1. Rhode Island
  2. Smithfield
  3. 230 George Washington Highway
$2,750,000

230 George Washington Highway, Smithfield, RI 02917

  • 2 beds |
  • 2 baths |
  • 1,275 sqft
  • Property Icon Single-Family Home
  • Property Year Built Icon Built in 1938
  • Property Lot Size Icon2.53acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $2,157/sqft
  • Property List Date Icon Listed 1 month ago

Property Description

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)

Listing Status:
Active
Date Added:
July 21, 2025 at 05:00AM
Listing Office:
Balletto Realty : 401-432-7444
MLS ID:
1390560
  • Appliances: Electric Water Heater
  • Basement: FullUnfinished
  • Flooring: Other
  • A/C: Window Unit(s)
  • Heating: Hot WaterOil
  • Fireplace: Fireplaces: 0

This listing courtesy of Balletto Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

R

Raymond Laperche School

11 Limerock Rd, Smithfield, RI, 02917

Grades KG-5

1.52 miles away

V

Vincent J. Gallagher Middle School

10 Indian Run Trl, Smithfield, RI, 02917

Grades 6-8

2.50 miles away

S

Smithfield High School

90 Pleasant View Ave, Smithfield, RI, 02917

Grades 9-12

2.71 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.