Newport Waterfront Commercial Building Sells for $1.9 Million

NEWPORT, RI—Lila Delman Real Estate International has sold 429 – 431 Thames St. in Newport for $1,900,000. Annie Becker, sales associate, represented the buyers. The price is the highest for a commercial sale in Newport since 2015. It's the second commercial sale over $1 million since the sale of 39 Touro St. in January, according to data from the Rhode Island Statewide Multiple Listing Service.

The mixed-use building offers units ranging from retail space to a small 1-bedroom apartment to a 2-story penthouse with sunset and harbor views. The property is comprised of two retail spaces, five residential units and a garage within two buildings. It is in Newport’s waterfront business zone, which allows for commercial use and short-term residential rentals. The property is surrounded by important historic properties and Thames Street’s eclectic shops and restaurants.

“Residential and mixed-use buildings in Newport’s commercially zoned areas are bringing a lot of interest right now,” Becker said. “Investors are especially interested in properties in areas that have potential for short-term rentals.”