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    275 Eddie Dowling Hwy North Smithfield, RI 02896
    Property profile & analytics

    275 Eddie Dowling Hwy, North Smithfield, RI 02896

    View on Map
    • Day care centers
    • 1.87 lot acres
    Off-Market
    Property ID
    US76-0203196
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • North Smithfield gifts / Spiritual Center

    Property Details for 275 Eddie Dowling Hwy

    Lot size
    1.87 lot acres
    Property type
    Day care centers
    Property subtype
    Lifestyle centers

    Description

    This exceptional 1.87-acre property in North Smithfield, Rhode Island, presents a unique redevelopment opportunity. Located at 275 Eddie Dowling Hwy, 02896, this site boasts a prime location on Route 146A, directly across from Dowling Village – a thriving retail center anchored by major national tenants such as Walmart, Lowe's, and Kohl's. Currently improved with two, two-story single-family homes, the property is zoned BH (Business Highway), offering a wide range of potential uses. Envision a multi-tenant shopping center, medical facility, or other compatible businesses thriving in this high-visibility location. The asking price is $1,500,000. While the property consists of two buildings and two units, the existing structures are not the focus of this investment opportunity. The significant potential lies in the redevelopment of the land itself. Note that an adjacent 20,000 square foot parcel is available for purchase separately. A conceptual plan for a 20,000 square foot building incorporating this additional parcel is available upon request. This is an exceptional chance to capitalize on a high-traffic location and create a significant return on investment. Don't miss this chance to acquire a prime piece of Rhode Island commercial real estate.

    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
    -71.511432169308
    Latitude
    41.9762108537

    Comparable in this City

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      Established Dry-Cleaning Business For Sale

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      Established Dry-Cleaning Business Opportunity

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      High-Visibility Retail Property For Sale

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    Similar Nearby for Sale

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      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
    • Contact for pricing
      2,000 SF

      Established Dry-Cleaning Business For Sale

      Well-established dry-cleaning business in high-traffic area, equipment included.
      175 Eddie Dowling Hwy, North Smithfield, RI 02896
      View Details
    • $125,000
      2,000 SF

      Established Dry-Cleaning Business Opportunity

      Turnkey dry-cleaning business for sale in high-traffic location.
      175 Eddie Dowling Hwy, North Smithfield, RI 02896
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    • Contact for pricing

      High-Visibility Retail Property For Sale

      11,552 SF retail property in a thriving suburban market.
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    Similar Nearby for Lease

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      Retail Space in Power Center

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      North Smithfield Retail Space Available

      Retail spaces available in North Smithfield's premier power center.
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      Retail Space in High-Traffic Location

      Spacious retail property with high visibility and flexible leasing options.
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      Retail Space in High-Traffic Area

      Spacious retail property with high visibility and flexible leasing options.
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      Commercial Property on Route 146

      Well-maintained commercial property with high visibility on Route 146.
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      Retail Pad Site For Lease

      Ground lease opportunity in Stop & Shop parking area.
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    North Smithfield, RI 02896
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    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
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