250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield
250 George Washington Highway, Smithfield

250 George Washington Highway Smithfield

$5,500,000
160,639 sq ft

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The Property

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.

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SITE 2 (Lot 411) 250 George Washington Highway

$2,982,000 Resident 42 units @ 71K per door

$2,518,764 Retail – 21,950 ft.² retail @ $45 per ft.² = $987,750 – 15% vacancy = $839,588 AOI

$2,518,763 Land Cost (3 years of income)

$4,179,940 Replacement Cost (5 years income)

$1,679,176 Developers Profit (2 years income)

$5,500,764 Land Value/Sale Price (Lot 411)

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Listing Details

MLS Number

1390445

Lot Size:

3.69 acres

Features

  • Bus
  • Highway Access
  • Hospital
  • Interstate
  • Private School
  • Public School
  • Shopping
  • Rural
  • Suburban

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Listed by Balletto Realty

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