Commercial Condominium Flex
2-150 Washington Hwy Smithfield, RI 02917
2-150 Washington Hwy, Smithfield, RI, 02917
$399,000
For Sale
$399,000
Newly constructed flex space condos feature heated, air-conditioned interiors, a private half bath, and flexible open layouts.
Property Size1,250 SF
Price / SF$319.20
Days on Market50
Property Features for 2-150 Washington Hwy
General Information
- Standard status
- Active
- Size
- 1,250 SF
Listing agency
J. Christopher Real Estate Grp
(401) 830-6906
Listed by
The Jarrod Lewis Group
(401) 830-6906
Source
Exprealty
Added: Jun 4 Updated: Jul 22 at 8:09PM Checked: Jul 22 at 8:09PM
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 a range of business uses. Each unit includes approximately 1,250 square feet of heated and air-conditioned space with a private half bath and a flexible open-concept layout intended to 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 and is described as providing visibility and accessibility. The project area offers convenient proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, with access to both Massachusetts and Connecticut.
Interior and exterior images provided are architectural renderings of the proposed development and may change. Tax assessments have not yet been established; contact for pricing, availability, and floor plans.
The development is located just off Routes 116 and 7 and is described as providing visibility and accessibility. The project area offers convenient proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95, with access to both Massachusetts and Connecticut.
Interior and exterior images provided are architectural renderings of the proposed development and may change. Tax assessments have not yet been established; contact for pricing, availability, and floor plans.
Key Highlights
- Newly constructed commercial condominium units for flexible business use
- Each unit offers approx. 1,250 SF of heated and air‑conditioned space
- Includes a private half bath and flexible open‑concept layout
Local 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 4.05%
Second Best
Retail
$201.6K
$176.4K – $235.2K
NOI $14,112 @ 7.0% cap · market cap 3.54%
Theoretical Best
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Newly constructed flex space condos feature heated, air-conditioned interiors, a private half bath, and flexible open layouts.
Where is this flex space located?
The property is located at 2-150 Washington Hwy Smithfield, RI.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Newly constructed commercial condominium units for flexible business use; Each unit offers approx. 1,250 SF of heated and air‑conditioned space; Includes a private half bath and flexible open‑concept layout
