1097 Eddie Dowling HwyNorth Smithfield, RI 02896

Property Details for 1097 Eddie Dowling Hwy

Year built

1970

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.13 AC

Property size (Sq ft)

7,350 SF

Zone code

BH

Property type

Showrooms

APN

NSMI M:0017 L:0079

APU

NSMIM0017L0079

Description

This exceptional 5.25-acre commercial property in North Smithfield, Rhode Island, presents a remarkable investment opportunity. Located directly on Route 146, this high-visibility site boasts over 580 linear feet of frontage in a Business Highway zone, experiencing daily traffic counts exceeding 50,000 vehicles. The property encompasses four tax lots (0, 1095, 1097, & 1117 Eddie Dowling Highway) totaling approximately 228,690 square feet and includes three existing structures with a combined area of 16,162 square feet. Currently utilized as a blend of residential and commercial space, including truck customization, automotive repair, and parts retail, the property offers significant flexibility for a wide range of uses. The existing structures feature recently improved infrastructure, including new retaining walls, gravel ground cover, roofs, epoxy floors, garage doors, HVAC systems, an oil tank, and a renovated kitchen and bath. The property's prime location, adjacent to established businesses like the Rustic Drive-in Theatre and Anchor Nissan & Subaru, and its proximity to Eddie Dowling Village, ensures strong visibility and potential for significant growth. The asking price for the land and buildings is $3,999,900. The existing business, furniture, fixtures, and equipment are not included in this offering but may be available for separate negotiation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,786,307

  6.5%

  $1,648,898

  7%

  $1,531,120

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,420,084

  Geo Method

  $2,420,084

• Alternative Use

  Use

  Valuation

  Residential

  $1,390,908

  Hospitality

  $1,274,064

  Educational

  $1,060,006

  Medical

  $1,096,461

  Retail

  $1,648,898

Location Insight

City

North Smithfield

County

Providence

State

Rhode Island

Latitude

41.9586

Longitude

-71.4936

CBSA code

39300

CBSA name

PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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