18 Sheffield AveNewport, RI 02840

Property Details for 18 Sheffield Ave

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.30 AC

Property size (Sq ft)

5,975 SF

Zone code

R10

Property type

Investment properties

Property subtype

Live-work space

APN

NEWP M:010 B:0185

APU

NEWPM010B0185

Description

This stunning Newport, RI mixed-use property, located at 18 Sheffield Ave, offers a unique blend of residential and commercial space. The 5,975 square foot building, constructed in 1948 and renovated in 2003, sits on a 2.16-acre lot and is zoned R-10. The upper floors comprise a spacious 5-bedroom, 2.5-bathroom residential unit featuring wide oak floors, ornate details, high ceilings, a marble fireplace, and a dry bar. Modern amenities include in-unit laundry and elevator access. A large dry basement provides ample storage. The exterior boasts a private, bamboo-lined yard. The first floor offers 2,625 square feet of versatile commercial space, perfect for various business ventures. Thirteen parking spaces are available. This property presents an exceptional live-work opportunity or a strong investment prospect, combining the comfort of a luxurious home with the potential for substantial commercial income. The asking price is $2,100,000. This is a rare opportunity to acquire a meticulously maintained property in a desirable Newport location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,126,250

  6.5%

  $1,039,620

  7%

  $965,357

• Comparable approach

  Method

  Valuation

  Relative Method

  $796,307

  Geo Method

  $796,307

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,034,600

  Retail / Commercial

  $1,043,330

  Hospitality / Lodging

  $762,732

  Office

  $1,033,440

  Institutional / Educational

  $1,080,780

  Residential Income

  $1,264,510

  Multifamily

  $1,516,590

  Automotive / Energy

  $926,383

  Parking / Income-Based Land

  $319,684

  Restaurant / Food Service

  $540,712

  Healthcare / Senior Housing

  $1,066,110

Location Insight

City

Newport

County

Newport

State

Rhode Island

Latitude

41.5022

Longitude

-71.3112

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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