New Flex Condominium
150 George Washington #11 Smithfield, RI 02917
For Sale
$350,000
Newly constructed flex condo with heated, air-conditioned open layout and a private half bath, suited to service, office, and retail uses.
Property Size1,250 SF
Price / SF$280
Days on Market57
Property Features for 150 George Washington #11
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Commercial
Building Details
Year Built
2026
Listing Agency:
J. CHRISTOPHER REAL ESTATE GRP
(401) 830-6906
Listed By:
THE JARROD LEWIS GROUP
Source:
Corcoran
Added: Jun 4
Changed: Jul 10
Last Checked: Jul 29 at 8:39AM
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 flexible business use. Each unit is planned with approximately 1,250 square feet of heated and air-conditioned space, a private half bath, and an open-concept layout that can support retail, office, contractor, showroom, trade, and service-based operations. Construction is currently underway, with anticipated completion in October 2026.
The development is located just off Routes 116 and 7, positioned to provide visibility and convenient access for customers and employees. The offering includes proximity to restaurants, shopping, fuel stations, hotels, and major highways, including I-295 and I-95, with access to both Massachusetts and Connecticut.
For buyers and operators, these condo units are built for adaptable day-to-day use, pairing climate-controlled interiors with a straightforward layout that can be tailored to a wide range of commercial concepts. Interior and exterior imagery provided to date reflects architectural renderings and may change as the project progresses. Tax assessments have not yet been established, and prospective buyers should request current pricing, availability, and floor plans for the specific unit.
The development is located just off Routes 116 and 7, positioned to provide visibility and convenient access for customers and employees. The offering includes proximity to restaurants, shopping, fuel stations, hotels, and major highways, including I-295 and I-95, with access to both Massachusetts and Connecticut.
For buyers and operators, these condo units are built for adaptable day-to-day use, pairing climate-controlled interiors with a straightforward layout that can be tailored to a wide range of commercial concepts. Interior and exterior imagery provided to date reflects architectural renderings and may change as the project progresses. Tax assessments have not yet been established, and prospective buyers should request current pricing, availability, and floor plans for the specific unit.
Key Highlights
- Newly constructed commercial condominium units (flex) designed for business use
- Each unit includes approximately 1,250 SF of heated and air‑conditioned space plus a private half bath
- Flexible open‑concept layout suited for retail, office, contractor, showroom, trade, and service businesses
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex condo with heated, air-conditioned open layout and a private half bath, suited to service, office, and retail uses.
Where is this flex space located?
The property is located at 150 George Washington #11 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 (flex) designed for business use; Each unit includes approximately 1,250 SF of heated and air‑conditioned space plus a private half bath; Flexible open‑concept layout suited for retail, office, contractor, showroom, trade, and service businesses
