Private School For Sale

Special Purpose for Sale
Catylist Listing ID: 30376045
Property Subtypes: Health Care/Medical, Military Facility, Museum/Gallery, School/University, Senior Housing, Other
Building Size (RSF): 17,108 SF
Gross Building Area: 23,108 SF
Gross Land Area: 201,703 SF
Sale Price: $2,975,000
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 17,108 SF
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 6/23/2019

Overview / Comments

Woven into the residential fabric of Newport's Prestigious Ocean Drive/Beacon Hill area sits a 17,108 Sq. Ft. School along with an approx. 5000 Sq. Ft. Sister School.
Formerly a Pre-K-8 private education facility with 4.63 acres of prime land features a play-ground area, open field for sports and total renovation (2008) including two expansive additions to the main school.
Currently Zoned R-160 and can also be transformed for residential purposes.
Included in this land package are two historic gardener cottages as well as a Carriage house/Barn.
This property is in a Prime Location and is ready to operate as an Educational Facility. Rare opportunity! For Sale Only! See Attachments for permissible land uses.

Additional Details

Nearest MSA: Providence-Warwick
County: Newport
Taxing Authority: City of Newport
Tax ID/APN: school mdl94
Zoning: R160 WITH INSTITUTIONAL OVERLAY
Property Located Between: Beacon Hill and Harrison Ave
Property Visibility: Fair
Largest Nearby Street: Harrison
Feet of Frontage: 658
Traffic/Vehicle Count: 34
Highway Access: 6 miles to rte 138
Airports: PVD
Site Description: 4.63 acres. Main School and sister school on Property. Historic outbuildings (3)
Area Description: High end residential-Critical Area. Bucolic setting. Ocean Drive Local Historic District
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 23,000 SF
Property Condition: Excellent
Year Built: 1957
Year Renovated: 2008
Roof Type: Hip
Construction/Siding: Other
Exterior Description: Blonde Brick School. Sister school , clapboard and wood (second school needs work)
Parking Type: Surface
Parking Description: 34 Spots at Main School
Sprinklers: Wet
Heat Type: Oil, Hot Water
Heat Source: Heat Pump
Air Conditioning: Other
Internet Access: Cable, DSL
Interior Description: Turn Key Main School. WInterized. Sister School needs renovations
Zoning Description: R160 Institutional overlay. Residential local historic district.
Lot Frontage: 658
Lot Depth: varies
Water Service: Municipal
Sewer Type: Storm, Other
Easements: Utilities
Easements Description: National Grid Electric
Land Ownership: owned
Legal Description: plat 43 lot 24

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,359 25,687 44,485
Median Age: 45.37 41.62 41.1
Households: 1,014 11,777 19,035

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