$5,758,000
250 George Washington Highway
Smithfield, RI 02917
About This Home
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
Property Details
Location
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The data relating to real estate for sale on this website comes from the Internet Data Exchange (IDX) program of the State-Wide Multiple Listing Service. Real estate listings held by brokerage firms other than Fab Living Realty are marked with the MLS logo and detailed information about them includes the name of the listing broker.
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MLS # 1421918