Narragansett, Rhode Island: A Premier Destination for Commercial Real Estate

Introduction

Narragansett, Rhode Island, offers a burgeoning opportunity for commercial real estate (CRE) professionals, driven by its unique coastal appeal and strategic economic positioning. As a small yet vibrant town with a growing economy, Narragansett is emerging as a hub for industries such as tourism, marine services, and small-scale manufacturing. Its favorable location and economic initiatives make it an ideal spot for CRE investments.

Economic and Industry Overview

Narragansett's economy is primarily fueled by tourism, given its picturesque beaches and historical sites. The marine services industry also plays a significant role, with demand for commercial properties supporting boat manufacturing, repairs, and fishing operations. These industries drive the need for diverse property types, including retail spaces along the waterfront and industrial facilities for marine-related services.

The city benefits from regional economic development initiatives, such as the Rhode Island Commerce Corporation, which supports local business growth and infrastructure development.

Strategic Location and Transportation Infrastructure

Narragansett's strategic coastal location offers significant logistical advantages. It is well-connected by major highways, including Route 1, providing seamless access to Providence and Boston markets. The proximity to the Port of Providence and T.F. Green Airport enhances its appeal for businesses requiring robust distribution channels.

For accessible transportation information, refer to the Rhode Island Department of Transportation.

Commercial Real Estate Inventory & Zoning

Key Submarkets

• Downtown Narragansett: Dominated by retail and office spaces, benefiting from high foot traffic.
• Industrial Corridors: Located near major transport routes, these areas are ideal for manufacturing and marine services.

Asset Classes

• Retail: Concentrated in tourist areas with seasonal demand spikes.
• Industrial: Facilities supporting marine and light manufacturing industries.
• Office: Small-scale offices catering to local businesses and service providers.

Narragansett offers zoning incentives for developers, especially in designated growth areas. Explore the Narragansett Zoning Maps.

Major Employers and Institutions

Narragansett is home to prominent employers such as: - University of Rhode Island: A key driver for research and development needs. - Narragansett Bay Insurance Company: A significant presence in the local economy.

For a comprehensive list of businesses, visit the Narragansett Business Directory.

Notable Commercial Developments & Projects

Recent developments include mixed-use projects along the waterfront and revitalization efforts in the downtown area. These projects often involve public-private partnerships and are located within Opportunity Zones, encouraging investment through tax incentives.

For more project details, consult the Narragansett Planning Department.

Building Permits, Planning, and Development Tools

• Building & Safety Department
• Permitting Portal
• Parcel Map Viewer
• Planning Commission
• Development Code

Market Data & Economic Reports

Access public datasets and economic reports via: - Census Bureau - Narragansett Open Data Portal

Brevitas provides AI-powered aggregation of such data, offering real-time insights through its Narragansett CRE Dashboards.

Why Use Brevitas for Narragansett, Rhode Island CRE?

Brevitas stands out with its AI-driven CRE discovery tools, providing users with: - Real-time Market Alerts - Smart Property Pages - Dealroom Collaboration

Unique features include: - Auto-generated Listing Pages - Email and Landing Page Tools - Integration with Brokers and Developers - Exclusive Listings and Premium Exposure

Explore our platform to unlock the full potential of commercial real estate in Narragansett, Rhode Island.