New Flex Condominium
4-150 Washington Hwy Smithfield, RI 02917
For Sale
$399,000
Newly constructed flex condo units with heated, air-conditioned space, open-concept layouts, and private half baths.
Property Size1,250 SF
Price / SF$319.20
Days on Market57
Property Features for 4-150 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
Changed: Jul 26
Last Checked: Jul 29 at 9:16PM
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.
Now available for sale, Mowry Hill Commons offers newly constructed commercial condominium units designed for a variety of business uses. Each unit is planned to include approximately 1,250 square feet of heated, air-conditioned space, a private half bath, and a flexible open-concept layout suitable for retail, office, contractor, showroom, trade, and service-based businesses. Construction is currently underway, with anticipated completion in October 2026, and all interior and exterior images are architectural renderings of the proposed development and are subject to change. Tax assessments have not yet been established.
The development is located just off Routes 116 and 7, providing visibility and accessibility, along with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95. Convenient access is provided to both Massachusetts and Connecticut.
Units are offered as commercial condominium spaces within the new development, with floor plans and pricing to be provided upon request.
The development is located just off Routes 116 and 7, providing visibility and accessibility, along with proximity to restaurants, shopping, fuel stations, hotels, and major highways including I-295 and I-95. Convenient access is provided to both Massachusetts and Connecticut.
Units are offered as commercial condominium spaces within the new development, with floor plans and pricing to be provided upon request.
Key Highlights
- Newly constructed commercial condominium (flex) units with approx. 1,250 SF of heated and air‑conditioned space per unit
- Units include a private half bath and a flexible open‑concept layout for retail, office, contractor, showroom, trade, and service uses
- Development is located just off Routes 116 and 7, with access to major highways including I‑295 and I‑95
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 authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Newly constructed flex condo units with heated, air-conditioned space, open-concept layouts, and private half baths.
Where is this flex space located?
The property is located at 4-150 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 (flex) units with approx. 1,250 SF of heated and air‑conditioned space per unit; Units include a private half bath and a flexible open‑concept layout for retail, office, contractor, showroom, trade, and service uses; Development is located just off Routes 116 and 7, with access to major highways including I‑295 and I‑95
