Four-Unit Mixed-Use Income
620 Killingly Street Johnston, RI 02919
New
620 Killingly Street, Johnston, RI, 02919
$899,900
For Sale
$899,900
Turnkey, fully occupied four-unit property with on-site parking and mixed restaurant and residential tenants.
Property Size3,377 SF
Lot Size0.30 Acres
Price / SF$266.48
Days on Market3
Property Features for 620 Killingly Street
General Information
- Standard status
- Active
- Size
- 3,377 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1996
Listing agency
RE/MAX Properties
(401) 232-3900
Listed by
Kenneth Scotti · License #13099
Source
Onshorerealtors
Added: Jul 19 Updated: Jul 20 at 3:43AM Checked: Jul 21 at 2:57AM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
Turnkey four-unit property with three commercial units and one residential unit, fully occupied and positioned for immediate, diversified income. One single-level building features a double unit currently leased to a pizza and pasta restaurant, with five years remaining on the lease. A second up-and-down mixed-use building includes a small business on the first floor and a residential apartment on the second floor, with month-to-month tenancy. Both buildings have newer heating systems, and the property is fully up to date on security and fire code compliance.
The property sits on a 13,068 sq. ft. lot with newly paved and lined parking for 19 vehicles. The front building includes a solid Trex stairway designed for durable, low-maintenance access.
With ample on-site parking, ongoing lease continuity in one unit, and active month-to-month occupancy in the mixed-use structure, the buildings are offered as a maintained, turnkey income property.
The property sits on a 13,068 sq. ft. lot with newly paved and lined parking for 19 vehicles. The front building includes a solid Trex stairway designed for durable, low-maintenance access.
With ample on-site parking, ongoing lease continuity in one unit, and active month-to-month occupancy in the mixed-use structure, the buildings are offered as a maintained, turnkey income property.
Key Highlights
- Four‑unit commercial property with 3 commercial units and 1 residential unit; fully occupied
- Tenant 1: singlelevel double unit leased to a pizza and pasta restaurant with 5 years remaining on the lease
- Second building is mixed‑use up‑and‑down structure: first‑floor commercial unit plus a second‑floor residential apartment
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.9k | $25.44 |
| − Vacancy | −$5.6k | −$1.65 |
| EGI | $80.3k | $23.79 |
| − OpEx | −$24.1k | −$7.14 |
| NOI | $56.2k | $16.65 |
3,377 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$803.3K
$702.9K – $937.2K
NOI $56,229 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$637.5K
$557.8K – $743.8K
NOI $44,625 @ 7.0% cap · market cap 4.96%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Turnkey, fully occupied four-unit property with on-site parking and mixed restaurant and residential tenants.
Where is this quadplex located?
The property is located at 620 Killingly Street Johnston, RI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Four‑unit commercial property with 3 commercial units and 1 residential unit; fully occupied; Tenant 1: singlelevel double unit leased to a pizza and pasta restaurant with 5 years remaining on the lease; Second building is mixed‑use up‑and‑down structure: first‑floor commercial unit plus a second‑floor residential apartment
