Emily Christenbury
← INNOVATE Real Estate
Commercial at 250 George Washington Highway, Smithfield
Commercial at 250 George Washington Highway, Smithfield, photo 2 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 3 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 4 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 5 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 6 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 7 of 8
Commercial at 250 George Washington Highway, Smithfield, photo 8 of 8
8 photos

$5,758,000

250 George Washington Highway
Smithfield, RI 02917
Listed by Gary Balletto
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
2027

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

MLS #
1421918
Property type
Commercial
Subdivision
N/A
Status
Active
Days on market
10
On market date
August 23, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
3.6878 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
1.52 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
Lincoln Middle School
2.54 mi away · Grades 6-8
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
800
Student:teacher ratio
17.0:1
District
Lincoln
High
North Smitfield HS
2.77 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
528
Student:teacher ratio
12.3:1
District
North 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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Adjust tax / insurance estimates
% / yr
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/mo
Est. monthly payment
$34,825/mo
$1,151,600 down
$4,606,400 loan
Principal & interest$29,877
Property tax (est.)$4,798
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 27 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.