Restaurant Opportunity in Smithfield,
332 Farnum, Smithfield, RI 02917
Turn-key restaurant space with high capacity and outdoor dining.
Property size:
5,880 SFPrice / SF:
$153/SF- Added:
- Feb 20, 2026
- Days on Market:
- 85
- Last Refresh:
- Mar 16 at 11:02 am
Property Features for 332 Farnum
General Information
- Standard status
- Active
- Size
- 5,880 SF
Building Details
- Year Built
- 1958
Listing agent THE BLACKSTONE TEAM
Listing office COMPASS (401) 274-1644
Listing date Feb 20, 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 COMPASS
HighLights
- Prime location in a high‑traffic, sought‑after dining district.
- Large 5,880+ sq. ft. space with a 200‑person capacity.
- Nearly turn‑key condition with a spacious, well‑equipped kitchen.
- Massive parking lot to comfortably accommodate customers.
- Charming outdoor dining area for an enhanced customer experience.
- On‑site offices for efficient restaurant management.
Overview
Located at 332 Farnum Pike in Smithfield, RI, this commercial space offers an opportunity for a restaurant venture. The property features 5,880+ sq. ft. of space with a 200-person capacity. Situated in a dining district with steady traffic, the property is nearly turn-key. It includes a well-equipped kitchen, ample storage areas, and a basement prep area. On-site offices are available for management. The exterior features a large parking lot and an outdoor dining area. The location is near Fidelity and Bryant. This space is suited for various dining concepts, with the potential to become a local favorite.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$791.3K
NOI $71,220 @ 9.00% cap · cautious / downside scenario
Moderate
$1.02M
NOI $71,220 @ 7.00% cap · market / base-case scenario
Aggressive
$1.42M
NOI $71,220 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| 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 Use Scenarios
Best Use
Specialty Retail
$1.02M
$890.3K – $1.19M
NOI $71,220 @ 7.0% cap · market cap 7.91%
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 10.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Restaurants
Location Insight
- Map
- Local Demand
- City
- Smithfield
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5445334
- Latitude
- 41.9126261
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - Turn-key restaurant space with high capacity and outdoor dining.
Where is this restaurant located?
The property is located at 332 Farnum Smithfield, RI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Prime location in a high‑traffic, sought‑after dining district.; Large 5,880+ sq. ft. space with a 200‑person capacity.; Nearly turn‑key condition with a spacious, well‑equipped kitchen.
