294 Waterman Avenue, Smithfield, RI 02917
COMMERCIAL - Smithfield, RI
- Added:
- Mar 12, 2025
- Days on Market:
- 459
- Last Refresh:
- Jun 13 at 4:06 am
Property Features for 294 Waterman Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- R20
- Rooms
- Basement
- Parking
- 25
- Security features
- Security
- Interior features
- Ceiling Height (9 to 12 Ft)
- Basement
- Full
- Standard status
- Active
- Size
- 3,608 SF
- Lot size
- 0.41 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8230
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Natural Gas, Baseboard
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1950
- Number of units
- 1
- Building materials
- Frame
Listing agent Edward West License #C9995 (401) 353-2200
Listing office Re/Max Preferred 1417 Douglas Avenue, North Providence, RI (401) 353-2200
Listing date Mar 12, 2025
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Totally renovated restaurant and bar interior
- Recent exterior improvements include a new roof and siding
- Ceiling heights range from 9 to 12 ft
- Central air with natural gas baseboard heating
- Public water and public sewer connections
- Zoned R20; allowable commercial use is restricted to a food and beverage operation (previously approved for outdoor dining)
Overview
Located at 294 Waterman Avenue in Smithfield, Rhode Island, the site sits in a mixed suburban setting. The property’s zoning is R20, which restricts the allowable commercial use to a food and beverage operation.
For operators or buyers seeking a permitted food-and-beverage concept, the zoning alignment is a key practical factor. With the recent exterior and interior renovations and prior outdoor dining approval already on record, the building is positioned to support a restaurant and bar use without requiring the next owner to start from scratch.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.9k | $18.00 |
| − Vacancy | −$6.7k | −$1.85 |
| EGI | $58.3k | $16.15 |
| − OpEx | −$14.6k | −$4.04 |
| NOI | $43.7k | $12.11 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Smithfield
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.495344
- Latitude
- 41.873049
