Let at £27,850 per annum, the building fetched £250,000 at the sale, representing a gross rental yield of just over 11 per cent.
Joint auctioneers were Scotcher & Co.
A lock-up retail unit on the ground floor, which trades as a hair and beauty salon, under a commercial lease, is complemented by studio flats on the first and second floors.
A property sold in Ryde High Street (Image: Clive Emson)
Land in Cowes has sold at auction (Image: Clive Emson)
Meanwhile, at 2 Kent Road, Ventnor, a three/four-bedroom town centre house, with a freehold guide price of at least £140,000, was sold prior to auction.
Joint auctioneers were Hose Rhodes Dickson.
In Cowes, 0.67 acres of freehold land, east of Woodvale Road, Cowes, nearly doubled its guide price and sold for £47,500.
Joint auctioneers for the sale were BCM.
The next auction, ends on June 12, with bidding live from June 10.
Lot entries close on May 20, with the catalogue available from May 24.