$2,195,000
About this home
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.
Property details
- MLS #
- 1423765
- Property type
- Multi Family
- Subdivision
- Downtown Thames
- Status
- Active
- Days on market
- 10
- On market date
- September 19, 2026
- Stories
- N/A
- Total bathrooms
- 4
- Garage spaces
- N/A
- Parking spaces
- 1
- Lot size
- 0.03 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 744
- Student:teacher ratio
- 10.9:1
- District
- Newport
- Enrollment
- 565
- Student:teacher ratio
- 9.7:1
- District
- Newport
- District
- Newport
Walkability
Blended score for Newport's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Newport, from live MLS data.
Mortgage calculator
Estimate only - actual rate and payment depend on your lender, credit, and loan program.
Adjust tax / insurance estimates
Similar homes you might like
Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 12 hr ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.