New Retail/Office Flex
150 George Washington Highway Unit 9, Smithfield, RI 02917
For Sale
$350,000
Newly constructed flex condominium unit with heated, air-conditioned open layout and private half bath for showroom or service use.
Property Size1,250 SF
Price / SF$280
Days on Market169
Property Features for 150 George Washington Highway Unit 9
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
J. Christopher Real Estate Grp
Listed By:
The Jarrod Lewis Group
(401) 830-6906
Source:
Milburyre
Added: May 26
Changed: Aug 15
Last Checked: Aug 14 at 7:27AM
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
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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 provides approximately 1,250 square feet of heated and air-conditioned space with a private half bath and a flexible open-concept layout. The project is currently under construction, with anticipated completion in October 2026, and interior and exterior renderings are subject to change.
The development is located just off Routes 116 and 7, providing straightforward visibility and access for day-to-day operations. The remarks also note proximity to restaurants, shopping, fuel stations, hotels, and major highways, including I-295 and I-95, with convenient access to both Massachusetts and Connecticut.
This configuration supports a broad tenant mix, including retail, office, contractor, showroom, trade, and service-based businesses. For buyers looking for a managed, condominium-style commercial space, the open layout and in-unit half bath are well suited to flexible fit-outs while maintaining a simple, functional plan. Tax assessments have not yet been established, and prospective buyers should contact the broker for pricing, availability, and floor plans as the project approaches completion.
The development is located just off Routes 116 and 7, providing straightforward visibility and access for day-to-day operations. The remarks also note proximity to restaurants, shopping, fuel stations, hotels, and major highways, including I-295 and I-95, with convenient access to both Massachusetts and Connecticut.
This configuration supports a broad tenant mix, including retail, office, contractor, showroom, trade, and service-based businesses. For buyers looking for a managed, condominium-style commercial space, the open layout and in-unit half bath are well suited to flexible fit-outs while maintaining a simple, functional plan. Tax assessments have not yet been established, and prospective buyers should contact the broker for pricing, availability, and floor plans as the project approaches completion.
Key Highlights
- Newly constructed commercial condominium units with heated, air‑conditioned space
- Each unit offers approx. 1,250 SF of flexible open‑concept layout plus a private half bath
- Suitable for 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.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway 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
$416,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 unit with heated, air-conditioned open layout and private half bath for showroom or service use.
Where is this flex space located?
The property is located at 150 George Washington Highway Unit 9 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 heated, air‑conditioned space; Each unit offers approx. 1,250 SF of flexible open‑concept layout plus a private half bath; Suitable for uses including retail, office, contractor, showroom, trade, and service‑based businesses
