REDUCED: Waterfront Investment/Owner Occupier Opportunity

Retail-Commercial for Sale
Sale Pending
Also listed as Industrial, Special Purpose
Catylist Listing ID: 30478008
Property Subtypes: Mixed Use, Street Retail
Status: Pending
Building Size (RSF): 12,298 SF
Gross Building Area: See Agent
Sale Price: $595,000
Unit Price: $48.38 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 10/16/2020

Overview / Comments

Tightly Held Leasehold Marine Facility located in the high demand port of Galilee in Southern Narragansett. Currently serving the Lobster industry, but previously has uses including an Ice house, and commercial fishing with its unparalleled access to Port Judith and the Atlantic Ocean.

This property is also located within the Galilee area, as a Federally Designated Opportunity Zone, created by the Tax Cuts and Jobs Act of 2017.

Unique opportunity for an owner occupier or savvy investor with current income and short term leases in place, Land is leased from State of RI.

In the center of the commercial and retail area of Galilee, and adjacent to the Summer heartbeats of Port Judith and Narragansett, this location is only 45 minutes from the City of Providence and 30 minutes from Newport in Rhode Island

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Tax ID/APN: NA IG 204 D

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,893 10,717 18,839
Median Age: 44.35 42.86 43.45
Households: 871 4,620 8,313


Photograph of Listing Agent

Michael A Alves

Keller Williams Realty Leading
ECCPN Member
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