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Bryant Da Cruz

bryant@thelegacygroup.net +1(401) 216-4777

$ 5,758,000

Est. payment -/mo

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250 George Washington HWY Smithfield, RI 02917

83,550 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 83,550 sqft

Price per Sqft $68

MLS Listing ID 1421918

HOA Y/N No

Abv Grd Liv Area 83,550

Annual Tax Amount $8,690

Tax Year 2023

Lot Size 3.688 Acres

Acres 3.6878

Property Sub-Type Commercial

Property 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. 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

Location

State RI

County Providence

Zoning PC

Exterior

Community Features Highway Access, Near Hospital, Near Schools, Public Transportation, Shopping, High Traffic Location, Street Lights

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Municipal Utilities, Phone Available, Sewer Available, Water Available, Water Connected

Street Surface Asphalt

Building

Lot Description Wetlands

Sewer Sanitary

Water Connected, Public

New Construction No

Others

Tax ID 250GEORGEWASHINGTONHWYSMTH

Virtual Tour https://tour.RiLiving.com/250-George-Washington-Highway-Smithfield-RI-02917--1421918

Listed by Balletto Realty

Bryant Da Cruz

Broker Associate License ID: REB.0019171

+1(401) 216-4777

Bryant Da Cruz

250 George Washington HWY Smithfield, RI 02917

Key Details

Location

Exterior

Building

Others

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250 George Washington HWY