Flex-Use Commercial Condominium
150 George Washington #10, Smithfield, RI 02917
For Sale
$350,000
Newly constructed flex condominium units with heated, air-conditioned space and a private half bath for multiple business uses.
Property Size1,250 SF
Price / SF$280
Days on Market160
Property Features for 150 George Washington #10
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Amenities
Central air
Ductless Cooling
Heat Pump Heating
Wooded
Building Details
Year Built
Listing Agency:
J. CHRISTOPHER REAL ESTATE GRP
(401) 830-6906
Listed By:
THE JARROD LEWIS GROUP
Source:
Corcoran
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 14 at 7:28AM
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
Ask AI about this property
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 suited for a range of business uses. Each unit is planned with approximately 1,250 square feet of heated and air-conditioned interior space, along with a private half bath and a flexible, open-concept layout. The interior and exterior depictions provided are architectural renderings and are subject to change as construction progresses.
The development is located just off Routes 116 and 7 and is positioned to provide visibility and accessibility in the Smithfield area. The project site offers convenient proximity to restaurants, shopping, fuel stations, hotels, and major highway connections including I-295 and I-95, supporting access between Massachusetts and Connecticut.
With an adaptable floor plan and built-in HVAC, these units can work for tenants and operators seeking a single space that can be configured for retail, office, contractor services, showroom, and other trade or service uses. Construction is currently underway, with anticipated completion in October 2026. Tax assessments have not yet been established, and availability, pricing, and floor plans can be provided upon request.
The development is located just off Routes 116 and 7 and is positioned to provide visibility and accessibility in the Smithfield area. The project site offers convenient proximity to restaurants, shopping, fuel stations, hotels, and major highway connections including I-295 and I-95, supporting access between Massachusetts and Connecticut.
With an adaptable floor plan and built-in HVAC, these units can work for tenants and operators seeking a single space that can be configured for retail, office, contractor services, showroom, and other trade or service uses. Construction is currently underway, with anticipated completion in October 2026. Tax assessments have not yet been established, and availability, pricing, and floor plans can be provided upon request.
Key Highlights
- Newly constructed commercial condominium units (Year built: 2026) with heated, air‑conditioned space
- Each unit offers approx. 1,250 SF of flexible open‑concept layout plus a private half bath
- Designed for multiple business uses including retail, office, contractor, showroom, trade, and service‑based businesses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,112
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,240
$282.2K
Cap Rate 7%
$201,600
$201.6K
Cap Rate 9%
$156,800
$156.8K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$22.5K $18.00/SF
− Vacancy
−$2.3K −$1.87/SF
EGI
$20.2K $16.13/SF
− OpEx
−$6.0K −$4.84/SF
NOI
$14.1K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,240
Cap Rate 7%
$201,600
Cap Rate 9%
$156,800
Alternative Uses
Best Use
Retail
$201.6K
$176.4K – $235.2K
NOI $14,112 @ 7.0% cap · market cap 4.03%
Second Best
Flex RnD
$110.4K
$96.6K – $128.8K
NOI $7,728 @ 7.0% cap · market cap 2.21%
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
170
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
$416,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Smithfield, RI
Properties on Market for Flex space in Smithfield
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex condominium units with heated, air-conditioned space and a private half bath for multiple business uses.
Where is this flex space located?
The property is located at 150 George Washington #10 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 (Year built: 2026) with heated, air‑conditioned space; Each unit offers approx. 1,250 SF of flexible open‑concept layout plus a private half bath; Designed for multiple business uses including retail, office, contractor, showroom, trade, and service‑based businesses
