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Former Town Library in Urban Renewal Zone 35 Kingstown Rd 9,139 SF of Retail Space Available in Narragansett, RI 02882
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 9,139 SF | Negotiable | $10.95 /SF/YR $0.91 /SF/MO $100,072 /YR $8,339 /MO | Triple Net (NNN) |
1st Floor
• 9,139± SF Building • 33,200± SF of Land • Crawl Space Basement • Second-Floor Mezzanine • Zoned Urban Renewal (U-R) • Just Off Ocean Road • 1 Mile to RT-1 • Seasonal Walking Traffic The Town of Narragansett is seeking to implement either a long-term lease of the library building for renovation, and/or a long-term lease of the site for reconstruction for development of appropriate businesses and/or residences. The Town may consider zoning revisions as an incentive to achieve the Town’s vision to: Enhance the quality of life as a place to live, work and recreate through revitalization of the Pier Village and surrounding area. Conserve historical / cultural resources of the area and strengthen the link to the surrounding developments. Encourage compatible forms of development, possibly including residential, mixed-use, commercial development and/or cultural development which will maintain and reinforce the overall historic character of the area.
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 9,139 SF | Gross Leasable Area | 9,139 SF |
| Property Type | Retail | Year Built/Renovated | 1977/1997 |
| Total Space Available | 9,139 SF |
| Property Type | Retail |
| Gross Leasable Area | 9,139 SF |
| Year Built/Renovated | 1977/1997 |
About the Property
• 9,139± SF Building • 33,200± SF of Land • Crawl Space Basement • Second-Floor Mezzanine • Zoned Urban Renewal (U-R) • Just Off Ocean Road • 1 Mile to RT-1 • Seasonal Walking Traffic The Town of Narragansett is seeking to implement either a long-term lease of the library building for renovation, and/or a long-term lease of the site for reconstruction for development of appropriate businesses and/or residences. The Town may consider zoning revisions as an incentive to achieve the Town’s vision to: Enhance the quality of life as a place to live, work and recreate through revitalization of the Pier Village and surrounding area. Conserve historical / cultural resources of the area and strengthen the link to the surrounding developments. Encourage compatible forms of development, possibly including residential, mixed-use, commercial development and/or cultural development which will maintain and reinforce the overall historic character of the area.
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Former Town Library in Urban Renewal Zone | 35 Kingstown Rd
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