$2,879,000
About this home
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
Property details
- MLS #
- 1421917
- Property type
- Commercial
- Subdivision
- N/A
- Status
- Active
- Days on market
- 10
- On market date
- August 30, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 2.53 acres
Location
Get directions →Nearby schools
Within 10 miles · public school directory data (NCES)
- Enrollment
- 319
- Student:teacher ratio
- 16.0:1
- District
- Smithfield
- Enrollment
- 538
- Student:teacher ratio
- 13.1:1
- District
- Smithfield
- Enrollment
- 791
- Student:teacher ratio
- 13.4:1
- District
- Smithfield
Walkability
Blended score for Smithfield's center: EPA's National Walkability Index (street network, transit, land-use mix) combined with nearby-amenity density. 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Smithfield, from live MLS data.
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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 15 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.