332 Farnum PikeSmithfield, RI 02917

Property Details for 332 Farnum Pike

Year built

1958

Construction

FRAME

Lot size

1.71 AC

Property size (Sq ft)

5,866 SF

Zone code

LI

Property type

Other commercial real estate

Property subtype

Showrooms

APN

SMIT M:46 B:000 L:051-A U:

APU

SMITM46B000L051AU

Description

This exceptional 5,866 square foot commercial property located at 332 Farnum Pike in Smithfield, Rhode Island presents a rare opportunity for restaurant and bar ownership. Situated on a 1.71-acre lot, this turnkey establishment boasts a prime location with high traffic volume, ensuring optimal visibility and customer flow. The property includes ample parking with 70 spaces, accommodating a large clientele. Inside, the spacious layout comfortably seats 199 patrons, with additional seating available on a fenced patio. The property's current configuration is ideal for immediate operation, minimizing start-up costs and maximizing potential returns. This is an excellent opportunity for expanding an existing franchise or launching a new venture. The surrounding area is home to several major employers, including Bryant University, Fidelity, and Navigant Credit Union, providing a substantial and reliable customer base. The asking price for this exceptional property is $999,900. Don't miss this chance to acquire a thriving business in a highly desirable location. This is a truly unique opportunity to own and operate a successful restaurant and bar, generating immediate income and long-term growth potential. The property's size, location, and existing infrastructure make it an attractive investment for discerning entrepreneurs.

• CAP approach

  CAP return

  Valuation

  6%

  $1,425,643

  6.5%

  $1,315,978

  7%

  $1,221,980

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,931,458

  Geo Method

  $1,931,458

• Alternative Use

  Use

  Valuation

  Residential

  $1,110,077

  Hospitality

  $1,016,824

  Educational

  $845,986

  Medical

  $875,081

  Retail

  $1,315,978

Location Insight

City

Smithfield

County

Providence

State

Rhode Island

Latitude

41.9128

Longitude

-71.5448

CBSA code

39300

CBSA name

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

Property Tax & Assessments

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