Prime Commercial Tradesmen Condominium Unit for Sale within The Newport County Tradesmen's Center Condominium, strategically positioned just off the Newport Bridge north of Downtown Newport in Rhode Island. This offering includes three contiguous units, totaling 2, 841 square feet of tradesmen space. The unit features two overhead garage doors, a lofted area, one half bath with laundry, and six dedicated parking spaces catering to the diverse needs of commercial tradesmen. The unit currently had raised wooden flooring throughout that can easily be removed if concrete is preferred. The well-run condominium association ensures smooth operations, and there are no upcoming or outstanding assessments, highlighting the financial health of the association. This property presents a unique possibility for conversion into smaller units, providing flexibility to meet varying business requirements. The Newport County Tradesmen's Center Condominium is situated in a dynamic location, offering proximity to Downtown Newport, all of Aquidneck island, and easy access to the West Bay. Whether you're seeking a strategic business location or a solid investment opportunity, this commercial unit delivers on both fronts. Don't miss your chance to own a piece of prime real estate in this thriving commercial hub.
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Our Executive Mortgage Banker:
Our Insurance Division:
$860,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $688,000 | $688,000 | $688,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.375% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.229% | 6.486% | 6.307% |
Monthly Tax Payment | $491 | $491 | $491 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,961 | $4,292 | $5,852 |
Total Monthly Payment | $4,544 | $4,875 | $6,435 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.