Building Details

Year Built 1940

Listing Agency: Mott & Chace Sotheby's Intl.

Listed By: Stephen Antoni · License #REB.0016316 Show Phone

Source: Alpernandmesenbourg

Added: Jul 25 Changed: Oct 2 Last Checked: Oct 7 at 3:54PM

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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 Mott & Chace Sotheby's Intl.

Investment Insights

Based on property information with market context.

This mixed-use property comprises two buildings totaling 13,828 square feet on approximately 1/2 acre. The configuration includes 4 residential units, 5-6 retail units, and 3 commercial or warehouse units, creating a varied combination of rental spaces. The property was built in 1940, and all units are currently rented, with many leases extending across multiple years.

The site is positioned at the intersection of Greenville Avenue and benefits from highway access. On-site parking accommodates 20+ vehicles. Additional rental configurations may be possible through subdivision of the existing spaces, subject to applicable approvals and site conditions.

Key Highlights

• 13,828‑square‑foot mixed‑use property on approximately 1/2 acre
• 4 residential units, 5‑6 retail units, and 3 commercial or warehouse units
• Two‑building configuration constructed in 1940

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$182,730

Cap Rate

8.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,654,600 $3.7M

Cap Rate 7%

$2,610,429 $2.6M

Cap Rate 9%

$2,030,333 $2.0M

Market Conditions

NOI Build-Up for 13,828 SF

Gross rent

$353.4K $25.56/SF

− Vacancy

−$21.2K −$1.53/SF

EGI

$332.2K $24.03/SF

− OpEx

−$149.5K −$10.81/SF

NOI

$182.7K $13.21/SF

Area

Providence County, RI

Vacancy

6.00%

Lease Rate

$25.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,654,600

Cap Rate 7%

$2,610,429

Cap Rate 9%

$2,030,333

Alternative Uses

Best Use

Apartment 5plus

$2.61M

$2.28M – $3.05M (±1% cap)

NOI $182,730 @ 7.0% cap · market cap 8.31%

Second Best

Mixed Use

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $163,343 @ 7.0% cap · market cap 7.42%

Theoretical Best

Multifamily LT 5

$3.29M

$2.88M – $3.84M (±1% cap)

NOI $230,243 @ 7.0% cap · market cap 10.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Strip malls

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Pharmacy Gym & Fitness Center Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

508

Businesses Nearby

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

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Income-producing property combines residential, retail, and commercial space with all units currently leased.

Where is this mixed-use property located?

The property is located at 39 Greenville Ave Johnston, RI.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 13,828‑square‑foot mixed‑use property on approximately 1/2 acre; 4 residential units, 5‑6 retail units, and 3 commercial or warehouse units; Two‑building configuration constructed in 1940