Updated Strip Plaza with
For Sale
$999,900
80 Greenville Avenue Johnston, Johnston, RI 02919
One-level strip plaza is updated and currently operated as a pub and pizza place, with a large parking lot.
Property Size4,000 SF
Price / SF$249.98
Days on Market94
Property Features for 80 Greenville Avenue Johnston
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
25
Zoning
Comm
Taxes and HOA fees
Annual Taxes
$12,828
Building Details
Building Size
4,000 SF
Year Built
1987
Buildings
1
Stories
1
Listed By:
Michele Costa
(508) 501-1443
Source:
Milestonerealtyinc
Added: Jun 4
Changed: Aug 27
Last Checked: Sep 4 at 2:53AM
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 Michele Costa
Investment Insights
Based on property information with market context.
This one-level strip plaza has been updated and is currently operating as a pub and pizza place. The property is offered for sale, with the option for the owners to lease back the building.
The asset includes a large parking lot designed to support day-to-day customer traffic. The property is located at 80 Greenville Avenue in Johnston, Rhode Island.
At approximately 4,000 square feet, the building is configured to serve both bar and food service uses within a strip plaza setting.
The asset includes a large parking lot designed to support day-to-day customer traffic. The property is located at 80 Greenville Avenue in Johnston, Rhode Island.
At approximately 4,000 square feet, the building is configured to serve both bar and food service uses within a strip plaza setting.
Key Highlights
- One‑level strip plaza built in 1987
- Updated property currently operated as a pub and pizza place
- Large parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,449
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$968,980
$969.0K
Cap Rate 7%
$692,129
$692.1K
Cap Rate 9%
$538,322
$538.3K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$72.0K $18.00/SF
− Vacancy
−$7.4K −$1.85/SF
EGI
$64.6K $16.15/SF
− OpEx
−$16.1K −$4.04/SF
NOI
$48.4K $12.11/SF
Area
Providence County, RI
Vacancy
10.28%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$968,980
Cap Rate 7%
$692,129
Cap Rate 9%
$538,322
Alternative Uses
Best Use
Specialty Retail
$692.1K
$605.6K – $807.5K
NOI $48,449 @ 7.0% cap · market cap 4.85%
Second Best
Retail
$645.1K
$564.5K – $752.6K
NOI $45,158 @ 7.0% cap · market cap 4.52%
Theoretical Best
Multifamily LT 5
$951.5K
$832.5K – $1.11M
NOI $66,602 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 37%
Electronics 1%
Wendy's
Dining
22,768 visits/mo
0.4 miles
Dunkin' Donuts
Dining
18,842 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
18,472 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,976 visits/mo
0.4 miles
Hometown Pizza
Dining
1,930 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - One-level strip plaza is updated and currently operated as a pub and pizza place, with a large parking lot.
Where is this strip mall located?
The property is located at 80 Greenville Avenue Johnston Johnston, RI.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: One‑level strip plaza built in 1987; Updated property currently operated as a pub and pizza place; Large parking lot
