NARRAGANSETT, RI – February 28, 2018 – Lila Delman Real Estate continues its history of excellence with the sale of 360 South Pier Road in Narragansett for $1,300,000. This represents the highest commercial mixed multi use sale in Narragansett since February 2007, according to data from the Rhode Island Statewide MLS.* Gregory Arakelian, Senior Commercial Consultant, represented the seller.
“The sale of Narragansett’s beloved Ocean Club speaks to the growing demand for large retail in Southern Rhode Island, where more regionals and nationals are taking notice of the increasingly attractive demographics and lack of commercial competition in the southern half of the state,” commented Gregory Arakelian.
The Ocean Club is sited on 1.8 acres across from the Salt Pond Shopping Center. The property features a 20,000 square-foot indoor arena with 150 parking spaces.
*This representation is based on information from the Rhode Island Association of Realtors (alternatively, from State Wide MLS) for the period of February 7, 2007 – February 28, 2018. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market.