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About This Home
This 2-bedroom, 2-bathroom single family at 230 George Washington Highway in Smithfield, RI is listed for $2,750,000 ($2,157 per sqft). Built in 1938, the home offers 1,275 sqft of living space on a 2.53 acres lot.
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.
SITE 2 (Lot 411) 250 George Washington Highway $2,982,000 Resident 42 units @ 71K per door $2,518,764 Retail - 21,950 ft.2 retail @ $45 per ft.2 = $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)
Key Features
- Built in 1938
- 2.53 acre lot
- 2 stories
- 4 parking spaces
Property Details
Amenities
Monthly Cost Estimate
$14,708/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
230 George Washington Highway
Smithfield, RI 02917
Property Details
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 2-bedroom, 2-bathroom single family at 230 George Washington Highway is listed at $2,750,000 ($2,157/sqft). The estimated monthly payment is $11,917 based on 20% down at 6.5% interest.
Key features include: Built in 1938, 2.53 acre lot, 2 stories, 4 parking spaces.
This property is listed by Gary Balletto and can be reached at (401) 432-7444 or garyballetto@gmail.com.