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May 25, 2017

Photo Credit: Lila Delman Real Estate International

Tiverton Marina Sells For $475,000


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A 14-slip marina located at 211 Riverside Drive in Tiverton has sold for $475,000 at full asking price with limited time on market, according to Lila Delman Real Estate International.

Located 800 feet from the Sakonnet River Expressway with prime visibility, the commercial waterfront property has 1,182 square feet of retail space and 15 on-site parking spaces.

“A hidden gem, this 14-slip marina on sheltered deep water in the Tiverton Waterfront District sold immediately with backup offers, which speaks to the demand for income producing maritime properties,” said listing agent Greg Arakelian, Lila Delman Real Estate International, in a press release.

This is the second marina on the Sakonnet River Arakelian has sold in the last 2 years. He sold a 44-slip marina in Portsmouth in April, 2015 for $1.1 million. “Lila Delman Real Estate International has been recognized for many years as the preeminent broker for luxury residential real estate in Rhode Island, and it is exciting to be a part of its effort to expand our presence in the commercial market.” continued Arakalian.

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Greg Arakelian, Sales Associate, Lila Delman Real Estate International, recently listed the Perry Mill Wharf in Newport for $28,000,000.

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About Ryan Belmore,

Ryan Belmore, a Newport resident and life-long Rhode Islander, is the Editor & Publisher of www.whatsupnewp.com. Belmore is an on-air personality on Radio Newport 105.9FM, on the Board of Directors for Fort Adams Trust, and is the organizer of the Newport Holiday Stroll. Belmore was the digital/social media coordinator for the '15 Volvo Ocean Race Newport stopover and has previously worked for the New England Patriots, American Cancer Society and hosted a radio talk show on AM 1540 WADK. Contact Ryan by phone at 401-662-1653, by e-mail at Ryan@whatsupnewp.com or on Twitter at @Ryan_Belmore.