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.

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

Ryan M. Belmore

Ryan M. Belmore is the Owner & Publisher of What's Up Newp. Ryan is a member of Local Independent Online News (LION) Publishers. Send questions, tips, and story ideas to Ryan@whatsupnewp.com.