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Property profile & analytics
OFF-MARKET Estimated value $505,000
Showrooms

292 Waterman Ave Smithfield, RI 02917-4128

4,476 SF 0.7 ac lot Built 1930
Entity Owned ~ Est. High Equity
Property ID
US76-0208427
Property summary
AI-generated overview

This well-maintained single-tenant commercial office building at 292 Waterman Avenue in Smithfield, Rhode Island, offers 4,476 square feet of versatile space ideal for a variety of professional uses. The building features ten private offices, a conference room, a break room/kitchenette, two restrooms, and a utility room complete with a shower. Situated on a 0.47-acre lot (20,473.2 sq ft), the property provides ample parking for approximately 30 vehicles. Its convenient location just off Route 104 ensures high visibility and easy access to major roadways like Routes 44 and 295, making it an excellent choice for businesses seeking strong marketing opportunities. The building is a single-story structure with a total of one building suite. The lease terms are based on a modified gross lease agreement. This property presents a compelling opportunity for businesses such as insurance companies, law firms, accounting practices, and other general office users. The property's size, amenities, and strategic location combine to create a highly desirable commercial space. The property is located in Smithfield, RI, zip code 02917.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1930
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 4,476 SF
Lot 0.7 ac (30,492 SF)
Zoning code R20
APN SMIT M:26 B:000 L:027 U:
UPID US76-0208427
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$399k
Blend (final) Blend
$505k
Owner & transaction history
Forrest Realty INC
Forrest Realty INC
since 2025
Last sale
$615,000
1 recorded transaction
2025
$615,000
Zoning & alternative use
R20 · Smithfield, RI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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