626 Thames Street Newport

$2,195,000
9 6.5 4,165 sq ft

The Property

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.

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Listing Details

MLS Number

1419872

Lot Size:

0.06 acres

Features

  • Basement: Full, Interior Only, Unfinished
  • Heating: Electric, Natural Gas, Baseboard, Forced Water, Gas Connected
  • Heating Fuel: Electric, Natural Gas, Baseboard, Forced Water, Gas Connected
  • Garage: 1
  • Laundry
  • Year Built: 1918

Market Trends for Single Family Homes
in Newport

  • Overview
    Homes for Sale Today105-91% decrease in inventory
    New on Market *36-20% decrease in new listings
    Avg. Asking Price/Sq.Ft. *$811.32$95 decrease in List Price/Sq.Ft.
    Avg. Sale Price *$1,135,412$180,802 decrease in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *92.54%-6.1% decrease in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$660.87$143 decrease in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *6220 decrease in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

    Contact Us

    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Our Real Estate
Phone: 401-835-7778

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