250 George Washington Highway Smithfield

$5,758,000
160,639 sq ft

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.

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

Read more

Listing Details

MLS Number

1421921

Lot Size:

3.69 acres

Features

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

See more features

Market Trends for Land
in Smithfield

  • Overview
    Homes for Sale Today10-44.4% decrease in inventory
    New on Market *2100% increase in new listings
    Avg. Asking Price/Sq.Ft. *$0.00$0 increase in List Price/Sq.Ft.
    Avg. Sale Price *$321,000$321,000 increase in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *98.02%100% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$0.00$0 increase in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *9696 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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