16 Dowling Village Blvd N Smithfield, RI 02896
Property profile & analytics
16 Dowling Village Blvd, N Smithfield, RI 02896
- Showrooms
- 17,750 SF
- 2.04 lot acres
Property ID
US76-0274577
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.
Location Intelligence
Current Use by Public Records
- Planet Fitness / Gym & Fitness Center
Property Details for 16 Dowling Village Blvd
- Year built
- 2018
- Construction
- STEEL FRAME
- Lot size
- 2.04 lot acres
- Zone code
- BH
- Property type
- Showrooms
- APN
- NSMI M:0013 L:0417
- APU
- NSMIM0013L0417
Description
This exceptional investment opportunity presents a 17,450 square foot, Class A, single-tenant Planet Fitness located in North Smithfield, Rhode Island. The property, built in 2018, sits on a 2.04-acre lot within the thriving Dowling Village Shopping Center, anchored by national retailers such as Walmart, Lowe's, PetSmart, Kohl's, and Aldi. The building boasts 102 parking spaces and enjoys a highly visible location along Route 146A (Eddie Dowling Highway), a major thoroughfare with 23,439 vehicles per day. The property is currently 100% occupied under a Net Lease (NNN) agreement with a franchisee operator, featuring a 15-year lease commencing May 31, 2019, and expiring May 30, 2034, with two 5-year options. The lease includes rent bumps of $1 per square foot every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $226,850, representing a 6.50% cap rate on the asking price of $3,490,000. This top-performing Planet Fitness location consistently ranks among the best in Rhode Island and within the top 85th percentile nationally. The minimal landlord responsibilities inherent in the NNN lease structure further enhance the investment appeal. This is a rare opportunity to acquire a stable, high-performing asset in a prime retail location.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,221,000
- AI Estimate
- $1,727,000
Market price range: $1.57M - $3.81MMarket price range: $905k - $3.25M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,600,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- North Smithfield
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5096
- Latitude
- 41.9794
- CBSA code
- 39300
- CBSA name
- PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$48,205
$535,100
$1,949,700
$2,484,800
-
$0.00
$0.00
$0.00
