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    Versatile Medical/Office Space For Sale

    501 Great Road North Smithfield, RI 02896

    Claim this Listing
    For Sale
    $340,000

    COMMERCIAL - North Smithfield, RI

    Type:Office
    Property size:
    2,970 SF
    Price / SF:
    $114/SF
    Added:
    May 20, 2026
    Days on Market:
    54
    Last Refresh:
    Jul 12 at 2:06 am

    Property Features for 501 Great Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Parking
    50
    Security features
    Security System
    Interior features
    Ceiling Height (9 to 12 Ft)
    Standard status
    Active
    Size
    2,970 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8624

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1986
    Floors in Building
    1
    Number of units
    1
    Building materials
    Frame

    Listing agent Scott McGee License #232155

    Listing office Re/Max Properties 696 Douglas Pike, SMITHFIELD, RI

    Listing date May 20, 2026

    MLS# 1413091

    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.

    Investment Insights

    Based on property information with market context.

    This commercial property in North Smithfield, Rhode Island, offers approximately 2,970 square feet of space suitable for medical or general office use. The property features a versatile layout with designated examination rooms that can be adapted to various needs. Essential utilities, including sewer and water services, are already connected. The property benefits from a strong homeowner's association, ensuring property maintenance. Owning this office space offers the advantage of building equity compared to renting. Select existing medical equipment items are negotiable. The property is located in Providence County, with convenient access within North Smithfield.

    Local Financial Insights For Healthcare Medical

    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 $53.5k $18.00
    − Vacancy −$5.5k −$1.85
    EGI $48.0k $16.15
    − OpEx −$19.2k −$6.46
    NOI $28.8k $9.69
    2,970 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 40.00%

    Alternative Uses

    Best Use
    Office B
    $548.4K
    $479.9K – $639.8K (±1% cap)
    NOI $38,390 @ 7.0% cap · market cap 11.29%
    Second Best
    Healthcare Medical
    $411.1K
    $359.7K – $479.7K (±1% cap)
    NOI $28,779 @ 7.0% cap · market cap 8.46%
    Theoretical Best
    Multifamily LT 5
    $706.5K
    $618.2K – $824.2K (±1% cap)
    NOI $49,452 @ 7.0% cap · market cap 14.54%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Mary Ann Panarello Medical Clinic Dr. Jean A. Marcellot, ... Physician Stepka Family Dental: ... Dental Office Stepka Family Dental Dental Office Dumas Nicole Dental Office

    Suggested Use

    Restaurant Real Estate Agency Big Box & Wholesale Store Auto Repair Shop Building Supply Parking Lot & Garage HVAC Service Gym & Fitness Center (Bike/Boat/Book/etc) Store Bakery

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Medical Office Space - 2,970 SF medical/office space with flexible layout and utilities.
    Where is this medical office space located?
    The property is located at 501 Great Road North Smithfield, RI.
    What is the asking price?
    The asking price for this property is $340,000.
    Contact an agent
    (401) 232-3900
    We can help!
    Contact an agent
    Scott McGee
    Real Estate License ID: 232155
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