18 Sheffield AveNewport, RI 02840

  • Mixed-use properties
  • 5,975 SF
For Sale
$2,100,000 View listing

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
Mixed-use properties
Property subtype
Other investment properties
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $987,846
    6.5%
    $911,858
    7%
    $846,725
  • Comparable approach

    Method
    Valuation
    Relative Method
    $780,694
    Geo Method
    $780,694
  • Alternative Use

    Use
    Valuation
    Residential
    $1,130,704
    Hospitality
    $1,035,718
    Educational
    $861,706
    Medical
    $891,341
    Retail
    $1,340,431
18 Sheffield Ave, Newport, Rhode Island

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
-
$197,800
$382,500
$580,300
-
-
-
-

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