue, Newport RI, 02840
12 Residential Units | 4 Commercial Units | 14 Space Parking Lot | Full Bev Liquor License
Presenting an exceptional investment opportunity on Newport's prestigious Bellevue Avenue: a 13,719 square foot mixed-use building complemented by a spacious 4,340 square foot parking lot located on neighboring Prospect Hill.
This prime commercial property features 12 well-maintained residential apartments with strong rental history and 4 commercial spaces, including 1 vacant restaurant space (2,000 SqFt, plus an additional 800 SqFt of basement storage). The property includes a valuable full beverage liquor license, providing significant potential for the restaurant space or as an additional asset. The parking lot offers 14 spaces at '0' Prospect Hill, a substantial amenity in Newport.
Situated in a high-traffic area surrounded by upscale establishments, this property presents multiple income streams and development possibilities. Current tenants provide consistent revenue, while the vacant restaurant space offers potential for additional income.
SALE PRICE:
$5,500,000
SALE PRICE:
$5,500,000
BUILDING SIZE:
13,719 SqFt | Above grade living area
4,340 SqFt | 14 Parking spaces
RESIDENTAL LEASE INCOME:
$239,100 Annually
COMMERCIAL LEASE INCOME:
$68,208 Annually *not including vacant restaurant space
TOTAL INCOME:
$301,458
TOTAL EXPENSE:
Please inquire for full package
RENT ROLL:
Please inquire for full rent roll
PROPERTY TYPE:
Mixed use | Residential apartments and commercial spaces
NUMBER OF UNITS:
12 Residential Apartments
4 Commercial Tenants | 1 vacant restaurant space
LIQUOR LICENSE:
Full beverage liquor license included in sale
PARKING:
14 Parking spaces in Prospect Hill, separate lot
ZONING:
GB | General Business
YEAR BUILT:
1900
PLAT / LOT:
28 / 22
FRONTAGE:
Located on bustling Bellevue Avenue