$2,195,000
About this home
Located in the heart of Newport's vibrant Lower Thames Street district, 624-626 Thames Street presents a rare opportunity to own a three-unit income-producing property in one of the city's most desirable locations. Updated living spaces blend modern finishes with Newport charm, while the first-floor unit is currently configured for residential use and offers additional value-add potential. Off-street parking for up to five vehicles and a detached garage provide amenities rarely found downtown. Significant property improvements include a new roof in 2022, replacement of the boiler and hot water tank in 2023, and updated electrical service. Situated just steps from Newport Harbor, renowned restaurants, shopping, and attractions, the property offers exceptional flexibility and income potential while combining residential versatility with commercial potential in the Limited Business (LB) Zone, creating opportunities for future use and configuration subject to buyer due diligence and applicable approvals. Property benefits from a valid Transient Guest Facility license, allowing for legal short-term rental operations in accordance with applicable state and local regulations.
Property details
- MLS #
- 1419872
- Property type
- Multi Family
- Subdivision
- Downtown - Fifth Ward
- Status
- Active
- Days on market
- 48
- On market date
- August 5, 2026
- Stories
- N/A
- Total bathrooms
- 6.5
- Garage spaces
- 1
- Parking spaces
- 6
- Lot size
- 0.064 acres
Location
Get directions →Nearby schools
Within 10 miles · public school directory data (NCES)
- Enrollment
- 308
- Student:teacher ratio
- 12.8:1
- District
- Middletown
- Enrollment
- 565
- Student:teacher ratio
- 9.7:1
- District
- Newport
- District
- Newport
Walkability
Blended score for Newport's center: EPA's National Walkability Index (street network, transit, land-use mix) combined with nearby-amenity density. 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.
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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 1 days 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.