Flex Space Condominium
12-150 Washington Hwy Smithfield, RI 02917
12-150 Washington Hwy, Smithfield, RI, 02917
$350,000
For Sale
$350,000
Newly constructed commercial condominium units offer flexible open layouts with heated and air-conditioned space.
Property Size1,250 SF
Price / SF$280
Days on Market49
Property Features for 12-150 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 4 Updated: Jul 22 at 2:03AM Checked: Jul 22 at 7:07AM
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 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 support retail, office, contractor, showroom, trade, and service-based operations.
The development is located just off Routes 116 and 7 and is intended to provide visibility and accessibility, with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, supporting convenient access between Massachusetts and Connecticut.
Construction is currently underway with anticipated completion in October 2026. Tax assessments have not yet been established, and interior and exterior images shown are architectural renderings that are subject to change.
The development is located just off Routes 116 and 7 and is intended to provide visibility and accessibility, with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, supporting convenient access between Massachusetts and Connecticut.
Construction is currently underway with anticipated completion in October 2026. Tax assessments have not yet been established, and interior and exterior images shown are architectural renderings that are subject to change.
Key Highlights
- Newly constructed commercial condominium units with approximately 1,250 SF of heated and air‑conditioned space per unit
- Each unit includes a private half bath and a flexible open‑concept layout for a variety of business uses
- Construction is underway with anticipated completion in October 2026
Local 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 4.62%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Newly constructed commercial condominium units offer flexible open layouts with heated and air-conditioned space.
Where is this flex space located?
The property is located at 12-150 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 approximately 1,250 SF of heated and air‑conditioned space per unit; Each unit includes a private half bath and a flexible open‑concept layout for a variety of business uses; Construction is underway with anticipated completion in October 2026
