250 George Washington HWY new Save Request In-Person Tour Request Virtual Tour
Smithfield,RI 02917
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1390445
Annual Tax Amount $8,690
Tax Year 2023
Lot Size 3.688 Acres
Property Description
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. 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. SITE 2 (Lot 411) 250 George Washington Highway $2,982,000 Resident 42 units @ 71K per door $2,518,764 Retail - 21,950 ft. retail @ $45 per ft. = $987,750 - 15% vacancy = $839,588 AOI $2,518,763 Land Cost (3 years of income) $4,179,940 Replacement Cost (5 years income) $1,679,176 Developers Profit (2 years income) $5,500,764 Land Value/Sale Price (Lot 411)
Location
State RI
County Providence
Zoning PC
Exterior
Community Features Highway Access,Near Hospital,Near Schools,Public Transportation,Shopping,High Traffic Location,Street Lights
Utilities Available Cable Available,Electricity Available,Natural Gas Available,Municipal Utilities,Phone Available,Water Available,Water Connected
Building
Lot Description Level,Wooded,Wetlands
Sewer Sanitary
Water Connected,Public