18 Sheffield AveNewport, RI 02840
- Mixed-use properties
- 5,975 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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