New Flex Commercial
1-150 Washington Hwy Smithfield, RI 02917
For Sale
$399,000
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 Market56
Property Features for 1-150 Washington Hwy
General Information
- Standard status
- Active
- Size
- 1,250 SF
Listing Agency:
J. Christopher Real Estate Grp
(401) 830-6906
Listed By:
The Jarrod Lewis Group
(401) 830-6906
Source:
Exprealty
Added: Jun 1
Changed: Jul 10
Last Checked: Jul 25 at 3:16PM
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
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 For Office B
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 | $25.1k | $20.04 |
| − Vacancy | −$3.5k | −$2.81 |
| EGI | $21.5k | $17.23 |
| − OpEx | −$5.4k | −$4.31 |
| NOI | $16.2k | $12.93 |
1,250 SF · lease $20.04/SF/yr · vacancy 14.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
FAQs
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
