Two-Level Neighborhood Shopping
New
For Sale
$1,775,000
1031 Plainfield Street, Johnston, RI 02919
Multiple storefronts, on-site parking, and two curb cuts serve this neighborhood retail property.
Property Size13,706 SF
Lot Size1.00 Acre
Price / SF$129.51
Days on Market3
Property Features for 1031 Plainfield Street
General Information
Standard status
Active
Size
13,706 SF
Total Parking Spaces
30
Lot size
1.00 Acre
Property subtype
Retail
Zoning
B2
Additional Details
Road Access
Yes
Building Details
Building Size
13,706 SF
Year Built
1971
Stories
2
Tenancy
Multi
Listing Agency:
MG Commercial
Listed By:
Dan Feiner · License #RI # RES.0029089
(401) 465-9224
Source:
Mgcommercial
Added: Oct 23
Last Checked: Oct 24 at 1:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MG Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 21-unit shopping center contains approximately 13,706 square feet of retail space arranged across two levels. Built in 1971, the property occupies a one-acre site and includes multiple storefronts, 30 parking spaces, and pylon signage. B2 - General Business zoning applies.
The center fronts Plainfield Street in Johnston, Rhode Island. Two curb cuts provide vehicle access to the site.
The center fronts Plainfield Street in Johnston, Rhode Island. Two curb cuts provide vehicle access to the site.
Key Highlights
- 21 retail units across two levels, with approximately 13,706 square feet
- One‑acre site with 30 on‑site parking spaces
- Two curb cuts provide access from Plainfield Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,735
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,094,700
$3.1M
Cap Rate 7%
$2,210,500
$2.2M
Cap Rate 9%
$1,719,278
$1.7M
Market Conditions
NOI Build-Up for 13,706 SF
Gross rent
$246.7K $18.00/SF
− Vacancy
−$25.7K −$1.87/SF
EGI
$221.1K $16.13/SF
− OpEx
−$66.3K −$4.84/SF
NOI
$154.7K $11.29/SF
Area
Providence County, RI
Vacancy
10.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,094,700
Cap Rate 7%
$2,210,500
Cap Rate 9%
$1,719,278
Alternative Uses
Best Use
Retail
$2.21M
$1.93M – $2.58M
NOI $154,735 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.26M
$2.85M – $3.80M
NOI $228,211 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Shopping center - Multiple storefronts, on-site parking, and two curb cuts serve this neighborhood retail property.
Where is this shopping center located?
The property is located at 1031 Plainfield Street Johnston, RI.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: 21 retail units across two levels, with approximately 13,706 square feet; One‑acre site with 30 on‑site parking spaces; Two curb cuts provide access from Plainfield Street
