230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield
230 George Washington Highway, Smithfield

230 George Washington Highway Smithfield

$2,879,000
2 1.5 1,275 sq ft

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The Property

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.² 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

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Listing Details

MLS Number

1421919

Lot Size:

2.53 acres

Features

  • Basement: Full, Bulkhead, Unfinished
  • Bus
  • Commuter Bus
  • Highway Access
  • Private School
  • Restaurants
  • Schools
  • Heating: Oil, Forced Water
  • Heating Fuel: Oil, Forced Water
  • Type: Cape Cod
  • Year Built: 1938

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Market Trends for Single Family Homes
in Smithfield

  • Overview
    Homes for Sale Today40-95.2% decrease in inventory
    New on Market *21-32.3% decrease in new listings
    Avg. Asking Price/Sq.Ft. *$429.06$89 increase in List Price/Sq.Ft.
    Avg. Sale Price *$516,979$122,853 decrease in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *100.85%0.3% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$333.63$21 decrease in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *622 increase in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

    Contact Us

    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Balletto Realty
Email:
Phone: 401-432-7444

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