230 George Washington Highway, Smithfield, RI 02917
Local realty services provided by:Empire Real Estate Group ERA Powered
230 George Washington Highway,Smithfield, RI 02917
$2,750,000
- 2.53 Acres
- Lots / Land
- Active
Listed by:gary balletto
Office:balletto realty
MLS#:1390554
Source:RI_STATEWIDE
Price summary
- Price:$2,750,000
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. 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)
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Home facts
- Listing ID #:1390554
- Added:431 day(s) ago
- Updated:September 02, 2025 at 01:55 PM
Structure and exterior
- Lot area:2.53 Acres
Utilities
- Water:Connected, Public, Water Available, Water Connected
Finances and disclosures
- Price:$2,750,000
- Tax amount:$4,628 (2023)
The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Empire Real Estate Group ERA Powered are marked with the MLS logo and detailed information about them includes the name of the listing brokers. Information deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved. Date Last Update: September 2, 2025New listings near 230 George Washington Highway
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