Harborfront Resort with Redevelopment
For Sale
$49,900,000
551 Thames Street, Newport, RI 02840
Commercial/Business,Commercial Sale, Newport, RI
Property Size89,653 SF
Lot Size5.27 Acres
Price / SF$556.59
Days on Market76
Property Features for 551 Thames Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
WB
Parking
208
Interior features
Ceiling Height (7 to 9 Ft)
Subdivision
Wellington
Lot features
Downtown
Standard status
Active
Size
89,653 SF
Lot size
5.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
175859
Utilities
Heating system
Central
Cooling system
Central Air
Water front features
Waterfront
Water front
1
Building Details
Year built
1985
Floors in Building
3
Number of units
1
Building materials
Masonry
Listing Agency:
Gustave White Sotheby's Realty · Sotheby's International Realty
(401) 849-3000
Listed By:
Mike Sweeney
(401) 862-0164
Added: Jun 15
Changed: Aug 21
Last Checked: Aug 29 at 12:06AM
MLS# 1415439
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
The Wellington Resort is a 89,653-square-foot waterfront hospitality property on 5.27 acres at 551 Thames Street in Newport. Built in 1985, the masonry asset comprises four buildings with 52 two-bedroom suites, each offering water views. Existing amenities include indoor and outdoor swimming pools, tennis courts, a fitness center, central heating and central air, and 208 on-site parking spaces.
The property occupies a harborfront position with views toward Newport Harbor, Goat Island, and the Newport Bridge. Newport zoning is WB. An approved modification to the existing Special Use Permit allows the current transient guest facility to be converted into 152 one-bedroom hotel units, providing a defined path for a future hospitality configuration.
The property occupies a harborfront position with views toward Newport Harbor, Goat Island, and the Newport Bridge. Newport zoning is WB. An approved modification to the existing Special Use Permit allows the current transient guest facility to be converted into 152 one-bedroom hotel units, providing a defined path for a future hospitality configuration.
Key Highlights
- 5.27‑acre waterfront resort at 551 Thames Street, Newport, RI 02840
- 89,653 SF hospitality property built in 1985
- 52 two‑bedroom suites across four buildings, each with water views
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,523
Businesses Nearby
Explore this area
Business Placement
Demographics for 02840, RI
23,902
Population
13,515
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,274
Density / Sq Mi
$83,515
Median Household Income
$41,228
Median Earnings
$1,610
Median Rent
$669,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Four-building hospitality property with pools, tennis courts, fitness facilities, and on-site parking.
Where is this resort located?
The property is located at 551 Thames Street Newport, RI.
What is the asking price?
The asking price for this property is $49,900,000.
What are key features of this property?
This property features: 5.27‑acre waterfront resort at 551 Thames Street, Newport, RI 02840; 89,653 SF hospitality property built in 1985; 52 two‑bedroom suites across four buildings, each with water views
