Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Smithfield Commercial Space Title is generated by Realmo AI

    1114 Douglas Pike, Smithfield, RI 02917

    View on Map
    Claim this Listing
    For Lease
    $4,500/Mo $16 SF/Yr (calc)

    Versatile 3,309 SF space ideal for restaurant, retail, or office.

    Type:Commercial
    Property size:
    3,309 SF
    Added:
    Oct 14, 2025
    Days on Market:
    229
    Last Refresh:
    Apr 1 at 8:53 pm

    Property Features for 1114 Douglas Pike

    General Information

    Standard status
    Active
    Size
    3,309 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Michael Alves
    Michael Alves

    Listing agent Michael Alves License #REC.0016995

    Listing office HomeSmart Professionals Real Estate

    Listing date Oct 14, 2025

    Source Corcoran

    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 HomeSmart Professionals Real Estate

    HighLights

    • High‑visibility location on Douglas Pike with strong local traffic
    • Boasting 3,309 SF of rentable space plus 1900 SF storage
    • Ample on‑site parking
    • Adaptable layout suitable for restaurant, retail, or professional use
    • Close proximity to Bryant University and Fidelity Investments
    • Signage opportunities along a busy corridor

    Overview

    This property presents a leasing opportunity in a location with high visibility. Previously occupied by Parente’s Restaurant since 1983, the property features a flexible layout suitable for restaurant, retail, or professional purposes. The rentable space measures 3,309 square feet, complemented by an additional 1,900 square feet of storage space. The site benefits from its proximity to Bryant University and Fidelity Investments, generating substantial local traffic. Situated along Douglas Pike, the property offers visibility and accessibility to major routes and nearby amenities. On-site parking is available. Signage opportunities are present along the corridor. The location is suitable for a restaurant, café, retail establishment, or service-oriented business. The property is located near Smithfield’s commercial centers.
    Location Intelligence

    Current Use by Public Records

    Parente's Restaurant Restaurant

    Suggested Use

    Restaurant Law Firm Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithfield
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5306131
    Latitude
    41.9240552

    Nearby Similar for Lease

    • $22 SF/Yr
      800-800 SF

      Wedgewood Plaza

      800 SF retail/office space in high-visibility plaza on Rt. 7.
      151 Douglas Pike, Unit 8, Smithfield, RI 02917
      View Details
    • $4,500/Mo
      5,209 SF

      Adaptable Retail/Restaurant/Office Space

      High-visibility Smithfield location suitable for retail, restaurant, or office.
      1114 Douglas Pike, Smithfield, RI 02917
      View Details
    • $1.00 SF/Yr
      3,500 SF

      Smithfield Warehouse with Office Space

      3500 sq ft warehouse with office near Route 295.
      34 Lark Industrial Parkway #B, Smithfield, RI 02828
      View Details
    • $6,200/Mo
      6,200 SF

      Industrial Flex Space For Lease

      6200 sq ft flex space near Route 295.
      37 Lark Industrial Parkway #M, Smithfield, RI 02828
      View Details
    • $1.00 SF/Yr
      3,500 SF

      Smithfield Warehouse with Office Space

      3500 sq ft warehouse with office near Route 295.
      34 Lark Industrial #B, Smithfield, RI 02828
      View Details
    • $7,500/Mo
      6,200 SF

      Industrial Space Near Route 295

      6,200 sq ft industrial space with offices and warehouse.
      37 Lark Industrial #M, Smithfield, RI 02828
      View Details
    • $18 SF/Yr
      550 SF

      Retail Space Available For Rent

      Retail space available for rent in Providence County.
      373 Farnum Pike, Smithfield, RI 02917
      View Details
    • $1,650/Mo
      1,100 SF

      Smithfield Garage Space For Rent

      One-bay garage with half bath and 10' door.
      17 Industrial Drive, Smithfield, RI 02917
      View Details
    • $16 SF/Yr
      3,309 SF

      Smithfield Retail/Office Leasing Opportunity

      Versatile space near Bryant University and Fidelity Investments.
      1114 Douglas, Smithfield, RI 02917
      View Details
    • $11 SF/Yr
      3,000 SF

      Smithfield Flex Space Available

      Multi-tenant flex building with office and warehouse space.
      25 Thurber Blvd, Smithfield, RI
      View Details
    • $18 SF/Yr
      4,147 SF

      First-Class Office Building in Smithfield

      2-story office building with ample parking and highway access.
      37 Thurber Blvd, Smithfield, RI
      View Details
    • $1,650/Mo
      1,100 SF

      Smithfield Garage Space For Rent

      One-bay garage with half bath and 10' door.
      17 Industrial, Smithfield, RI 02917
      View Details

    FAQs

    What type of property is this?
    Restaurant - Versatile 3,309 SF space ideal for restaurant, retail, or office.
    Where is this restaurant located?
    The property is located at 1114 Douglas Pike Smithfield, RI.
    What is the lease rate?
    The lease rate is $4,500 /Mo.
    What are key features of this property?
    This property features: High‑visibility location on Douglas Pike with strong local traffic; Boasting 3,309 SF of rentable space plus 1900 SF storage; Ample on‑site parking
    (401) 921-5011
    We can help!
    Listing Contact
    Michael Alves
    Michael Alves
    Real Estate License ID: REC.0016995
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1114 Douglas Pike, Smithfield, RI 02917
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!