424 Thames St, Newport, RI

House

For Sale

Listed price in listed location currency (USD).

$2,195,000

351

MLS® 1423765

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 4306 sqft

Garage

Taxes $7,996

Days Active 1

Lot Size 0.03 Acres

Approx. Age 1835

Avg. Price Per Sqft $509

MLS® Number 1423765

Property Address: 424 Thames St, Newport, RI, 02840-6757

Average square foot calculated using Size range provided by listing agent.

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.

MLS® Number1423765

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1835

BasementFull, Unfinished

DrivewayNo Garage

Garage Spaces

HeatBaseboard, Gas

A/CWindow Units

Extras

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.

Map

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