Restaurant Ready Commercial
332 Farnum Pike Smithfield, RI 02917
For Sale
$859,000
Turn-key restaurant opportunity in a sought-after dining district.
Property Size5,880 SF
Price / SF$146.09
Days on Market156
Property Features for 332 Farnum Pike
General Information
- Standard status
- Active
- Size
- 5,880 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1958
Listing Agency:
Compass
(401) 646-0023
Listed By:
The Blackstone Team
(401) 646-0023
Source:
Liongatere
Added: Feb 20
Changed: Jul 10
Last Checked: Jul 25 at 3:26PM
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 Compass
Investment Insights
Based on property information with market context.
Located at 332 Farnum Pike in Smithfield, RI, this commercial space offers an opportunity for a restaurant venture. The property features a spacious, well-equipped kitchen and ample storage areas, along with a basement prep area. On-site offices are available for management purposes. The exterior includes a large parking lot and an outdoor dining area. The property is situated in a dining district with a steady flow of traffic, near Fidelity and Bryant. The space is approximately 5,880 square feet and has a capacity of 200 people. This location is suited for various restaurant concepts, including a cafe, bistro, or upscale dining establishment.
Key Highlights
- Turn‑key restaurant space in a high‑traffic, sought‑after dining district.
- Large 200‑person capacity with a spacious, well‑equipped kitchen.
- Massive parking lot and charming outdoor dining area.
Financial Insights For Specialty Retail
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 | $105.8k | $18.00 |
| − Vacancy | −$10.9k | −$1.85 |
| EGI | $95.0k | $16.15 |
| − OpEx | −$23.7k | −$4.04 |
| NOI | $71.2k | $12.11 |
5,880 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.02M
$890.3K – $1.19M
NOI $71,220 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.40M
$1.22M – $1.63M
NOI $97,905 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Restaurants
FAQs
What type of property is this?
Restaurant - Turn-key restaurant opportunity in a sought-after dining district.
Where is this restaurant located?
The property is located at 332 Farnum Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Turn‑key restaurant space in a high‑traffic, sought‑after dining district.; Large 200‑person capacity with a spacious, well‑equipped kitchen.; Massive parking lot and charming outdoor dining area.
