USARINewportDowntown - Fifth Ward626 Thames St
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$2,195,000

For Sale

7 days ago

626 Thames St, Newport, RI

House

MLS® 1419872

9 Bed

7 Bath

4165 sqft

6 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 4165 sqft
Garage Yes
Taxes $9,428
Days Active 7
Lot Size 0.064 Acres
Approx. Age 1918
Avg. Price Per Sqft $527
MLS® Number 1419872

Property Address: 626 Thames St, Newport, RI, 02840-6704

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number1419872
Laundry LevelEnsuite
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1918
BasementFull, Interior Entry, Unfinished
DrivewayAttached, Garage
Garage Spaces
HeatBaseboard, Electric, Gas, Hot Water
A/CWindow Units

Extras

Units 2 and 3 have short term rental registrations in place. Income numbers for the breakdown of units 2 and 3 are based on the total yearly gross rental income of $159, 106 for both units, divided into monthly amounts. Exact income varies based on the month. Unit 1 has been a yearly rental for multiple years and will be vacant as of September 1, 2026. Buyer to do all due diligence for their own STR permits upon ownership.

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 5, 2026List Date
$2,195,000List Price
  • Commute

Commute

Starting Address
Destination Address
626 Thames St, Newport, RI

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