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$3,250,000

  • For Sale
  • Active
  • Commercial Residential Facility
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This high visibility, fully renovated 1840 mixed-use building delivers exceptional income from three luxury short-term rental suites and two ground-floor retail spaces. It is located in the Waterfront Business Zone, a high traffic area on Lower Thames Street. All suites are recently renovated with high-end finishes, private decks, and harbor views. The retail units have been renovated with stamped ceilings, ceramic tile flooring and updated baths. Each 800 sq. ft. unit provides additional income with proven long-term tenants with annual renewals. The property also includes an on-site garage and 2 additional parking spaces. Current operations have maintained 3 registered, legal suites in Airbnb Superhost status for over three years, with a 4.9-star average, 92% 5-star reviews and over 500 reviews in the past 12 months. Offered at $3,250,000 USD, this property combines historic charm, operational stability and exceptional income - a rare opportunity in Newport's thriving waterfront market.

Full Property Details for 491 Thames St

General

  • Price: $3,250,000
  • Taxes: $13,451 (2025)
  • Status: Active
  • Type: Commercial Residential Facility
  • Source: STWMLS
  • MLS ID: 1395659
  • Updated: 10/20/2025
  • Added to Site: 153 day(s) ago

Business

  • Name: Thames Street Hospitality
  • Business Type: Real Estate, Retail

Rental Information

  • Lease Info: Gross

Rooms

Other Rooms

  • Laundry: Common Area, Laundry Room

Additional Information

  • Tennis: Yes
  • Security/Safety: Carbon Monoxide Detector(s), Fire Alarm, Secured Garage/Parking, Smoke Detector(s)

Parking

  • Garage: Yes
  • Total Spaces: 6

Location

  • County: Newport
  • Subdivision: Thames Street Harbour
  • Near Highway: Yes

Community

  • Units Assoc/Comm: 5

Heating & Cooling

  • Air Conditioning: Yes
  • Cooling Type: Ductless, 1 Unit
  • Heating Type: Ductless, Hot Water

Utilities

  • Sewer: Connected
  • Water: Connected, Public
  • Cable Available: Yes
  • Utility Description: Cable Available, Electricity Available, Natural Gas Available, Natural Gas Connected, Municipal Utilities, Water Connected, Sewer Connected

Structural Information

  • # Buildings: 1
  • Property Detached: Yes
  • Structure Type: Apartment
  • Detached/Attached: Detached
  • Construction: Frame
  • Basement: Yes
  • Basement Desc.: Full
  • Stories/Levels: 3
  • Building Size: 4800
  • Finished Total: 4,800 Sq. Ft.
  • Finished Above Grnd: 4,800 Sq. Ft.
  • Year Built: 1850

Lot Features

  • Property View: Water
  • Lot Size (Sq. Ft.): 2,614
  • Lot Size: 2614
  • Frontage: City Street
  • Street Lights: Yes
  • Sidewalks: Yes
  • Lot Features: Corner Lot
  • Potential Use: Investment, Multi-Family, Mixed Use, Office, Residential

Water Features

  • Water View: Yes

Financial Considerations

  • Tax Amount: $13,451
  • Tax Year: 2025
  • Owner Pays: Common Area Maintenance, Electricity, Exterior Maintenance, Gas, Heat, Hot Water, Insurance, Management, Pest Control, Parking Fee, Repairs, Roof Maintenance, Snow Removal, Sewer, Taxes, Water
  • Tenant Pays: Electricity, Heat

Disclosures and Reports

  • Documents Avail.: Aerial
  • Property ID: 491493THAMESSTNEWP
  • Lot Number: 159

Listed by Hogan Associates Christie's

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Listing agent

— 491 Thames St —

  • Hogan Associates Christie's

401-862-2741

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 491 Thames St

School District:Newport School District, Newport, RI
NameGradesDistance
Rogers High School
15 Wickham Road, Newport, RI 02840
9-120.8 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 491 Thames St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/18/2025
Listed
$3,250,000
460.34%
MLS
12/03/2013
Sold
$580,000
—
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 491 Thames St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$8,971
100%
$1,249,400
44%
2023
100%
$866,100
12%
2022
100%
$770,600
—
2022
100%
$769,400
18%
2020
100%
$650,400
—
2019
100%
$650,400
—
2018
100%
$650,400
6%
2017
100%
$612,600
—
2016
100%
$612,600
—
2015
100%
$612,600
-5%
2014
100%
$644,700
—
2013
—
$644,700
—
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.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Hogan Associates Christie's

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491 Thames Street, Newport, RI 02840 (MLS# 1395659) is a Commercial Residential Facility property. 491 Thames Street is currently listed for $3,250,000 and was received on October 18, 2025. Want to learn more about 491 Thames Street? Do you have questions about finding other Commercial Residential Facility 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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