Listing Courtesy of: Gary Balletto - Balletto Realty
401-432-7444
$2,750,000
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230 George Washington Highway Smithfield, RI 02917
Single Family
Residence
2
Beds
2
Baths
...
Bed/Bath
1,275
Sq. Ft.
Property Activity
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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 lo...t 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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MLS#
1390560
Property Type
Single Family
Bedrooms
2
Bathrooms
1 Full/1 Half
Year Built
1938
Square Feet
1,275
sq. ft
Lot Size
2.53
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