Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1241 Eddie Dowling Hwy North Smithfield, RI 02896

    • Commercial real estate
    • 5.94 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US76-0404082
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1241 Eddie Dowling Hwy

    Lot size
    5.94 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 5.94-acre commercial land parcel presents a unique investment opportunity in North Smithfield, Rhode Island. Strategically located on Eddie Dowling Highway (Route 146), this property boasts significant frontage: 366 feet on Route 146 and 777 feet on Old Sayles Hill Road. The high-traffic location, with over 50,000 vehicles passing daily, ensures exceptional visibility and accessibility. Currently zoned Business Highway, this site offers immense potential for a variety of commercial developments. The property's proximity to the intersection of I-295 and Route 146 further enhances its strategic value, providing easy access to major transportation arteries. Adding to its appeal, the land generates a current monthly income of $6,000. Neighboring businesses include the well-established Rustic Drive-In, an ice arena, and Stephen Roy Power Equipment, indicating a thriving commercial environment. The asking price for this prime development site is $1,200,000. This is a rare opportunity to acquire a substantial commercial property in a high-demand location with proven income potential. The property's size, zoning, and location make it ideal for a wide range of commercial ventures. Don't miss this chance to capitalize on this exceptional investment opportunity. The address is 1241 Eddie Dowling Hwy, North Smithfield, RI 02896.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Smithfield
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.48986470725
    Latitude
    41.956035829172

    Comparable in this City

    • $699,000

      North Smithfield Commercial Land Available

      3.5 acres of commercial and residential land for sale.
      958 Victory Hwy, North Smithfield, RI 02896
      View Details
    • $200,000
      Pending

      Commercial Land in High-Traffic Location

      0.62-acre lot in a high visibility location.
      1003 Victory Hwy, North Smithfield, RI 02896
      View Details
    • $375,000
      0.87 Acres

      Corner Lot on Eddie Dowling Highway

      Corner lot suitable for various businesses with easy access.
      Eddie Dowling Hwy, 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
    • $349,900
      0.28 Acres

      Commercial Land Near Dowling Village

      Commercial land with high traffic count near Dowling Village.
      373 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $750,000
      1.87 Acres

      Commercial Land on Corner Lots

      Two adjacent corner lots suitable for various businesses.
      Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details

    Similar Nearby for Sale

    • $699,000

      North Smithfield Commercial Land Available

      3.5 acres of commercial and residential land for sale.
      958 Victory Hwy, North Smithfield, RI 02896
      View Details
    • $200,000
      Pending

      Commercial Land in High-Traffic Location

      0.62-acre lot in a high visibility location.
      1003 Victory Hwy, North Smithfield, RI 02896
      View Details
    • $135,000

      Prime North Smithfield Storefront

      Established Dry Cleaner, High Traffic
      175 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $375,000
      1.00 Acre

      Commercial Lot on Eddie Dowling

      One-acre commercial lot with highway frontage in North Smithfield.
      Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $349,900
      0.28 Acres

      Commercial Land Near Dowling Village

      Commercial land with high traffic count near Dowling Village.
      373 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $750,000
      1.87 Acres

      Commercial Land on Corner Lots

      Two adjacent corner lots suitable for various businesses.
      Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details

    Similar Nearby for Lease

    • $178 SF/Yr
      1,120 SF

      Park Square Medical Office For Sale

      1,120 SF Medical Office in RI
      63 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • Contact for pricing
      21,780 SF

      Stop & Shop Plaza Pad Site

      High-Visibility Retail Pad in RI
      595 Smithfield Rd, North Smithfield, RI 02896
      View Details
    • Contact for pricing

      Retail Space in Power Center

      Retail opportunity in Northern Rhode Island's premier power center.
      North Smithfield, RI 02896
      View Details
    • Contact for pricing

      North Smithfield Retail Space Available

      Retail spaces available in North Smithfield's premier power center.
      19 Dowling Village Blvd, North Smithfield, RI 02896
      View Details
    • $3 SF/Yr
      30,000 SF

      North Smithfield Office Space Available

      Office space for rent with ample parking and highway access.
      582 Great Rd, North Smithfield, RI 02896
      View Details
    • $1,550 /Mo
      1,050 SF

      Professional Office Space For Rent

      First-floor office suite suitable for various professional uses.
      117 Eddie Dowling 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.
    1241 Eddie Dowling Hwy
    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

    Google sign-in failed. Please try again or use another login method.