28 Pelham StNewport, RI 02840

Property Details for 28 Pelham St

Year built

1900

Construction

FRAME

Lot size

0.12 AC

Property size (Sq ft)

10,850 SF

Zone code

GB

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NEWP M:024 B:0257

APU

NEWPM024B0257

Description

Discover a remarkable three-story office building at 28 Pelham Street in the heart of Newport, Rhode Island. This 10,850 square foot property offers a variety of office spaces to suit diverse business needs, from individual professionals to larger companies. Currently, eight individual office suites are available, ranging in size from 176 to 1,450 square feet. An additional, significant opportunity is coming in October, with up to 4,000 square feet of premium office space becoming available for lease. The building's traditional style is complemented by its adaptable layout, making it suitable for a range of office configurations, including traditional, executive, and creative office spaces. Its location near Bowen's Wharf provides easy access to Newport's vibrant business district and the historic charm of the city. This exceptional property presents a rare chance to establish a presence in one of Newport's most sought-after commercial locations, where the rich history of the city blends seamlessly with a thriving modern business environment. The building is situated in Newport County and offers multiple tenancy options. This is an ideal opportunity for businesses seeking a prestigious address in a dynamic and desirable location. Contact us today to learn more about the available spaces and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $2,790,721

  6.5%

  $2,576,050

  7%

  $2,392,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,572,506

  Geo Method

  $3,572,506

• Alternative Use

  Use

  Valuation

  Residential

  $2,172,994

  Hospitality

  $1,990,451

  Educational

  $1,656,032

  Medical

  $1,712,986

  Retail

  $2,576,050

Location Insight

City

Newport

County

Newport

State

Rhode Island

Latitude

41.4863

Longitude

-71.3138

CBSA code

39300

CBSA name

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

Property Tax & Assessments

FAQs

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