28 Pelham Street Newport Newport, RI 02840

Building Details

Year Built

1900

Listing office c***@milestonerealtyinc.com Show Phone

Listing date May 15, 2026

Source Milestonerealtyinc

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Stephen Rose

Report an issue

---

Investment Insights

Based on property information with market context.

Located in the heart of historic downtown Newport, just one block from Bowens Wharf and Thames Street, the three-story building at 28 Pelham Street offers 10,800 square feet of space with a full basement. Currently operating as a multi-tenant office building with 16 individual tenants on yearly leases, the property generates consistent income. The property's well-laid-out floor plans across three full stories make it suitable for an owner-occupant seeking a headquarters, a developer with an eye toward adaptive reuse, or an investor looking to hold a stabilized asset in a high-demand location. Zoned General Business, the property also opens the door to a range of alternative uses including residential conversion and transient guest facilities, subject to city approvals. It can be used as an occupied investment property, a residential conversion, or a boutique hotel.

Key Highlights

• Prime location in the heart of historic downtown Newport, one block from Bowens Wharf and Thames Street.
• Versatile 10,800 sq ft building with full basement suitable for investment, residential conversion, or boutique hotel (subject to approvals).
• Currently operating as a multi‑tenant office building with 16 tenants on yearly leases, providing immediate income.

Property Analytics

Property Profile Location Intelligence

Similar For Sale Nearby

• 

  $1,675,000

  3,505 SF

  Victorian Two-Family Home

  Legal two-family residence with flexible layouts, recent mechanical updates, and parking for five vehicles in Newport.

  15 Ayrault Street, Newport, RI 02840

  View Details
• 

  $55,000,000

  89,653 SF

  Waterfront Resort Redevelopment Site

  Harborfront resort with water-view suites, resort amenities, and zoning-approved conversion to hotel units.

  551 Thames Street, Newport, RI 02840

  View Details
• 

  $7,500,000

  8,660 SF

  Historic Stone Carriage House Triplex

  A landmark carriage house converted into three four-bedroom residences with private patios, soaring ceilings, and distinctive architectural details.

  2 Hazard Avenue, Newport, RI 02840

  View Details
• 

  $2,500,000

  3,848 SF

  Historic Duplex with Gambrel Roof

  Circa-1750 gambrel duplex with original architectural details, multiple fireplaces, and dedicated parking for both residences.

  57 Farewell Street, Newport, RI 02840

  View Details
• 

  $7,200,000

  3,400 SF

  Two-Family Residential Property

  Two-family lot offering a three-bedroom main residence and a separate two-bedroom rental cottage in Newport.

  18 Ledge Road, Newport, RI 02840

  View Details
• 

  $1,960,000

  3,550 SF

  Newport Multifamily Investment Opportunity

  Well-maintained 8-bedroom property in desirable, walkable Newport neighborhood.

  34 Bull Street, Newport, RI 02840

  View Details
• 

  $1,299,999

  2,079 SF

  Renovated Multi-Family Home with Yard

  Two-unit home with yard, modern amenities, and off-street parking.

  7 Sheffield Avenue, Newport, RI 02840

  View Details
• 

  $999,000

  2,016 SF

  Updated Two-Family Residence

  Well-maintained two-family with substantial system updates, off-street parking, and a detached two-car garage for flexible income potential.

  2 Bedlow Avenue, Newport, RI 02840

  View Details
• 

  $1,275,000

  2,458 SF

  Historic Duplex Townhouse

  Two-unit layout with tall ceilings, hardwood floors, stained-glass windows, and a private fenced patio.

  98 John Street, Newport, RI 02840

  View Details
• 

  $699,900

  1,795 SF

  Two-Family Residential Property

  Two-unit duplex with hardwood floors, offering a solid first-floor unit and a renovation opportunity on the second level.

  8 Mann Avenue, Newport, RI 02840

  View Details
• 

  $1,800,000

  5,312 SF

  Newport Multifamily Home with Income Potential

  Two-family home in Newport, ideal for rental income or multi-generational living.

  1 Pell Street, Newport, RI 02840

  View Details
• 

  $3,250,000

  4,800 SF

  Renovated Mixed-Use Waterfront Building

  High-visibility Newport property with short-term rentals and retail spaces.

  491 Thames Street, Newport, RI 02840

  View Details

FAQs

What type of property is this?

Office building - Three-story, 10,800 SF building in the heart of Newport.

Where is this office building located?

The property is located at 28 Pelham Street Newport Newport, RI.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: Prime location in the heart of historic downtown Newport, one block from Bowens Wharf and Thames Street.; Versatile 10,800 sq ft building with full basement suitable for investment, residential conversion, or boutique hotel (subject to approvals).; Currently operating as a multi‑tenant office building with 16 tenants on yearly leases, providing immediate income.