New Flex Condominium
For Sale
$399,000
4-150 Washington Hwy, Smithfield, RI 02917
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 Market148
Property Features for 4-150 Washington Hwy
General Information
Standard status
Active
Size
1,250 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
J. Christopher Real Estate Grp
Listed By:
The Jarrod Lewis Group
(401) 830-6906
Source:
Exprealty
Added: Jun 4
Changed: Oct 25
Last Checked: Oct 28 at 8:48AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$16,157
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$323,140
$323.1K
Cap Rate 7%
$230,814
$230.8K
Cap Rate 9%
$179,522
$179.5K
Market Conditions
NOI Build-Up for 1,250 SF
Gross rent
$25.1K $20.04/SF
− Vacancy
−$3.5K −$2.81/SF
EGI
$21.5K $17.23/SF
− OpEx
−$5.4K −$4.31/SF
NOI
$16.2K $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 Rate 5%
$323,140
Cap Rate 7%
$230,814
Cap Rate 9%
$179,522
Alternative Uses
Best Use
Office B
$230.8K
$202.0K – $269.3K
NOI $16,157 @ 7.0% cap · market cap 4.05%
Second Best
Flex RnD
$110.4K
$96.6K – $128.8K
NOI $7,728 @ 7.0% cap · market cap 1.94%
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Well-served
Demand for This Use
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
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
