Two-Unit Mixed-Use
New
For Sale
$639,900
980 Eddie Dowling Highway, North Smithfield, RI 02896
Residential Income, North Smithfield, RI
Property Size2,852 SF
Lot Size0.25 Acres
Price / SF$224.37
Days on Market4
Property Features for 980 Eddie Dowling Highway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
BH
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Basement, Bedroom 1
Parking
10
Parking features
None
Interior features
Wall (Cermaic), Cathedral Ceilings, Internal Expansion, Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Storage Space, Unfinished
Subdivision
Dowling Village
Lot features
Paved Driveway
Standard status
Active
Size
2,852 SF
Lot size
0.25 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6940
Utilities
Sewer type
Cesspool
Heating system
Central, Oil
Cooling system
Central Air
Water source
Private, Well
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Parquet Wood
Building materials
Ceramic, Vinyl Siding
Buildings
1
Listing Agency:
The Greene Realty Group
Listed By:
Derek Greene
(888) 278-5840
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 29 at 8:06AM
MLS# 1427014
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,852-square-foot mixed-use property contains a 1,557-square-foot residential unit and a 1,295-square-foot commercial office, arranged side by side with separate entrances. The residence has two full bathrooms and no kitchen; the office includes a half bath. Three unfinished basements total approximately 1,506 square feet. Built in 1950, the property sits on 0.25 acres and is offered as-is.
Zoning is BH. A Town of North Smithfield certificate confirms continued business use is permitted and residential use is a legal preexisting nonconforming use. The property fronts Eddie Dowling Highway on Route 146, with Dowling Village and the Route 146/I-295 connection described as minutes away. Two driveways provide separate access to the units.
Zoning is BH. A Town of North Smithfield certificate confirms continued business use is permitted and residential use is a legal preexisting nonconforming use. The property fronts Eddie Dowling Highway on Route 146, with Dowling Village and the Route 146/I-295 connection described as minutes away. Two driveways provide separate access to the units.
Key Highlights
- 2,852‑square‑foot mixed‑use property with a 1,557‑square‑foot residence and 1,295‑square‑foot office
- Three unfinished basements totaling approximately 1,506 SF
- BH zoning; town certificate confirms continued business use and legal preexisting nonconforming residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,864
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$737,280
$737.3K
Cap Rate 7%
$526,629
$526.6K
Cap Rate 9%
$409,600
$409.6K
Market Conditions
NOI Build-Up for 2,852 SF
Gross rent
$57.2K $20.04/SF
− Vacancy
−$8.0K −$2.81/SF
EGI
$49.2K $17.23/SF
− OpEx
−$12.3K −$4.31/SF
NOI
$36.9K $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%
$737,280
Cap Rate 7%
$526,629
Cap Rate 9%
$409,600
Alternative Uses
Best Use
Office B
$526.6K
$460.8K – $614.4K
NOI $36,864 @ 7.0% cap · market cap 5.76%
Second Best
Mixed Use
$481.3K
$421.1K – $561.5K
NOI $33,689 @ 7.0% cap · market cap 5.26%
Theoretical Best
Multifamily LT 5
$678.4K
$593.6K – $791.5K
NOI $47,487 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
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Business Placement
Demographics for 02896, RI
11,154
Population
4,759
Households
2.3
Avg Household Size
48
Median Age
34%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
485
Density / Sq Mi
$109,436
Median Household Income
$57,420
Median Earnings
$1,282
Median Rent
$423,500
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate entrances serve a residence and office, with three unfinished basements providing additional storage area.
Where is this mixed-use property located?
The property is located at 980 Eddie Dowling Highway North Smithfield, RI.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 2,852‑square‑foot mixed‑use property with a 1,557‑square‑foot residence and 1,295‑square‑foot office; Three unfinished basements totaling approximately 1,506 SF; BH zoning; town certificate confirms continued business use and legal preexisting nonconforming residential use
