Map
Listed price in listed location currency (USD).
$2,879,000

000

MLS® 1421917

Overview

Key Facts

Type 
Levels Commercial Sale
Size 41775 sqft
Garage 
Taxes $4,628
Days Active 2
Lot Size 2.53 Acres
Approx. Age 2025
Avg. Price Per Sqft $68
MLS® Number 1421917

Property Address: 230 Washington Hwy, Smithfield, RI, 02917-1823

Average square foot calculated using Size range provided by listing agent.

Description

Attention investors/developers: Buy this single-family home now and develop the property later. Be part of Rhode Island's next hottest area for development!! Pad-ready with Master plan approval for 21 residential units and 9000 ft. retail. Prime location, high traffic visibility, next to corner lot of 250 George Washington Highway and Douglas Pike - close to 146 and 295. Zoned Planned Corporate and being part of the Overlay District there are many uses possible. Currently on site exists a single-family home. Opportunity for a combined purchase w/abutting property 250 George Washington Highway, totaling 6+ acres. Call for details. 230 George Washington Highway Residential Land Value 26 residential units $75, 000 per unit = $1, 950, 000 Retail Land Value 9, 000 sq. ft. $45 per sq. ft. = $405, 000 gross annual rent Less 15% vacancy = $344, 250 effective gross income Less 10% operating expenses = $309, 825 NOI Retail land value: 3 years of NOI = $929, 475 Proposed Land Value/Sale Price $1, 950, 000 residential value $929, 475 retail value = $2, 879, 475
MLS® Number1421917
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age2025
Basement
Driveway
Garage Spaces
Heat
A/C

Extras

Map

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