Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    373 Eddie Dowling Highway North Smithfield, RI 2896

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $349,900

    Commercial land with high traffic count near Dowling Village.

    Type:Commercial
    Lot size:
    0.28 Acres
    Added:
    May 10, 2024
    Days on Market:
    717
    Last Refresh:
    Apr 25 at 6:32 am

    Property Features for 373 Eddie Dowling Highway

    General Information

    Standard status
    Active
    Lot size
    0.28 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    The Stearns McGee Team
    The Stearns McGee Team

    Listing agent The Stearns McGee Team License #S32155

    Listing office RE/MAX Properties

    Listing date May 10, 2024

    Source Liongatere

    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 RE/MAX Properties

    Overview

    Commercial Land Near Shopping Plaza

    This commercial land offers an opportunity to benefit from high traffic volume due to its location near the entrance of the Dowling Village shopping plaza. The plaza features anchor stores such as Lowe's, Kohl's, Walmart, and PetSmart. The property is approximately 0.28 acres in size. Access to the property requires permission and a scheduled appointment.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    North Smithfield
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.510427
    Latitude
    41.9736703

    Nearby Similar for Sale

    • $125,000

      Established Dry-Cleaning Business For Sale

      Turnkey dry-cleaning business in high-traffic plaza, North Smithfield, RI.
      175 Eddie Dowling Highway, North Smithfield, RI 02896
      View Details
    • $20

      North Smithfield Office Space Available

      Second floor office unit with high visibility and ample parking.
      250 Eddie Dowling Highway unit: 2, North Smithfield, RI 02896
      View Details
    • $750,000

      Commercial Land on Corner Lots

      Two adjacent corner lots suitable for various businesses.
      Eddie Dowling Highway, North Smithfield, RI 02896
      View Details
    • $225,000

      Equestrian Land Opportunity

      7+-acre horse-zoned lot near equestrian center in North Smithfield.
      Pound Hill Road, North Smithfield, RI 02896
      View Details
    • $375,000

      Corner Lot on Eddie Dowling Highway

      Corner lot suitable for various businesses with easy access.
      Eddie Dowling Highway, North Smithfield, RI 02896
      View Details
    • $375,000

      Commercial Lot on Eddie Dowling

      One-acre commercial lot with highway frontage in North Smithfield.
      Eddie Dowling Highway, North Smithfield, RI 02896
      View Details
    • $349,900

      27.55 Acre Parcel For Sale

      27.55-acre parcel in North Smithfield, Rhode Island.
      Douglas Pike, North Smithfield, RI 02896
      View Details
    • $299,900

      Versatile Medical/Office Space For Sale

      Nearly 3,000 sqft medical/office space with flexible layout.
      501 Great Road unit: 102-103, North Smithfield, RI 02896
      View Details
    • $200,000

      Commercial Land in High-Traffic Location

      0.62-acre lot in a high visibility location.
      1003 Victory Highway, North Smithfield, RI 02896
      View Details
    • $140,000

      Residential Lot in North Smithfield

      Half-acre lot ready for your dream home.
      Mendon Road, North Smithfield, RI 02896
      View Details
    • $275,000

      Equestrian Land Opportunity

      7+- acre lot zoned for horses near equestrian center.
      Pound Hill Road, North Smithfield, RI 02896
      View Details
    • $249,000

      North Smithfield Wooded Lot Opportunity

      2.8 acre wooded lot for new home construction.
      Old Smithfield lot: A, North Smithfield, RI 02869
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with high traffic count near Dowling Village.
    Where is this commercial land located?
    The property is located at 373 Eddie Dowling Highway North Smithfield, RI.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: High traffic location directly adjacent to Dowling Village shopping plaza.; Proximity to anchor stores like Lowe's, Kohl's, Walmart, and PetSmart.; Opportunity for business development due to high visibility.
    (401) 356-1519
    We can help!
    Listing Contact
    The Stearns McGee Team
    The Stearns McGee Team
    Real Estate License ID: S32155
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!