# 551 Thames Street #H3, H4, H5, Newport, RI 02840 > **TL;DR:** commercial, $49,900,000 ($557/sqft), built 1985, 89,653 sqft. > Waterfront, A/C. Est. $266,876/mo. Listed 140 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $49,900,000 | | Price/sqft | $557 | | Square Feet | 89,653 | | Year Built | 1985 | | Lot Size | 229,561 sqft (5.27 acres) | | Stories | 3 | | Property Type | Commercial (Other) | | Status | Active | | Days on Market | 140 | ## Why This Home Stands Out - **Waterfront** - Waterfront location listed ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $252,322 | | Estimated Insurance | $14,554 | | **Total** | **$266,876** | ## Key Amenities - Waterfront - A/C ## Property Highlights - Built in 1985 - 5.27 acre lot - 3 stories - 208 parking spaces - Waterfront ## Description ### Agent 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. ## Location - **Address:** 551 Thames Street #H3, H4, H5, Newport, RI 02840 - **County:** Newport - **Neighborhood:** Wellington - **Coordinates:** 41.477811, -71.315235 - **Google Maps:** https://www.google.com/maps?q=41.477811,-71.315235 ## Listing Agent - **Name:** Mike Sweeney - **Brokerage:** Gustave White Sotheby's International Realty - **Broker Phone:** (401) 849-3000 ## Photos ![551 Thames Street #H3, H4, H5 - Photo 1](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f4229524945r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 2](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3676994073r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 3](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3526563613r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 4](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2528518396r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 5](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2561745626r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 6](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f13209189r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 7](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f658026547r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 8](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2465061369r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 9](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2832415329r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 10](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3195724730r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 11](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3533865996r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 12](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1700718819r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 13](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2547659971r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 14](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f407695942r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 15](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3683363457r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 16](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3876596438r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 17](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2718209346r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 18](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1219175555r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 19](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1748401478r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 20](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1911100441r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 21](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3279874475r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 22](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2423795736r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 23](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2047858962r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 24](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3733670194r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 25](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2913357986r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 26](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3921578336r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 27](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f2194789606r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 28](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f936213409r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 29](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3545350775r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 30](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1622619748r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 31](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f1259342867r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 32](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f383256583r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 33](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3539907591r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 34](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f71707507r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 35](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f3480247969r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 36](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f828094558r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 37](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f601198130r.jpg) ![551 Thames Street #H3, H4, H5 - Photo 38](http://lh.rdcpix.com/a42a87a709218ed7aeecf8a3ff2fac8el-f403046773r.jpg) --- **MLS#:** 1415439 | **Updated:** 2026-10-20 **Source:** listhub *Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://staging.propertysimple.ai/listing/551-thames-street-newport-ri-02840-ddba8e0901ab4733a3c065d26484a01c) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://staging.propertysimple.ai/listing/551-thames-street-newport-ri-02840-ddba8e0901ab4733a3c065d26484a01c#listing", "url": "https://staging.propertysimple.ai/listing/551-thames-street-newport-ri-02840-ddba8e0901ab4733a3c065d26484a01c", "name": "551 Thames Street #H3, H4, H5, Newport, RI 02840", "description": "Nestled in the corner of Newport Harbor, the Wellington Resort presents one of the city's most significant waterfront investment opportunities. 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