Commercial Condo Flex
For Sale
$350,000
11-150 Washington Hwy, Smithfield, RI 02917
Newly constructed heated and air-conditioned flex condominium units include open layouts and a private half bath.
Property Size1,250 SF
Price / SF$280
Days on Market139
Property Features for 11-150 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 4
Changed: Oct 8
Last Checked: Oct 19 at 11:34AM
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
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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 offers newly constructed commercial condominium units designed for a range of business uses. Each unit includes approximately 1,250 square feet of heated and air-conditioned space, a private half bath, and a flexible open-concept layout that can accommodate retail, office, contractor, showroom, and service-based operations.
The development is located just off Routes 116 and 7, with visibility and accessibility to nearby dining, shopping, fuel stations, hotels, and major highways, including I-295 and I-95. The location provides convenient access between Massachusetts and Connecticut.
Construction is currently underway with anticipated completion in October 2026. Tax assessments have not yet been established, and the provided interior and exterior images are architectural renderings of the proposed development and are subject to change.
The development is located just off Routes 116 and 7, with visibility and accessibility to nearby dining, shopping, fuel stations, hotels, and major highways, including I-295 and I-95. The location provides convenient access between Massachusetts and Connecticut.
Construction is currently underway with anticipated completion in October 2026. Tax assessments have not yet been established, and the provided interior and exterior images are architectural renderings of the proposed development and are subject to change.
Key Highlights
- Newly constructed commercial condominium units with heated and air‑conditioned space, featuring an open‑concept layout and a private half bath
- Each unit offers approximately 1,250 sq ft of heated, air‑conditioned interior space
- Development is located just off Routes 116 and 7 with access to major highways I‑295 and I‑95 and routes to Massachusetts and Connecticut
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,157
Cap Rate
4.62%
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 4.62%
Second Best
Retail
$201.6K
$176.4K – $235.2K
NOI $14,112 @ 7.0% cap · market cap 4.03%
Theoretical Best
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed heated and air-conditioned flex condominium units include open layouts and a private half bath.
Where is this flex space located?
The property is located at 11-150 Washington Hwy Smithfield, RI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Newly constructed commercial condominium units with heated and air‑conditioned space, featuring an open‑concept layout and a private half bath; Each unit offers approximately 1,250 sq ft of heated, air‑conditioned interior space; Development is located just off Routes 116 and 7 with access to major highways I‑295 and I‑95 and routes to Massachusetts and Connecticut
