Emily Christenbury
← INNOVATE Real Estate
Commercial at 230 George Washington Highway, Smithfield
Commercial at 230 George Washington Highway, Smithfield, photo 2 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 3 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 4 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 5 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 6 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 7 of 8
Commercial at 230 George Washington Highway, Smithfield, photo 8 of 8
8 photos

$2,879,000

230 George Washington Highway
Smithfield, RI 02917
Listed by Gary Balletto
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
2025

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

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
Raymond LaPerche School
1.53 mi away · Grades -1-5
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
319
Student:teacher ratio
16.0:1
District
Smithfield
Middle
Vincent J. Gallagher Middle
2.52 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
538
Student:teacher ratio
13.1:1
District
Smithfield
High
Smithfield High School
2.74 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
791
Student:teacher ratio
13.4:1
District
Smithfield

Walkability

Blended score for Smithfield's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

62
Walkable
out of 100
EPA National Walkability Index
12.7 / 20 -- Above average walkable
Google Places amenity density
60 / 100
Restaurants & cafes16
Grocery stores0
Parks1
Schools5
Transit stops12
Pharmacies0

Market position

How this listing compares to current activity in Smithfield, from live MLS data.

On the market 10 days -- 38 fewer days than Smithfield's current average of 48 days.
For reference, the median list price across 137 active listings in Smithfield right now is $539,900.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$17,488/mo
$575,800 down
$2,303,200 loan
Principal & interest$14,939
Property tax (est.)$2,399
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 20 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.