New Flex Commercial
For Sale
$399,000
1-150 Washington Hwy, Smithfield, RI 02917
Newly constructed flex-style commercial condos with heated, air-conditioned space and private half baths for a range of service and showroom uses.
Property Size1,250 SF
Price / SF$319.20
Days on Market148
Property Features for 1-150 Washington Hwy
General Information
Standard status
Active
Size
1,250 SF
Additional Details
Highway Access
Yes
Listing Agency:
J. Christopher Real Estate Grp
Listed By:
The Jarrod Lewis Group
(401) 830-6906
Source:
Exprealty
Added: Jun 1
Changed: Oct 25
Last Checked: Oct 24 at 11:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J. Christopher Real Estate Grp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Mowry Hill Commons presents newly constructed commercial condominium units designed for flexible business use. Each unit is planned to include approximately 1,250 square feet of heated and air-conditioned space, a private half bath, and a flexible open-concept layout that can support retail, office, contractor, showroom, trade, and service-based operations.
The development is located just off Routes 116 and 7 in Smithfield, Rhode Island. The offering is positioned for convenient visibility and access, with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, providing straightforward connectivity to both Massachusetts and Connecticut.
For tenants and buyers, these units are suited to businesses that need a versatile interior plan with utility-ready comfort and a dedicated private restroom within each suite. Construction is currently underway, with anticipated completion in October 2026, and interior and exterior images are architectural renderings subject to change. Tax assessments have not yet been established, and interested parties should contact for pricing, availability, floor plans, and complete project details.
The development is located just off Routes 116 and 7 in Smithfield, Rhode Island. The offering is positioned for convenient visibility and access, with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, providing straightforward connectivity to both Massachusetts and Connecticut.
For tenants and buyers, these units are suited to businesses that need a versatile interior plan with utility-ready comfort and a dedicated private restroom within each suite. Construction is currently underway, with anticipated completion in October 2026, and interior and exterior images are architectural renderings subject to change. Tax assessments have not yet been established, and interested parties should contact for pricing, availability, floor plans, and complete project details.
Key Highlights
- Newly constructed commercial condominium units with approx. 1,250 SF of heated, air‑conditioned space per unit
- Each unit includes a private half bath and a flexible open‑concept layout for retail, office, contractor, showroom, trade, and service uses
- Development location just off Routes 116 and 7 for access to major highways including I‑295 and I‑95
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,157
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,140
$323.1K
Cap Rate 7%
$230,814
$230.8K
Cap Rate 9%
$179,522
$179.5K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$25.1K $20.04/SF
− Vacancy
−$3.5K −$2.81/SF
EGI
$21.5K $17.23/SF
− OpEx
−$5.4K −$4.31/SF
NOI
$16.2K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,140
Cap Rate 7%
$230,814
Cap Rate 9%
$179,522
Alternative Uses
Best Use
Office B
$230.8K
$202.0K – $269.3K
NOI $16,157 @ 7.0% cap · market cap 4.05%
Second Best
Retail
$201.6K
$176.4K – $235.2K
NOI $14,112 @ 7.0% cap · market cap 3.54%
Theoretical Best
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02917, RI
14,738
Population
5,119
Households
2.9
Avg Household Size
38
Median Age
38%
College-Educated
92%
High-School Grad
21.4 sq mi
ZIP Area
689
Density / Sq Mi
$106,772
Median Household Income
$44,229
Median Earnings
$988
Median Rent
$416,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex-style commercial condos with heated, air-conditioned space and private half baths for a range of service and showroom uses.
Where is this flex space located?
The property is located at 1-150 Washington Hwy Smithfield, RI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Newly constructed commercial condominium units with approx. 1,250 SF of heated, air‑conditioned space per unit; Each unit includes a private half bath and a flexible open‑concept layout for retail, office, contractor, showroom, trade, and service uses; Development location just off Routes 116 and 7 for access to major highways including I‑295 and I‑95
