Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    501 Great Rd North Smithfield, RI 02896
    Back to Search
    Property profile & analytics

    501 Great Rd, North Smithfield, RI 02896

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mary Ann Panarello / Medical Clinic
    • Dr. Jean A. Marcellot, MD / Physician
    • Stepka Family Dental: Gregory Stepka, D.M.D. / Dental Office
    • Stepka Family Dental / Dental Office
    • Dumas Nicole / Dental Office

    Property Details for 501 Great Rd

    Year built
    1986
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 1-story, 1986-built office condo in North Smithfield, RI, presents a fantastic investment opportunity. Located at 501 Great Road, Unit 204, this property boasts a prime location within a thriving professional community, surrounded by doctors, dentists, and other businesses. The unit has recently undergone a complete renovation, featuring fresh paint, new flooring, updated windows, and a young roof. The condo offers a blend of functionality and affordability, with low monthly condo fees. The high-traffic location ensures excellent visibility and accessibility for your business. While the square footage is not specified, this property is ideal for a variety of professional uses, including medical, executive, or general office space, as well as retail storefront opportunities. The property is categorized as Commercial, Traditional Office, Storefront, Medical Office, Executive Office, and Farm, offering versatility for diverse business needs. This is a rare opportunity to acquire a well-maintained, conveniently located office condo at an attractive asking price of $219,000. The property is situated in Providence County, Rhode Island, zip code 02896. The building is one of many in the Branch Village Professional Offices complex.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Smithfield
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5494
    Latitude
    41.9992

    Comparable in this City

    • Value Estimation by Request

      501 Great Rd

      Individual retail properties
      501 Great Rd, North Smithfield, RI 02896
      View Details
    • Value Estimation by Request
      335,412 SF

      373 Eddie Dowling Hwy

      Individual retail properties
      373 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Value Estimation by Request
      1.87 Acres

      275 Eddie Dowling Hwy

      Day care centers
      275 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Value Estimation by Request
      13.63 Acres

      934 Victory Hwy

      Land
      934 Victory Hwy, North Smithfield, RI 02896
      View Details
    • Value Estimation by Request

      373 Eddie Dowling Hwy

      Land
      373 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Value Estimation by Request
      27.00 Acres

      355 Putnam Pike

      Land
      355 Putnam Pike, North Smithfield, RI 02896
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.22 Acres

      North Smithfield Retail/Office Opportunity

      Versatile retail/office space in a high-visibility North Smithfield location.
      1435 Victory Hwy, North Smithfield, RI 02896
      View Details
    • Contact for pricing
      11,379 SF

      Retail Space Near Major Routes

      Freestanding retail space shadow-anchored by Stop & Shop.
      1 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $299,900
      2,970 SF

      Versatile Medical/Office Space For Sale

      2,970 SF medical/office space with flexible layout.
      501 Great Rd, North Smithfield, RI 02896
      View Details
    • $340,000
      2,970 SF

      Versatile Medical/Office Space For Sale

      2,970 SF medical/office space with flexible layout and utilities.
      501 Great Rd, North Smithfield, RI 02896
      View Details
    • $275,000
      7.00 Acres

      Equestrian Land Opportunity

      7+- acre lot zoned for horses near equestrian center.
      Pound Hill Rd, North Smithfield, RI 02896
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Power Center

      Retail opportunity in Northern Rhode Island's premier power center.
      Smithfield, RI 02896
      View Details
    • $10 SF/Yr
      1,120 SF

      North Smithfield Commercial Lease Opportunity

      Turnkey commercial space in a high-traffic, well-maintained complex.
      63 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Contact for pricing

      North Smithfield Commercial Lease Opportunity

      Turnkey commercial space in a high-traffic, well-maintained complex.
      63 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Contact for pricing

      North Smithfield Commercial Lease Opportunity

      Turnkey commercial space with reception, waiting room, and offices.
      63 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Contact for pricing

      Retail Pad Site For Lease

      Ground lease opportunity in Stop & Shop parking area.
      595 Smithfield Rd, North Smithfield, RI 02896
      View Details
    • Contact for pricing

      Retail Space in High-Traffic Location

      Spacious retail property with high visibility and flexible leasing options.
      1435 Victory Hwy, North Smithfield, RI 02896
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    501 Great Rd
    North Smithfield, RI 02896
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    501 Great Rd, North Smithfield, RI, 02896
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!