$2,750,000 ($2,156.86 per sqft)

Est. Mortgage $13,367/mo *

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230 George Washington Highway, Smithfield, RI, 02917

230 George Washington Highway, Smithfield, RI, 02917
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4 rooms

2 beds

1 Full / 1 Half baths

1938

Bungalow

1,275 sqft

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)

Status:

Active

Type:

Single-family residential

Zoning:

PC

Frontage:

107

Garage:

No Garage

Heating:

Hot Water, Oil

Cooling:

Window Unit(s)

Basement:

Full, Unfinished

Parking:

4-car

Acreage:

2.53

Est. Taxes:

$4,628

Construction

Wood Siding

Utilities

Water Available

Amenities:

Highway Access, Near Schools, Public Transportation, Restaurant

Days on Market:

10

Appliances:

Electric Water Heater

MLS #:

1390560

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Balletto Realty 401-432-7444