Turnkey Multi-Unit Mixed-Use
620 Killingly Street Johnston, RI 02919
New
620 Killingly Street, Johnston, RI, 02919
$899,900
For Sale
$899,900
MULTI_FAMILY - Johnston, RI
Property Size3,377 SF
Lot Size0.30 Acres
Price / SF$266.48
Days on Market2
Property Features for 620 Killingly Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 1
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3
- Parking
- 19
- Parking features
- None
- Interior features
- Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
- Appliances
- Electric Water Heater, Gas Water Heater
- Standard status
- Active
- Size
- 3,377 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11254
Utilities
- Heating system
- Baseboard, Natural Gas
- Cooling system
- Window Unit(s), Central Air
Building Details
- Year built
- 1996
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Vinyl, Hardwood
- Building materials
- Plaster, Masonry
Listing Agency
Re/Max Properties
(401) 232-3900
696 Douglas Pike, SMITHFIELD, RI
Listed by
Kenneth Scotti · License #527749
(401) 232-3900
Added: Jul 17 Checked: Jul 18 at 4:06 pm
MLS# 1417962
Listing URL
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey four-unit mixed-use property includes three commercial units and one residential unit, with all units currently occupied. The single-level building contains a double commercial unit leased to a pizza and pasta restaurant, with five years remaining on the lease. The second building is an up-and-down mixed-use structure with a first-floor commercial unit occupied by a small business and an apartment on the second floor on a month-to-month basis. The second building also features a solid Trex stairway designed for durable, low-maintenance access.
The property is situated on a 13,068-square-foot lot with newly paved and lined parking for 19 vehicles. The offering is represented as fully up to date on security and fire code compliance, and both buildings include newer heating systems.
With diversified income streams, ample on-site parking, and maintenance already in place, the property presents a straightforward, fully occupied ownership opportunity.
The property is situated on a 13,068-square-foot lot with newly paved and lined parking for 19 vehicles. The offering is represented as fully up to date on security and fire code compliance, and both buildings include newer heating systems.
With diversified income streams, ample on-site parking, and maintenance already in place, the property presents a straightforward, fully occupied ownership opportunity.
Key Highlights
- Four‑unit property (3 commercial, 1 residential) is fully occupied with immediate diversified income.
- 13,068 sq. ft. lot with newly paved and lined parking for 19 vehicles.
- Single‑level building includes a double unit leased to a pizza and pasta restaurant with 5 years remaining on the lease.
Local Financial Insights For Specialty Retail
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 | $60.8k | $18.00 |
| − Vacancy | −$6.2k | −$1.85 |
| EGI | $54.5k | $16.15 |
| − OpEx | −$13.6k | −$4.04 |
| NOI | $40.9k | $12.11 |
3,377 SF · lease $18.00/SF/yr · vacancy 10.28% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$584.3K
$511.3K – $681.7K
NOI $40,903 @ 7.0% cap · market cap 4.55%
Second Best
Retail
$544.6K
$476.6K – $635.4K
NOI $38,125 @ 7.0% cap · market cap 4.24%
Theoretical Best
Multifamily LT 5
$803.3K
$702.9K – $937.2K
NOI $56,229 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Turnkey four-unit property with three commercial units and one residential unit, fully occupied and supported by updated systems and codes.
Where is this conventional restaurant 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 property (3 commercial, 1 residential) is fully occupied with immediate diversified income.; 13,068 sq. ft. lot with newly paved and lined parking for 19 vehicles.; Single‑level building includes a double unit leased to a pizza and pasta restaurant with 5 years remaining on the lease.
