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551 Thames Street #H3, H4, H5

Newport, RI 02840

$49,900,000 PRICE
89,653 Sqft
5.27 Acres
1985 Built
$557 Price/Sqft

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.

Additional Information

ADDITIONAL INFORMATION

DAYS ON MARKET: 115
ELECTRICAL FEATURES: 200+ Amp Service
LIVING AREA SQFT: 89653
ON MARKET DATE: 2026-06-15
PARKING SPACES: 208
SUBDIVISION: Wellington
TAX AMOUNT: $175,859
TAX YEAR: 2026
TYPE: Commercial Sale
UNIT COUNT: 1
UTILITIES: Electricity Available, Natural Gas Connected, Sewer Connected, Water Connected
YEAR BUILT: 1985

AMENITIES

Pool
Golf
Restaurant
Tennis Court(s)

INTERIOR/EXTERIOR FEATURES

COOLING: Central Air
EXTERIOR FEATURES: Pool (Community, Indoor)
FOUNDATION: Slab
INTERIOR FEATURES: Elevator

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Rhode Island

Rhode Island, Rhode Island

The coastal state of Rhode Island, known as "The Ocean State," represents one of New England's most distinctive living destinations. Measuring just 48 miles from north to south and 37 miles from east to...

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William Pitt Sotheby's International Realty

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The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than William Pitt Sotheby's International Realty are marked with the MLS logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed. Data is updated as of 10/09/2026. Listed By: Michael Sweeney of Gustave White Sotheby's Realty (401.849.3000).