Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Flex Condo Near Beach Title is generated by Realmo AI

    236 Sand Hill Cove, Narragansett, RI 02882

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,900

    First-floor flex condo with deeded beach rights and versatile layout.

    Type:Commercial
    Property size:
    612 SF
    Price / SF:
    $816/SF
    Added:
    Jan 23, 2026
    Days on Market:
    118
    Last Refresh:
    Apr 5 at 9:13 pm

    Property Features for 236 Sand Hill Cove

    General Information

    Standard status
    Active
    Size
    612 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2011

    We can help!

    Listing Contact
    MIKE NAVOIAN

    Listing agent MIKE NAVOIAN

    Listing office WEICHERT REALTORS-ATLANTIC PRP

    Listing date Jan 23, 2026

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of WEICHERT REALTORS-ATLANTIC PRP

    HighLights

    • Deeded beach rights
    • Steps from the beach, restaurants, and Block Island Ferry
    • Versatile layout suitable for multiple uses (cabana, office, retail, food service)
    • First‑floor location
    • Low condo fees ($575 per quarter)
    • Built in 2011

    Overview

    This first-floor flex condo offers a versatile layout suitable for various uses, including office, retail, food service, or continued cabana enjoyment. It includes deeded beach rights. The property is located steps from the beach, restaurants, and the Block Island Ferry, offering exceptional convenience and flexibility. The unit's size is 612 square feet. Low condo fees are $575 per quarter.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Building Supply Auto Repair Shop Accounting Firm Big Box & Wholesale Store Kitchen & Bath Showroom Bar & Pub Department Store Hotel & Motel Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Narragansett
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.5115
    Latitude
    41.3764

    Nearby Similar for Sale

    • $5,000
      3,200 SF

      Restaurant/Bar Opportunity Near Scarborough Beach

      Fully built-out restaurant and bar near Scarborough State Beach.
      1 Angell Road, Narragansett, RI 02882
      View Details
    • $999,900
      1,728 SF

      Renovated Duplex in Narragansett Pier

      Updated duplex near the ocean with investment potential.
      194 S Pier Road, Narragansett, RI 02882
      View Details
    • $3,000
      1,200 SF

      Turnkey Takeout Concept Near Beach

      Seasonal takeout restaurant opportunity near Scarborough State Beach.
      1 Angell Road, Narragansett, RI 02882
      View Details
    • $7,500,000
      25,522 SF

      Narragansett Medical Office Redevelopment Opportunity

      25,222 sq ft medical office building on 2.6 acres.
      360 Kingstown Road, Narragansett, RI 02882
      View Details
    • $350,000
      1,800 SF

      Turnkey Pizza Business Opportunity

      Established pizza business for sale in Narragansett, Rhode Island.
      909 BOSTON NECK Road, Narragansett, RI 02882
      View Details
    • $1,175,000

      Water View Home Opportunity

      Updated home with rental history and expansion potential.
      26 Richard Smith Road, Narragansett, RI 02882
      View Details
    • $5,995,000

      Mixed-Use Coastal Property For Sale

      Rare mixed-use property with ocean views and multiple income streams.
      1 Angell Road, Narragansett, RI 02882
      View Details
    • $1,495,000
      2,358 SF

      Narragansett Duplex with Water Views

      Coastal duplex in Narragansett, walking distance to the ocean.
      6 MacAlder Street, Narragansett, RI 02882
      View Details
    • $499,900

      Versatile Condo Near Beach Access

      First-floor flex condo near beach, suitable for various uses.
      236 Sand Hill Cove Road, Narragansett, RI 02882
      View Details
    • $7,500,000
      25,522 SF

      Narragansett Redevelopment Opportunity

      25,222 SF medical office building on 2.6 acres.
      360 Kingstown, Narragansett, RI 02882
      View Details
    • $5,955,000
      11,459 SF

      Mixed-Use Coastal Property For Sale

      Mixed-use property with ocean views and multiple income streams.
      1 Angell Rd, Narragansett, RI 02882
      View Details
    • $89,900
      655 SF

      Narragansett Medical Office For Sale

      Ground level office space in Narragansett Medical Building.
      360 Kingstown #107, Narragansett, RI 02882
      View Details

    FAQs

    What type of property is this?
    Flex space - First-floor flex condo with deeded beach rights and versatile layout.
    Where is this flex space located?
    The property is located at 236 Sand Hill Cove Narragansett, RI.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Deeded beach rights; Steps from the beach, restaurants, and Block Island Ferry; Versatile layout suitable for multiple uses (cabana, office, retail, food service)
    (401) 783-2550
    We can help!
    Listing Contact
    MIKE NAVOIAN
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    236 Sand Hill Cove, Narragansett, RI 02882
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!