551 Thames ST #H3, H4, H5, Newport, RI 02840
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551 Thames ST #H3, H4, H5, Newport, RI 02840
551 Thames ST #H3, H4, H5, Newport, RI 02840
551 Thames ST #H3, H4, H5, Newport, RI 02840
551 Thames ST #H3, H4, H5, Newport, RI 02840
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Caitlin Pannone

Caitlin Pannone

+1(401) 258-3331
$ 55,000,000
Est. payment /mo
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551 Thames ST #H3, H4, H5 Newport, RI 02840

89,653 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 89,653 sqft

Price per Sqft $613

Subdivision Wellington

MLS Listing ID 1415439

HOA Y/N No

Abv Grd Liv Area 89,653

Year Built 1985

Annual Tax Amount $175,859

Tax Year 2026

Lot Size 5.270 Acres

Acres 5.27

Property Sub-Type Commercial

Property Description

Nestled in the corner of Newport Harbor, the Wellington Resort presents one of the city's most significant waterfront investment opportunities. Spanning 5.27 acres in an exceptional harborfront setting, the property combines premier coastal real estate with excellent redevelopment and value-enhancement potential. The unique positioning of the property offers panoramic views of the harbor, Goat Island, the Newport Bridge, and beyond. The location is just steps from Newport's renowned waterfront attractions further distinguishing this landmark asset. The resort currently features 52 spacious, two-bedroom suites each with water views spanning four buildings, complemented by a full suite of resort-style amenities, including indoor and outdoor swimming pools, tennis courts, a fitness center, and 208 on-site parking spaces. Adding to its unique appeal, Newport zoning approved a modification to the existing Special Use Permit, allowing the conversion of the current 52-unit transient guest facility into 152 one-bedroom hotel units. This entitlement creates a rare opportunity to significantly increase density and unlock future development potential in one of Newport's most coveted waterfront locations.

Location

State RI

County Newport

Community Wellington

Zoning WB

Rooms

Basement None

Interior

Cooling Central Air

Laundry Common Area

Exterior

Pool Community, Indoor

Community Features Business Center, Golf, Marina, Near Schools, Pool, Recreation Area, Restaurant, Shopping, Tennis Court(s), Waterfront

Utilities Available Electricity Available, Natural Gas Connected, Sewer Connected

Amenities Available Business Center, Indoor Pool, Pool, Tennis Court(s)

Street Surface Asphalt

Total Parking Spaces 208

Building

Building Description Masonry, Elevator(s)

Story 3

Foundation Slab

Sewer Connected

Water Connected

Level or Stories 3

Structure Type Masonry

New Construction No

Others

Tax ID 551THAMESSTH3,H4,H5NEWP

Security Features Fire Sprinkler System

© 2026 State-Wide Multiple Listing Service. All rights reserved.
Listed by Gustave White Sotheby's Realty

Caitlin Pannone

Caitlin Pannone

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+1(401) 258-3331

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551 Thames ST #H3, H4, H5