$4,500,000
$5,100,000
11.8%For more information regarding the value of a property, please contact us for a free consultation.
105 Broadway Newport, RI 02840
10,719 SqFt
Key Details
Sold Price $4,500,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 10,719 sqft
Price per Sqft $419
Subdivision Broadway
MLS Listing ID 1274714
Sold Date 09/01/21
HOA Y/N No
Abv Grd Liv Area 10,719
Year Built 1940
Annual Tax Amount $19,278
Tax Year 2020
Lot Size 0.400 Acres
Acres 0.4
Property Description
A Unique Opportunity to Own a Block of Newport, RI with frontage on three sides at 105-111 Broadway. Located in the heart of the vibrant & local Broadway neighborhood, this block contains a successful restaurant of 17 years (The Fifth Element) and a fully permitted development opportunity for a 40 room luxury hotel. Zoning, Planning, Utility and City approvals including demo, foundation, building & utility permits have been obtained over the last 3 years and remain in place ready to convey. Preliminary design and development plans are also available. The restaurant has had continued success through constant ingenuity during the Covid crisis with their redesigned interior and newly built outside dining space, The Outer Element. This is a package deal with all the plans to date and a turnkey restaurant including liquor license, inventory, equipment, trademarks, URL's etc.
Location
State RI
County Newport
Community Broadway
Zoning GB
Rooms
Basement None
Interior
Heating Central, Forced Air, Gas
Cooling Central Air
Furnishings Furnished
Exterior
Community Features Sidewalks
Utilities Available Natural Gas Available, Natural Gas Connected, Municipal Utilities, Water Connected, Sewer Connected, Water Available
Street Surface Paved
Total Parking Spaces 43
Garage Yes
Building
Lot Description Corner Lot
Building Description Frame,Masonry, Public Restrooms
Story 2
Foundation Slab
Sewer Connected
Water Connected, Public
Level or Stories 2
Structure Type Frame,Masonry
New Construction No
Others
Tax ID 105BROADWAYNEWP
Financing Conventional
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Bought with Edge Realty RI, LLC