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Carla Zimmerman

zcarla01@yahoo.com +1(401) 489-8452

$ 2,750,000

Est. payment | -/mo

0.32 Acres Lot

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$ 2,750,000

Est. payment | -/mo

Save Virtual Tour

0.32 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1420183

HOA Y/N No

Annual Tax Amount $10,944

Tax Year 2025

Lot Size 0.320 Acres

Acres 0.32

Property Description

An exceptionally rare development opportunity in the heart of downtown Newport. This premier parcel sits in the General Business Zone and is being sold with approvals in place for a Vacation Guest Facility, a designation that is increasingly difficult to secure in today's regulatory environment. The offering includes city approvals, engineering plans and architectural designs. The approved project features 11 residential units across the second, third, and fourth floors, including nine, two-bedroom, two-and-a-half-bath units and two, one-bedroom, one-and-a-half-bath units, all designed to support high-quality short-term and vacation rentals. The ground level is planned for retail use, creating an ideal mixed-use asset that enhances both guest experience and long-term value. The property also includes 23 on-site parking spaces, a major advantage in downtown Newport. This is a unique opportunity to develop and operate a professionally managed short-term rental or boutique vacation facility in one of the most supply constrained markets in New England. With new short-term rental approvals becoming increasingly rare, this project offers a clear path to scale in a market defined by strong seasonal demand, premium nightly rates, and limited competition. Guests can step out the front door and be fully immersed in downtown Newport, surrounded by renowned restaurants, shops, and marinas, while enjoying walkable access to everything that makes the city a world-class destination.

Location

State RI

County Newport

Zoning GB

Exterior

Community Features Marina, Near Hospital, Near Schools, Pool, Recreation Area, Restaurant, Shopping

Utilities Available Natural Gas Available, Municipal Utilities, Water Connected, Water Available

Topography Level

Building

Lot Description Corner Lot, Level

Water Public

New Construction No

Others

Senior Community No

Tax ID 105BROADWAYNEWP

Virtual Tour https://tour.RiLiving.com/105-Broadway-Newport-RI-02840

Listed by SERHANT.

Schools and Properties Nearby

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+1(401) 489-8452

zcarla01@yahoo.com

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105 Broadway Newport, RI 02840