424 Thames ST, Newport, RI 02840
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424 Thames ST, Newport, RI 02840
424 Thames ST, Newport, RI 02840
424 Thames ST, Newport, RI 02840
424 Thames ST, Newport, RI 02840
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Michelle Barnes

Michelle Barnes

+1(401) 744-4913
$ 2,195,000
Est. payment /mo
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424 Thames ST Newport, RI 02840

3 Beds

5 Baths

4,306 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,306 sqft

Price per Sqft $509

Subdivision Downtown Thames

MLS Listing ID 1423765

Bedrooms 3

Full Baths 3

Half Baths 2

HOA Y/N No

Abv Grd Liv Area 4,306

Year Built 1835

Annual Tax Amount $7,996

Tax Year 2025

Lot Size 1,306 Sqft

Acres 0.03

Property Sub-Type Multi Family

Property Description

424 Thames Street presents a rare opportunity to acquire a mixed-use income-producing property in the heart of Newport's vibrant Lower Thames district. The property features two street-level commercial spaces currently occupied by established retail and service tenants, complemented by a spacious three-bedroom, three-bath residential unit currently operated as a short-term rental. This diversified configuration offers multiple income streams within one of Newport's most active commercial and hospitality corridors. Recent improvements include fresh exterior paint and new decking, highlighted by an incredible rooftop deck offering views of Newport Harbor and the Pell Bridge. With approximately 2,672 square feet across three units, one off-street parking space, and Limited Business (LB) zoning, 424 Thames combines high-visibility commercial frontage with an established residential hospitality component. Ideally situated just steps from Newport Harbor, restaurants, shopping, nightlife, and downtown attractions, this is a unique opportunity to own a versatile income-producing property in the heart of Newport's waterfront district.

Location

State RI

County Newport

Community Downtown Thames

Zoning LB

Rooms

Basement Full, Unfinished

Interior

Heating Baseboard, Gas

Cooling Window Unit(s)

Flooring Hardwood

Inclusions Unit 3 has a short term rental registration in place. Income numbers for the breakdown of unit 3 is based on the total yearly gross rental income of $185, 957 divided into the $11, 590 monthly amount. Exact income varies based on the month. Buyer to do all due diligence for their own STR permits upon ownership.

Fireplace No

Appliance Gas Water Heater

Exterior

Utilities Available Sewer Connected

Total Parking Spaces 1

Garage No

Building

Sewer Connected, Public Sewer

Water Connected, Public

Structure Type Wood Siding

New Construction No

Others

Senior Community No

Tax ID 424THAMESSTNEWP

Virtual Tour https://tour.RiLiving.com/424-Thames-Street-Newport-RI-02840

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Michelle Barnes
Michelle Barnes

Agent

+1(401) 744-4913 | michelle@homesbymichelleb.com

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424 Thames ST