Commercial at 138 Spring Street UNIT 1, Newport
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$470,000

138 Spring Street UNIT 1
Newport, RI 02840
Listed by Newport Living Group
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1900

About this home

This unbeatable retail opportunity is perfectly positioned directly across from Trinity Church and Queen Anne Square on Spring Street, one of Newport's primary thoroughfares. Boasting exceptional drive-by exposure and high foot traffic, the two-level space has been transformed by a comprehensive interior renovation. Large windows flood the floor plan with natural light, highlighting newly redone floors, updated light fixtures, and a brand-new air conditioning systems. The space is now fully equipped for modern operations with an updated bathroom and the addition of a sleek kitchenette featuring a refrigerator, wine refrigerator, microwave, sink, and custom adjustable storage. Complemented by a rear storage/workroom and a recent exterior refresh, this turnkey property is ready for immediate occupancy, allowing you to hit the ground running just in time for the lucrative summer and fall seasons.

Property details

MLS
Rhode Island Association of REALTORS
MLS #
1418048
Property type
Commercial
Subdivision
N/A
Status
Active
Days on market
147
On market date
April 27, 2026
Stories
1
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
N/A
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Claiborne Pell Elementary
1.5 mi away · Grades -1-4
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
744
Student:teacher ratio
10.9:1
District
Newport
Middle
Frank E. Thompson Middle
0.32 mi away · Grades 5-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
565
Student:teacher ratio
9.7:1
District
Newport
High
Rogers High School
1.37 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
639
Student:teacher ratio
11.4:1
District
Newport

Walkability

Blended score for Newport's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

93
Highly walkable
out of 100
EPA National Walkability Index
17.7 / 20 -- Most walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores9
Parks20
Schools11
Transit stops20
Pharmacies2

Market position

How this listing compares to current activity in Newport, from live MLS data.

On the market 147 days -- 72 more days than Newport's current average of 75 days.
For reference, the median list price across 824 active listings in Newport right now is $5,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$2,980/mo
$94,000 down
$376,000 loan
Principal & interest$2,439
Property tax (est.)$392
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated September 21, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.