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The Wellington Resort 551 Thames St 53 Room Hotel Newport, RI 02840 $55,000,000 ($1,037,736/Room)
Executive Summary
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.
Property Facts
| Price | $55,000,000 | Building Size | 89,653 SF |
| Price Per Room | $1,037,736 | No. Rooms | 53 |
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1985/2022 |
| Property Subtype | Hotel | Parking Ratio | 2.32/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 5.27 AC | ||
| Zoning | WB - Newport zoning approved a modification to the existing Special Use Permit, allowing the conversion of the current 52-unit transient guest facility int | ||
| Price | $55,000,000 |
| Price Per Room | $1,037,736 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 5.27 AC |
| Building Size | 89,653 SF |
| No. Rooms | 53 |
| No. Stories | 4 |
| Year Built/Renovated | 1985/2022 |
| Parking Ratio | 2.32/1,000 SF |
| Corridor | Interior |
| Zoning | WB - Newport zoning approved a modification to the existing Special Use Permit, allowing the conversion of the current 52-unit transient guest facility int |
Amenities
- Business Center
- Fitness Center
- Pool
- Indoor Pool
- Outdoor Pool
- Public Access Wifi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 53 | $242.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | NEWP-000035-000204-B000001 | Improvements Assessment | $500,900 |
| Land Assessment | $0 | Total Assessment | $500,900 |
Property Taxes
Parcel Number
NEWP-000035-000204-B000001
Land Assessment
$0
Improvements Assessment
$500,900
Total Assessment
$500,900
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The Wellington Resort | 551 Thames St