551 Thames Street, Unit#h3, H4, H5 Newport

$55,000,000
89,653 sq ft

Map View Street View

The Property

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.

Read more

Listing Details

MLS Number

1415439

Lot Size:

5.28 acres

Features

  • Elevator
  • Sprinklers
  • Golf
  • Marina
  • Private School
  • Recreational Facilities
  • Restaurants
  • Shopping
  • Near Swimming
  • Tennis
  • Business Center
  • Indoor Pool
  • Outdoor Pool
  • Tennis Court(s)
  • Heating: Central Air
  • Heating Fuel: Central Air
  • Laundry
  • Downtown
  • Year Built: 1985
  • Water Amenities: Waterfront

See more features

Market Trends for Commercial Properties
in Newport

  • Overview
    Homes for Sale Today9-92% decrease in inventory
    New on Market *1100% increase in new listings
    Avg. Asking Price/Sq.Ft. *$613.48$613 increase in List Price/Sq.Ft.
    Avg. Sale Price *$1,705,000$1,705,000 increase in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *85.29%100% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$391.77$392 increase in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *359359 increase 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 Gustave White Sotheby's Realty

Exclusively From Us To You

We invite you to join our exquisite collection of properties, latest news and events.

Thank you for subscribing!