NEWPORT – A buildable lot in the city marked by rolling hills and large rock formations, located near Ocean Hour Farm and Rogers High School, recently sold for nearly $4 million, according to Lila Delman Compass, which represented the seller in the deal.
The elevated 38 Beacon Hill Road property located in a residential zone spans 4 acres and was marketed as a rare buildable lot in Newport.
“Buildable properties of this size and caliber are rare in Newport,” said Eric Kirton, associate broker for Lila Delman Compass, who represented the seller in the deal.
The sale of 38 Beacon Hill Road was the most expensive vacant land sale in Newport since June last year, when the 26.75-acre 339 Ocean Avenue Lot A sold for $11 million, which set a record for the highest-ever land sale in Newport County.
The site, which spans more than 170,000 square feet, offers a view of Brenton Cove in the distance.
The land was most recently valued in fiscal year 2022 by Newport assessors as being worth $1.3 million, according to the city’s online property tax evaluation database.
The empty property was sold by Beacon Hill Road LLC, a limited liability company based in Newport, according to a copy of the warranty deed, a public record documenting the sale. The land was purchased by the similarly named 39 Beacon Hill LLC, a limited liability company established this year in Providence, according to the deed.
Marc Larocque is a PBN contributing writer.
