Commercial Real Estate Market in Narragansett, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
25 active listings and 325 off-market properties in Narragansett, RI. Commercial property asks $656/SF to buy and $15.65/SF/Yr to lease.
Market Trends
Narragansett, RI spans 52.3 square miles in Washington County, Rhode Island. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Narragansett, RI runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Narragansett, RI runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Narragansett, RI runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Narragansett, RI runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 80.3%
- Civic 13.6%
- Industrial 2.8%
- Commercial 2.5%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Residential Low Density
Residential High Density
Public Use
Residential Moderate Low Density
Residential Moderate Density
Narragansett, RI zones 8,333 acres across 14 districts. Commercial zoning covers 2.5% of zoned land, residential 80.3% and industrial 2.8%. The largest single district is Residential Low Density at 41.5%. For commercial buyers the practical constraint is that only 5.3% of land carries a commercial or industrial designation.
Residential Low Density (R-80)
This zone is composed of areas of the town which have severe physical limitations for development, or which are within or adjacent to wetlands, intertidal zones, coastal ponds, rivers or watersheds
Market overview
Demographics & Economy
Narragansett, RI has 33,901 residents in 20,829 households. Density runs 648 people per square mile. Median household income here is $108,206 and median gross rent $1,426 a month.
33,901
Population
20,829
Households
1.6
Avg Household Size
52
Median Age
61%
College-Educated
96%
High-School Grad
52.3 sq mi
ZIP Area
648
Density / Sq Mi
$108,206
Median Household Income
$51,520
Median Earnings
$1,426
Median Rent
$580,660
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| South Kingstown | — | $20.32 |
| North Kingstown | — | $15.87 |
| Jamestown | — | — |
| Charlestown | — | $15.75 |
Commercial property in Narragansett, RI asks $656/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Narragansett?
Commercial property in Narragansett, RI asks an average of $656 per square foot. The 8 most recent recorded sales traded at a median of $127/SF, so asking sits 416% above the achieved median.
How much does it cost to lease commercial space in Narragansett?
Asking lease rates in Narragansett, RI average $15.65 per square foot per year.
What zoning applies to commercial property in Narragansett?
Narragansett, RI zones 8,333 acres across 14 districts, of which 2.5% is commercial and 2.8% industrial. The largest single district is Residential Low Density at 41.5% of zoned land. This zone is composed of areas of the town which have severe physical limitations for development, or which are within or adjacent to wetlands, intertidal zones, coastal ponds, rivers or watersheds Residential zoning covers 80.3% and open space 0%.
Where does Realmo's Narragansett market data come from?
Realmo compiles Narragansett, RI figures from 8 recent recorded sales, 21 active sale listings, 4 active lease listings, 325 tracked off-market properties, the current Narragansett zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 21 active for-sale and 4 active for-lease listings in Narragansett, RI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 8,333 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
