$2,195,000

About this home

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.

Property facts

Property type

Multi Family

Year built

1835

Lot size (acres)

0.03

Total rooms

13

Garage spaces

0

Total parking

1

Annual taxes

$7,996

Tax year

2025

Neighborhood

Downtown Thames

County

Newport

Features

Heating

Natural Gas, Baseboard

Cooling

Window Unit(s)

Basement

Full, Bulkhead, Unfinished

Appliances

Gas Water Heater

Parking

No Garage

Construction

Wood

Utilities

Sewer Connected, Water Connected

Sewer

Public Sewer

Water

Municipal

Location