See all 8 photos
8 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$2,750,000
Est. payment /mo
2.53 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1390554
HOA Y/N No
Annual Tax Amount $4,628
Tax Year 2023
Lot Size 2.530 Acres
Acres 2.53
Property Description
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. 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. 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 Schools, Public Transportation, Restaurant, Street Lights
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Water Available, Water Connected
Topography Level
Building
Lot Description Level, Wooded, Wetlands
Water Connected, Public
Others
Senior Community Yes
Tax ID 230GEORGEWASHINGTONHWYSMTH
Read Less Info
© 2025 State-Wide Multiple Listing Service. All rights reserved.
Listed by Balletto Realty