Smithfield Mixed-Use Investment
For Sale
$649,900
Pending
2 Douglas, Smithfield, RI 02917
2,500+ sq. ft. mixed-use building in prime Lakeside location.
Property Size3,580 SF
Lot Size0.52 Acres
Days on Market316
Property Features for 2 Douglas
General Information
Standard status
Pending
Size
3,580 SF
Lot size
0.52 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,291
Amenities
Central air
Corner Lot
Central Air Cooling
Circuit Breakers
Heat Pump Heating
Building Details
Year Built
1974
Listing Agency:
RE/MAX PROPERTIES
(401) 232-3900
Listed By:
ROBERT SHIRLEY · License #S24107
Source:
Corcoran
Added: Oct 1, 2025
Changed: Aug 8
Last Checked: Jul 23 at 6:58AM
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 RE/MAX PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use building, located in the lakeside gateway to Smithfield, offers over 2,500 sq. ft. of space. The property's zoning allows for multiple income-generating possibilities, including restaurant, office, or retail concepts. The versatile floor plan is ideal for multi-tenant or mixed-use configurations. The property has access to the town sewer system. An easement to Ridge Road enhances development flexibility. The property is located in a high-visibility location in one of Smithfield's most active gateways. The property size is 3,580 sqft.
Key Highlights
- Prime lakeside location in Smithfield's active gateway
- Versatile floor plan for multi‑tenant or mixed‑use configurations
- Broad zoning potential (restaurant, office, retail)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,274
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$925,480
$925.5K
Cap Rate 7%
$661,057
$661.1K
Cap Rate 9%
$514,156
$514.2K
Market Conditions
NOI Build-Up for 3,580 SF
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.
Gross rent
$71.7K $20.04/SF
− Vacancy
−$10.0K −$2.81/SF
EGI
$61.7K $17.23/SF
− OpEx
−$15.4K −$4.31/SF
NOI
$46.3K $12.93/SF
Area
Providence County, RI
Vacancy
14.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$925,480
Cap Rate 7%
$661,057
Cap Rate 9%
$514,156
Alternative Uses
Best Use
Office B
$661.1K
$578.4K – $771.2K
NOI $46,274 @ 7.0% cap · market cap 7.12%
Second Best
Specialty Retail
$619.5K
$542.0K – $722.7K
NOI $43,362 @ 7.0% cap · market cap 6.67%
Theoretical Best
Multifamily LT 5
$851.6K
$745.1K – $993.5K
NOI $59,609 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 2,500+ sq. ft. mixed-use building in prime Lakeside location.
Where is this mixed-use property located?
The property is located at 2 Douglas Smithfield, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Prime lakeside location in Smithfield's active gateway; Versatile floor plan for multi‑tenant or mixed‑use configurations; Broad zoning potential (restaurant, office, retail)
