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$2,195,000 Just Listed

  • For Sale
  • Active
  • Apartment
  • 3 Beds
  • 3 Full Baths
  • 2 Partial Baths
  • 0.03 Acres
  • Updated 5 hours ago
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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.

Full Property Details for 424 Thames St

General

  • Price: $2,195,000
  • Taxes: $7,996 (2025)
  • Status: Active
  • Type: Apartment
  • Source: STWMLS
  • MLS ID: 1423765
  • Updated: Today (9/19/2026)
  • Added to Site: Today

Interior

  • Number of Rooms: 13
  • Appliances: Gas Water Heater
  • Flooring: Hardwood

Rooms

Bathrooms

  • Total Bathrooms: 5
  • Full Bathrooms: 3
  • Half Bathrooms: 2

Bedrooms

  • Total Bedrooms: 3

Parking

  • Total Spaces: 1
  • Parking Features: No Garage

Location

  • County: Newport
  • Subdivision: Downtown Thames

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Window Unit(s)
  • Heating Type: Baseboard, Gas

Utilities

  • Sewer: Connected, Public Sewer
  • Water: Connected, Public
  • Utility Description: Sewer Connected

Structural Information

  • # Buildings: 1
  • Structure Type: Apartment
  • Detached/Attached: Detached
  • Construction: Wood Siding
  • Basement: Yes
  • Basement Desc.: Full, Unfinished
  • Stories/Levels: 0
  • Building Size: 4306
  • Finished Total: 4,306 Sq. Ft.
  • Finished Above Grnd: 4,306 Sq. Ft.
  • Year Built: 1835

Lot Features

  • Lot Size (Acres): 0.03
  • Lot Size (Sq. Ft.): 1,307
  • Lot Size: 1307

Financial Considerations

  • Operating Expenses: $61,711
  • Tax Amount: $7,996
  • Tax Year: 2025

Disclosures and Reports

  • 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.
  • Property ID: 424THAMESSTNEWP
  • Lot Number: 23

Listed by Our Real Estate

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Listing agents

— 424 Thames St —

  • Our Real Estate

  • Our Real Estate

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 424 Thames St

School District:Newport School District, Newport, RI
NameGradesDistance
Frank E. Thompson Middle School
55 Broadway, Newport, RI 02840
5-80.7 mi
Pell Elementary School
35 Dexter Street, Newport, RI 02840
PK-41.9 mi
Rogers High School
15 Wickham Road, Newport, RI 02840
9-120.9 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 424 Thames St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/19/2026
Listed
$2,195,000
46.33%
MLS
6/23/2022
Sold
$1,500,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 424 Thames St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$7,996
100%
$1,113,700
—
2024
100%
$1,113,700
56%
2023
100%
$715,800
—
2022
100%
$715,800
8%
2022
100%
$663,700
-1%
2020
100%
$673,600
—
2019
100%
$673,600
—
2018
100%
$673,600
35%
2017
100%
$498,800
—
2016
100%
$498,800
—
2015
100%
$498,800
-19%
2014
100%
$617,400
—
2013
—
$617,400
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Our Real Estate

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424 Thames Street, Newport, RI 02840 (MLS# 1423765) is a Apartment property with 3 bedrooms, 3 full bathrooms and 2 partial bathrooms. 424 Thames Street is currently listed for $2,195,000 and was received on September 19, 2026. Want to learn more about 424 Thames Street? Do you have questions about finding other Apartment real estate for sale in Newport? You can browse all Newport real estate or contact a Coldwell Banker agent to request more information.

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