NEWPORT – A mixed-use building on popular Thames Street in Newport sold recently for $1.9 million, according to a news release.
The building, at 429-431 Thames St., represented the highest commercial sale in the City by the Sea since 2015. It was the second commercial sale exceeding $1 million this year, according to Lila Delman Real Estate International, which handled the transaction.
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The sale closed on May 3.
The building has units that include retail shops, a small, one-bedroom apartment and a two-story penthouse with sunset and harbor views. The property overall includes two retail spaces and five residential units.
According to the buyer’s agent, sales associate Annie Becker, residential and mixed-use buildings in the commercial areas of Newport have increased interest among investors.
“Investors are especially interested in properties in areas that have potential for short-term rentals,” she said.
Mary MacDonald is a PBN staff writer.
