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    491 Thames St Newport, RI 02840

    Sponsored
    For Sale
    $3,250,000

    COMMERCIAL - Newport, RI

    Type:Apartment
    Lot size:
    0.06 Acres
    Days on Market:
    69
    Last Refresh:
    Jan 5 at 2:06 pm

    Property Features for 491 Thames St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    WB
    Rooms
    Basement
    Parking
    6
    Interior features
    Ceiling Height (7 to 9 Ft), Ceiling Height (9 to 12 Ft)
    Lot size
    0.06 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1850
    Floors in Building
    3
    Number of units
    3
    Building materials
    Frame

    Hogan Associates | Christie's International Real Estate (401) 845-9500 [email protected]

    Listing agent James Manson (401) 862-2741

    Listing date Oct 29, 2025

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Mixed-Use Building, Newport

    This renovated mixed-use building, constructed in 1840, offers income potential from three luxury short-term rental suites and two ground-floor retail spaces. Situated in the Waterfront Business Zone on Lower Thames Street, the property benefits from high traffic. The suites feature high-end finishes, private decks, and harbor views. The retail units include stamped ceilings, ceramic tile flooring, and updated bathrooms. Each retail unit is 800 sq. ft. and has long-term tenants with annual renewals. The property also includes an on-site garage and two additional parking spaces. The suites have maintained Airbnb Superhost status for over three years, with a 4.9-star average, 92% 5-star reviews and over 500 reviews in the past 12 months. The lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.314431
    Latitude
    41.479685

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    FAQs

    What type of property is this?
    Mixed-use property - High-visibility mixed-use building with income potential in Newport, RI.
    Where is this mixed-use property located?
    The property is located at 491 Thames St Newport, RI.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - Exceptional income generation from 3 luxury short-term rental suites and 2 ground-floor retail spaces.; - Prime location in the high-traffic Waterfront Business Zone on Lower Thames Street.; - Proven operational success with Airbnb Superhost status for over three years, high ratings, and numerous positive reviews.
    (401) 845-9500
    Request Owner's contact information
    491 Thames St Newport, RI 02840
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    Newport, RI 02840
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    491 Thames St Newport, RI 02840
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