Residential Land with Home for Sale in Smithfield, Rhode Island
230 George Washington Hwy, Smithfield, RI 02917
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)
Location
- Street address
- 230 George Washington Hwy
- County
- Providence County
- Elevation
- 322 feet
Property details
- Acreage
- 2.53 acres
- Zoning
- PC
- MLS #
- SWMLS 1390560
- Posted
Property taxes
- 2023
- $4,628
Details and features
Listing
- Type
- Residential
- Subtype
- Single Family Residence
Exterior
- Parking Spaces
- 4
Structure
- Style
- Bungalow
- Heating
- Oil
Interior
- Rooms
- Bathroom x 2, Bedroom x 2
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| July 22, 2025 | New listing | $2,750,000 | — | SWMLS |