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 25 Last Checked: Oct 7 at 3:54PM

Report an Issue

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.

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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

Is this asking price fair?

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

Who owns this building? See the owner, sales and loan history

Open Analytics

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

Similar For Sale Nearby

See more

Multi-Tenant Warehouse Building

197 Putnam Pike, Johnston, RI 02919

$789,500

0.27 Acres

View details

8,750 sq. ft. (0.54 acres) Warehouse For Sale

15 Bucklin Street, Johnston, RI 02919

$495,000

8,750 SF

View details

Updated Strip Plaza with Parking

80 Greenville Avenue, Johnston, RI 02919

$999,900

4,000 SF

View details

Flex Space with Updated Roof

10 Alcazar Avenue, Johnston, RI 02919

$499,900

5,292 SF

View details

Occupied Mixed-Use Property

620 Killingly Street, Johnston, RI 02919

$899,900

3,377 SF

View details

Quadplex Property With Four Ranches

8 Buona Vista Avenue, Johnston, RI 02919

$419,900

3,708 SF

View details

3-Unit Multifamily Property

4 Edna St, Johnston, RI 02919

$470,000

3,200 SF

View details

Renovated Two-Family Duplex

31 Greenville Avenue, Johnston, RI 02919

$649,900

2,495 SF

View details

Duplex with Private Basements

179 Shun Pike, Johnston, RI 02919

$674,900

2,223 SF

View details

Freestanding Industrial Flex Building

55 SW Starr Street SW, Johnston, RI 02919

Contact for pricing

2,500 SF

View details

Eight-Unit Multifamily Portfolio

19 Angell Avenue, Johnston, RI 02919

$1,250,000

View details

17-Unit Apartment Building

64 Mill Street, Johnston, RI 02919

$5,000,000

0.89 Acres

View details

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