Date
Details
Price
Change
Source
6/15/2026
Listed
$55,000,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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$55,000,000 Just Listed
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Property Description
Nestled in the corner of Newport Harbor, the Wellington Resort presents one of the city's most significant waterfront investment opportunities. Spanning 5.27 acres in an exceptional harborfront setting, the property combines premier coastal real estate with excellent redevelopment and value-enhancement potential. The unique positioning of the property offers panoramic views of the harbor, Goat Island, the Newport Bridge, and beyond. The location is just steps from Newport's renowned waterfront attractions further distinguishing this landmark asset. The resort currently features 52 spacious, two-bedroom suites each with water views spanning four buildings, complemented by a full suite of resort-style amenities, including indoor and outdoor swimming pools, tennis courts, a fitness center, and 208 on-site parking spaces. Adding to its unique appeal, Newport zoning approved a modification to the existing Special Use Permit, allowing the conversion of the current 52-unit transient guest facility into 152 one-bedroom hotel units. This entitlement creates a rare opportunity to significantly increase density and unlock future development potential in one of Newport's most coveted waterfront locations.
Full Property Details
Full Property Details for 551 Thames St #H3, H4, H5
General
- Price: $55,000,000
- Taxes: $175,859 (2026)
- Status: Active
- Type: Commercial Residential Facility
- Source: STWMLS
- MLS ID: 1415439
- Updated: 6/17/2026
- Added to Site: 2 day(s) ago
Business
- Name: The Wellington Resort
- Business Type: Hotel/Motel, Residential
Rooms
Other Rooms
- Laundry: Common Area
Additional Information
- Shared Amenities: Business Center, Indoor Pool, Pool, Tennis Court(s)
- Pool: Yes
- Pool Description: Community, Indoor
- Tennis: Yes
- Security/Safety: Fire Sprinkler System
Parking
- Total Spaces: 208
Location
- County: Newport
- Subdivision: Wellington
- Building Name: H3, H4, H5
Community
- Units Assoc/Comm: 52
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air Conditioning
Utilities
- Sewer: Connected
- Water: Connected
- Utility Description: Electricity Available, Natural Gas Connected, Sewer Connected
Structural Information
- # Buildings: 4
- Detached/Attached: Attached
- Construction: Masonry
- Basement Desc.: None
- Stories/Levels: 3
- Building Size: 89653
- Finished Total: 89,653 Sq. Ft.
- Finished Above Grnd: 89,653 Sq. Ft.
- Year Built: 1985
- Other Struct. Feat.: Elevator(s)
Unit Information
- Vacancy %: 50
Lot Features
- Lot Size (Acres): 5.27
- Lot Size (Sq. Ft.): 230,035
- Lot Size: 230035
- Potential Use: Development, Investment, Residential
Financial Considerations
- Tax Amount: $175,859
- Tax Year: 2026
- Owner Pays: All Utilities
Disclosures and Reports
- Documents Avail.: Aerial, Building Plans, Environmental Study, Site Plan
- Property ID: 551THAMESSTH3, H4, H5NEWP
- Lot Number: 204
Listed by Gustave White Sotheby's Realty
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Listing agents
— 551 Thames St #H3, H4, H5 —
Gustave White Sotheby's Realty
Gustave White Sotheby's Realty
401-849-3000
NMLS#: 1598647Get Pre-Approved Today
Price & Sales History for 551 Thames St #H3, H4, H5
Tax History
Tax History for 551 Thames St #H3, H4, H5
Year
Property Taxes
Change
Tax Assessment
Change
2025
$37,945
3%
$3,523,200
—
2024
$36,853
-29%
$3,523,200
1%
2023
$51,684
3%
$3,473,400
—
2022
$50,052
38%
$3,473,400
34%
2021
$36,255
-54%
$2,591,500
-49%
2020
$78,406
53%
$5,084,700
53%
2019
$51,372
3%
$3,331,500
—
2018
$49,906
-25%
$3,331,500
-22%
2017
$66,647
3%
$4,286,000
—
2016
$64,976
3%
$4,286,000
—
2015
$63,390
48%
$4,286,000
67%
2014
$42,855
3%
$2,563,100
—
2013
$41,599
—
$2,563,100
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 551 Thames St #H3, H4, H5
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- Single Family
- Active
- Updated 6 days ago
- 4Beds
- 2Total Baths
- 2,026Sq. Ft.
- Single Family
- Active
- Updated 13 hours ago
- 5Beds
- 7Total Baths
- 6,254Sq. Ft.
- Single Family
- Active
- Updated 6 days ago
- 5Beds
- 3Total Baths
- 3,112Sq. Ft.
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- Single Family
- Active
- Updated 1 day ago
- 2Beds
- 1Total Bath
- 919Sq. Ft.
- Single Family
- Active
- Updated 1 hour ago
- 3Beds
- 2Total Baths
- 1,600Sq. Ft.
- Single Family
- Active
- Updated 5 days ago
- 5Beds
- 3Total Baths
- 2,784Sq. Ft.
551 Thames Street #H3, H4, H5, Newport, RI 02840 (MLS# 1415439) is a Commercial Residential Facility property. 551 Thames Street #H3, H4, H5 is currently listed for $55,000,000 and was received on June 15, 2026. Want to learn more about 551 Thames Street #H3, H4, H5? 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.