617-375-7900
551 Thames St, Newport, RI for Sale
Hospitality - FOR SALE
1/26
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551 Thames St
Newport, RI 02840


HIGHLIGHTS

  • Primed Condo Conversion Opportunity
  • Amenity-Rich Site with Ample Parking
  • Supply Constrained Submarket
  • Existing Hotel Operations for Full-Service Vacatiopn Ownership
  • Direct Waterfront Access
  • Exclusive Downtown Newport Location

OVERVIEW

Boston Realty Advisors is pleased to present the opportunity to acquire The Wellington Resort, a premier waterfront hotel located in Newport, Rhode Island. The 5.27-acre property includes 52 units across three buildings, a club house, and 208 parking spaces. The Wellington offers unmatched resort-style living with exceptional amenities, including indoor and outdoor swimming pools, a fitness center, tennis courts, and direct marina access. Every suite features two bedrooms and two bathrooms, private balconies overlooking Newport Harbor, fully equipped kitchens, and spacious living areas. Newport is the leading US market for second homes, with a surge in luxury transactions since 2023. The Wellington Resort is perfectly positioned to meet this insatiable demand with a phased conversion to condominiums or a repositioning to a condo hotel, offering residents a full-service vacation property. Given its exclusive downtown location, direct water access, and large-format units, The Wellington is a one-of-a-kind asset ideally situated to meet this demand. Newport, Rhode Island stands as one of the Northeast’s most iconic coastal destinations, attracting a wealthy and sophisticated crowd year after year. Known for its storied Gilded Age mansions, vibrant sailing culture, and world-class dining and shopping, Newport has long been a premier retreat for affluent vacationers from around the Northeast. The city hosts internationally recognized events such as the Newport Jazz and Folk Festivals and America’s Cup sailing competitions, further cementing its reputation as a hub for luxury leisure and culture. With its combination of historic charm, pristine coastline, and a robust highnet-worth visitor base, Newport offers a uniquely resilient and desirable market for both hospitality and luxury residential demand.

FOR SALE DETAILS

PRICE

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# OF ROOMS

53

CAP RATE

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SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Wellington Resort

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1985

PARKING SPACES

141

LAND DETAILS

LAND ACRES

5.27 AC

LAND SF

229,561 SF

ZONING

WB

APN/PARCEL ID

NEWP-000035-000204-B000001

ASK ABOUT THIS PROPERTY

Nicholas HerzBoston Realty AdvisorsMore Info
617-375-7900

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Nicholas HerzBoston Realty AdvisorsMore Info
617-375-7900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.