Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1987 Plainfield St Johnston, RI 02919

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $8,900,000

    15+/- acres of B2 zoned land with high visibility.

    Lot size:
    15.00 Acres

    Property Features for 1987 Plainfield St

    General Information

    Standard status
    Active
    Lot size
    15.00 Acres

    Building Details

    Year built
    1972

    We can help!

    Listing Contact
    Lori Marchetti
    Source: Corcoran

    Listing Agency: HOMESMART PROFESSIONALS Listing Agent: Lori Marchetti

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Land for Development

    This property, located directly off I-295 N/S on Route 14, presents a development opportunity in a growing area. Zoned B2 General Business, the site encompasses two single-family houses at 1987 and 1931 Plainfield and one vacant parcel, totaling 15+/- acres. The property features approximately 850 feet of frontage and 100% visibility, with a high traffic volume of approximately 17,000 vehicles per day. This location is suitable for a multitude of uses, including hotel, office, medical, restaurants, retail, entertainment, and service businesses. The site is positioned on the major travel path to the Cranston, Scituate, North Scituate, and Foster communities, and into Connecticut.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.4903317
    Latitude
    41.7915788

    Nearby Similar for Sale

    • New
      Contact for pricing
      0.09 Acres

      Furnished Professional Offices For Sale

      Ready-to-operate, fully furnished offices with shared amenities in Johnston, RI.
      1312 Atwood Ave, Johnston, RI 02919
      View Details
    • Contact for pricing
      0.28 Acres

      Renovated Flex Commercial Space

      Newly renovated flex space with drive-in door in Johnston, RI.
      8 Dyerville Ave, Johnston, RI 02919
      View Details
    • New
      $665,000
      0.10 Acres

      Updated Three-Family Home in Johnston

      Completely updated three-family home in Johnston, RI with modern upgrades.
      27 Greenville Ave, Johnston, RI 02919
      View Details
    • $829,900
      0.45 Acres

      Vintage Dutch Colonial with Charm

      Vintage Dutch Colonial with ADU potential on corner lot.
      90 Putnam Ave, Johnston, RI 02919
      View Details
    • $595,000
      0.11 Acres

      Renovated Duplex in Johnston

      Renovated duplex with modern kitchens, fenced yard, and new heating.
      73 Maple Ave, Johnston, RI 02919
      View Details
    • $499,900
      0.66 Acres

      Four Ranches on One Lot

      Four separate ranches on one lot, investor opportunity.
      8 Buona Vista Ave, Johnston, RI 02919
      View Details
    • $500,000
      Pending

      Two-Family Home in Johnston, RI

      Well-maintained two-family home with rental income potential.
      27 Dean Ave, Johnston, RI 02919
      View Details
    • $575,000
      5,292 SF

      Johnston Manufacturing/Industrial Building For Sale

      Well-maintained 5,292 SF manufacturing/industrial space near major highways.
      10 Alcazar Ave, Johnston, RI 02919
      View Details
    • Contact for pricing
      2,967 SF

      Medical Office Condo For Sale

      Medical office condominium unit with ample parking for sale.
      1524 Atwood Ave, Johnston, RI 02919
      View Details
    • Contact for pricing
      588 SF

      Former Drive-Through Restaurant For Sale

      588 SF building with drive-through on a 20,862 SF lot.
      1423 Hartford Ave, Johnston, RI 02919
      View Details
    • $424,900
      2,186 SF

      Mixed-Use Property in Prime Location

      Mixed-use property with residential and commercial spaces in Johnston, RI.
      1304 Atwood Ave, Johnston, RI 02919
      View Details
    • Contact for pricing
      13,927 SF

      Food Processing Facility For Sale

      13,927± SF food processing facility on 1.16± acres.
      74 Railroad Ave, Johnston, RI 02919
      View Details

    FAQs

    What type of property is this?
    Commercial land - 15+/- acres of B2 zoned land with high visibility.
    Where is this commercial land located?
    The property is located at 1987 Plainfield St Johnston, RI.
    What is the asking price?
    The asking price for this property is $8,900,000.
    What are key features of this property?
    This property features: - Prime location directly off I-295 N/S on Route 14.; - Zoned B2 General Business, suitable for various uses.; - High traffic volume: approximately 17,000 vehicles per day.
    (401) 921-5011
    Request Owner's contact information
    1987 Plainfield St Johnston, RI 02919
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1987 Plainfield St
    Johnston, RI 02919
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1987 Plainfield St Johnston, RI 02919
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lori Marchetti
    (401) 921-5011
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!