Commercial Real Estate Market in Smithfield, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
65 active listings and 584 off-market properties in Smithfield, RI. Commercial property asks $194/SF to buy and $17.42/SF/Yr to lease.
Market Trends
Smithfield, RI spans 21.4 square miles in Providence County, Rhode Island. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Smithfield, RI asks $163/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in Smithfield, RI asks $177/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Smithfield, RI runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Smithfield, RI asks $203/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 76.5%
- Industrial 11.7%
- Planned_development 8.7%
- Commercial 2.6%
- Mixed use 0.6%
Largest Zones share of zoned land by district
Low Density Residential
High Density Residential
Planned Corporate
Residential Conservation
Medium Density Residential
Smithfield, RI zones 17,599 acres across 13 districts. Commercial zoning covers 2.6% of zoned land, residential 76.5% and industrial 11.7%. The largest single district is Low Density Residential at 45.2%. For commercial buyers the practical constraint is that only 14.3% of land carries a commercial or industrial designation.
Low Density Residential (R80)
This district is established to provide areas for low density residential use, with single dwelling unit detached structures, located on lots with a minimum land area of 80,000 square feet to allow semi-rural residential opportunities.
Market overview
Demographics & Economy
Smithfield, RI has 14,738 residents in 5,119 households. Density runs 687 people per square mile. Median household income here is $106,772 and median gross rent $988 a month.
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
687
Density / Sq Mi
$106,772
Median Household Income
$44,229
Median Earnings
$988
Median Rent
$416,100
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Glocester | $194 (county avg) | — |
| Johnston | $194 (county avg) | $33.12 |
| North Providence | $194 (county avg) | $30.61 |
| Lincoln | $194 (county avg) | $20.47 |
Commercial property in Smithfield, RI asks $194/SF. The 4 bordering markets run from $194/SF in Glocester to $194/SF in Glocester, and the city sits in line with their $194/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in Smithfield?
Commercial property in Smithfield, RI asks an average of $194 per square foot. The 4 most recent recorded sales traded at a median of $371/SF. Multifamily carries the highest asking price at $203/SF.
How much does it cost to lease commercial space in Smithfield?
Asking lease rates in Smithfield, RI average $17.42 per square foot per year.
How does Smithfield compare to nearby markets on price?
Smithfield, RI asks $194/SF against $194/SF in Glocester, $194/SF in Johnston, $194/SF in North Providence and $194/SF in Lincoln.
What zoning applies to commercial property in Smithfield?
Smithfield, RI zones 17,599 acres across 13 districts, of which 2.6% is commercial and 11.7% industrial. The largest single district is Low Density Residential at 45.2% of zoned land. This district is established to provide areas for low density residential use, with single dwelling unit detached structures, located on lots with a minimum land area of 80,000 square feet to allow semi-rural residential opportunities. Residential zoning covers 76.5% and open space 0%.
Where does Realmo's Smithfield market data come from?
Realmo compiles Smithfield, RI figures from 6 recent recorded sales, 47 active sale listings, 18 active lease listings, 584 tracked off-market properties, the current Smithfield zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 47 active for-sale and 18 active for-lease listings in Smithfield, RI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Price per square foot
- The county-level $/SF blends closed sales aggregated over the trailing months of available data, not a single day's snapshot — it can differ from any one month's own median.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 17,599 zoned acres across 13 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
