551 Thames Street Unit H3,Newport, RI 02840
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. 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.
Details
| MLS # | 1415439 |
|---|---|
| Listing Type | For Sale |
| Style | Residence |
| Building Name | H3, H4, H5 |
| Sub-Type | Resale |
| Status | Active |
| Year | 1985 |
| Days On Site | 115 |
| Listing Provided By | Gustave White Sotheby's Realty | Mike Sweeney |
Features
| SQ Feet | 89,653 |
|---|---|
| Pool | Yes |
| Story(s) | 3 |
| Units | 1 |
| Building(s) | 4 |
| Zoning | WB |
| Acreage | 5.27 |
| Golf Course | Yes |
| Water Front | Yes |
Interior
| Heating | Central Air |
|---|---|
| Heating Yes / No | Yes |
| Cooling | Central Air |
| Cooling Yes / No | Yes |
| Interior Features | Ceiling Height (7 to 9 Ft) |
| Laundry Features | In Building |
Exterior
| Foundation Details | Slab |
|---|---|
| Lot Features | Downtown |
| Community Features | Golf, Marina, Private School, Recreational Facilities, Restaurants, Shopping, Near Swimming, Tennis, Business Center, Indoor Pool, Outdoor Pool, Tennis Court(s) |
| Construction Materials | Masonry |
| Security Features | Fire Sprinkler System |
Utilities
| Utilities | 3-Phase Electric, Natural Gas Connected |
|---|---|
| Sewer | Connected |
| Electric | 400 Amps |
| Gas | Connected |
Location
| Community Features | Golf, Marina, Private School, Recreational Facilities, Restaurants, Shopping, Near Swimming, Tennis, Business Center, Indoor Pool, Outdoor Pool, Tennis Court(s) |
|---|
Taxes
| Tax Annual Amount | 175859 |
|---|---|
| Tax Assessed Value | 16334700 |
| Tax Lot | 204 |
| Tax Year | 2026 |
Area Information
| State | RI |
|---|---|
| County | Newport |
| City | Newport |
| Zip Code | 02840 |
| Area | Newport |
| Community Name | Wellington |
| Listing VS Median (in Wellington) | |
Price: $55,000,000 low | high Med: $0 On site: 115 low | high Med: | |
Market Activity 02840
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Learn More About This Property
| State | RI |
|---|---|
| County | Newport |
| City | Newport |
| Zip Code | 02840 |
| Area | Newport |
| Community Name | Wellington |
| Listing VS Median (in Wellington) | |
Price: $55,000,000 low | high Med: $0 On site: 115 low | high Med: | |