626 Thames Street, Newport, RI 02840

Property Description

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.