Stone Bridge Marina sells for $1.1M

PORTSMOUTH – Stone Bridge Marina, a 44-slip marina with a retail store and three-bedroom apartment, sold recently for $1.1 million, according to Lila Delman Real Estate International.
The commercially zoned property was the only marina available for sale in Rhode Island for the past several months, and attracted eight offers, according to Lila Delman’s Sales Associate Gregory Arakelian, the listing agent.
The property, at 17 Point Road, closed on April 13, sold to Stone Bridge Holdings LLC by Stonebridge Marina LLC, according to Arakelian. “I priced it right and it garnered a lot of attention. There are a lot of marina owners out there who have the formula down and want more.”
The wholesale seafood business that operates out of the ground-level retail space, Stonebridge Shellfish Co., will remain. The marina will be managed by Bruce White, a co-owner, who has extensive experience, and was formerly the general manager of Westwind Marina in Newport and is now manager of St. Thomas Yacht Club in the Virgin Islands.
Improvements will be made to the men’s and women’s bathrooms and the manager will be present on-site, according to Arakelian. Another retail space will be made available at the marina, in addition to the shellfish company.

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