Rare Development Opportunity
in Historic Downtown Newport

Newport, RI is a globally recognized seaport known for its thriving coastal community, world-class sailing and rich maritime history. For over 50 years, Newport was the home of the America's Cup. Last summer the city hosted the new America's Cup World Series, which is sailed in 45-foot catamarans along the waterfront providing exciting fleet-race action drawing over 65,000 people from all over the world. Most recently, Newport was named as the only North American stop in the upcoming Volvo Ocean Race, an around-the-world race sailed in 65-foot one-design boats. These events are great news for businesses and residents of Newport as these large-scale sailing events draw impressive numbers of visitors for weeks at a time. Not only is Newport an unmatched maritime locale with a handful of great surf spots, but also the city is renowned for its exhibits and events like the International Tennis Hall of Fame, the Jazz and Folk Festivals, the Polo and Coaching events and its amazing architectural assets.

 

Newport Waterfront Business District Development Opportunity

LandVest is offering a vacant mixed-use development site with sweeping westerly views of Newport Harbor, Fort Adams, Jamestown, and Narragansett Bay. The offered property is located less than 10 feet from the waterfront of Newport Harbor. Separated from the waterfront only by a private marina, this site could be enhanced by the purchase of nine 40 to 50 deep-water slips, owned by the Seller and available separately. The property is generously sized at more than of an acre (33,198 sq. ft.) with access from Lees Wharf on the north side of the property. The site is zoned Waterfront Business with the potential to develop approximately 40,000 square feet of mixed-use space with parking below (33,198 sq. ft. x 0.40 lot area coverage x 3 floors). This is the only vacant site of its size currently available in the Waterfront Business District of the downtown Newport market. The offered property has highly-desirable two-way access to Thames Street and Bellevue Avenue, Newports main thoroughfares, and historic downtown district. Whether as a mixed-use development, condo association, family compound, or single-family residential project, the offered property is an exceptional opportunity.

Click here for information on Lees Wharf or contact Terry Boyle at tboyle@landvest.com.

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