Property profile

256 Putnam Pike Smithfield, RI 02917

OFF-MARKET
Showrooms
Property ID
US76-0103411
9,992 SF 0.21 ac lot Built 1945
Individually Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, located at 256 Putnam Pike in Smithfield, Rhode Island, presents a unique investment opportunity. Situated on a sizable 9,147 square foot lot, this property boasts a versatile 4,000 square foot building constructed in 1945. The building is a two-story structure, currently offering an open layout adaptable to a wide range of commercial uses. Its zoning allows for diverse applications, including but not limited to: auto shop, storefront retail, traditional office space, distribution center, shopping center component, warehouse, manufacturing, automotive repair, automotive dealership, automotive parts sales, and construction/contractor businesses. The property's location on the Smithfield/Johnston town line ensures high visibility and traffic exposure, making it an ideal location for businesses seeking strong foot traffic and convenient access. The asking price is $12 million. The property consists of one building and one unit, offering significant potential for development and customization to meet the specific needs of a variety of businesses. This is a rare opportunity to acquire a substantial commercial property in a thriving Rhode Island location. The property's versatility and prime location make it an attractive investment for both established businesses and entrepreneurs seeking to establish a presence in a high-traffic area. The property's zip code is 02917.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1945
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 9,992 SF
Lot 0.21 ac (9,148 SF)
Zoning code HC
APN SMIT M:29 B:000 L:056 U:
UPID US76-0103411

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Skin Care Clinic

Location

256 Putnam Pike Smithfield, RI 02917-2702
Smithfield metro Census 12602 PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$300k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$245k

Owner & transaction history

since 2023
Last sale
$245,000
2 recorded transactions
2023
Price N/A
2016
$245,000

Zoning & alternative use

HC · Smithfield, RI
Zoning description

This district is established to provide areas for regional and high intensity commercial retail uses, business/professional services, office buildings, and automotive uses

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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