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    Commercial Condominium Flex Unit Title is generated by Realmo AI

    150 George Washington #7-12, Smithfield, RI 02917

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    Claim this Listing
    New
    For Sale
    $350,000

    Newly constructed flex condominium units with heated, air-conditioned open space and a private half bath.

    Type:Commercial
    Property size:
    1,250 SF
    Price / SF:
    $280/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 2:29 am

    Property Features for 150 George Washington #7-12

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2026

    We can help!

    Listing Contact
    THE JARROD LEWIS GROUP

    Listing agent THE JARROD LEWIS GROUP

    Listing office J. CHRISTOPHER REAL ESTATE GRP

    Listing date Jun 2, 2026

    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 J. CHRISTOPHER REAL ESTATE GRP

    HighLights

    • Newly constructed commercial condominium units; Year built 2026
    • Approximately 1,250 SF of heated, air‑conditioned space per unit with a private half bath
    • Flexible open‑concept layout suited for retail, office, contractor, showroom, trade, and service uses
    • Construction underway with anticipated completion in October 2026
    • Located just off Routes 116 and 7 with access to I‑295 and I‑95
    • Taxes not yet established; interior/exterior images are architectural renderings and subject to change

    Overview

    Mowry Hill Commons offers newly constructed commercial condominium units suited for a range of business uses. Each unit is designed with 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. Construction is currently underway, with anticipated completion in October 2026, and interior and exterior materials shown in listings are architectural renderings subject to change.

    The development is located just off Routes 116 and 7, providing visibility and accessibility for customer-facing and service needs. The property is positioned near restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95. Access to both Massachusetts and Connecticut is described as convenient based on the nearby roadway connections.

    For buyers looking for a controlled, condominium-style commercial space, these units provide an adaptable interior plan with utilities tied to a heated and air-conditioned envelope. The open concept can accommodate a variety of tenant layouts while maintaining a private half bath within the unit. Since tax assessments have not yet been established and pricing and availability can vary by unit, interested parties should request current details, floor plans, and the available unit options.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Smithfield
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5308971
    Latitude
    41.9129974

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    FAQs

    What type of property is this?
    Flex space - Newly constructed flex condominium units with heated, air-conditioned open space and a private half bath.
    Where is this flex space located?
    The property is located at 150 George Washington #7-12 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; Approximately 1,250 SF of heated, air‑conditioned space per unit with a private half bath; Flexible open‑concept layout suited for retail, office, contractor, showroom, trade, and service uses
    (401) 830-6906
    We can help!
    Listing Contact
    THE JARROD LEWIS GROUP
    Learn More
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    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.

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