250 George Washington Highway,Smithfield, RI 02917
Smithfield, RI 02917
Description
Attention investors/developers: Be part of Rhode Island's next hottest area for development!! Pad ready - with Master plan approval for 42 residential units and 18,000 ft.² retail. Prime location, high traffic visibility, on the corner of George Washington Highway and Douglas Pike - close to 146 and 295. Zoned Planned Corporate, there are many uses possible. Opportunity for a combined purchase w/abutting property 230 George Washington Highway, totaling 6+ acres. Call for details. 250 George Washington Highway Residential Land Value 52 residential units × $75,000 per unit = $3,900,000 Retail Land Value 18,000 sq. ft. × $45 per sq. ft. = $810,000 gross annual rent Less 15% vacancy = $688,500 effective gross income Less 10% operating expenses = $619,650 NOI Retail land value: 3 years of NOI = $1,858,950 Proposed Land Value/Sale Price $3,900,000 residential value $1,858,950 retail value = $5,758,950
Details
| MLS # | 1421921 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 38 |
| Listing Provided By | Balletto Realty | Gary Balletto |
Features
| Zoning | PC |
|---|---|
| Acreage | 3.69 |
Exterior
| Lot Features | Rural, Suburban |
|---|---|
| Topography | Level, Wetlands, Wooded |
| Community Features | Bus, Highway Access, Hospital, Interstate, Private School, Public School, Shopping, Street Lights |
Utilities
| Utilities | Cable Connected, Electricity Connected, Gas, Gas Available, Municipal Water, Sanitary Sewers, Phone Connected, Water Available, Electricity Available, Natural Gas Available, Muncipal Water, Sewer Available |
|---|
Location
| Community Features | Bus, Highway Access, Hospital, Interstate, Private School, Public School, Shopping, Street Lights |
|---|
Taxes
| Tax Annual Amount | 8690 |
|---|---|
| Tax Assessed Value | 0 |
| Tax Lot | 379 |
| Tax Year | 2023 |
Area Information
| State | RI |
|---|---|
| County | Providence |
| City | Smithfield |
| Zip Code | 02917 |
| Area | Providence |
| Listing VS Median (in 02917) | |
Price: $5,758,000 low | high Med: $425,000 On site: 38 low | high Med: 6 | |
Market Activity 02917
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Learn More About This Property
| State | RI |
|---|---|
| County | Providence |
| City | Smithfield |
| Zip Code | 02917 |
| Area | Providence |
| Listing VS Median (in 02917) | |
Price: $5,758,000 low | high Med: $425,000 On site: 38 low | high Med: 6 | |