Food Processing Manufacturing
For Sale
Contact for pricing
74 Railroad Ave, Johnston, RI 02919
Industrial facility includes freezer space, dock access, and production-area compressed air lines.
Property Size13,927 SF
Lot Size1.16 Acres
Price / SF$143.61
Days on Market213
Property Features for 74 Railroad Ave
General Information
Standard status
Active
Size
13,927 SF
Lot size
1.16 Acres
Property subtype
INDUSTRIAL
Zoning
I
Warehouse & Industrial
Clear Height
25 ft
Dock-High Doors
5
Sprinkler System
Yes
Cold Storage
Yes
Cold Storage Area
3,248 SF
Freezer
3,248 SF
Additional Details
Highway Access
Yes
Building Details
Building Size
13,927 SF
Listing Agency:
Sweeney Real Estate &Appraisal
(401) 523-5101
Listed By:
Thomas O Sweeney
(401) 523-5101
Source:
Moodyscre
Added: Jan 20
Changed: Aug 11
Last Checked: Aug 11 at 4:04PM
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 Sweeney Real Estate &Appraisal
Investment Insights
Based on property information with market context.
The 13,927± SF food processing facility sits on 1.16± acres and includes a 3,248± SF freezer with a 25 FT ceiling height, along with a blast freezer. The production area features compressed air lines, and the building is fully sprinklered. Five dock-height doors support receiving and shipping operations.
Located at 74 Railroad Ave in Johnston, RI, the property is 1 mile off RT-44, also known as Putnam Pike, with quick access to I-295. The property is zoned Industrial (I), supporting its manufacturing-oriented configuration and existing food processing improvements.
Located at 74 Railroad Ave in Johnston, RI, the property is 1 mile off RT-44, also known as Putnam Pike, with quick access to I-295. The property is zoned Industrial (I), supporting its manufacturing-oriented configuration and existing food processing improvements.
Key Highlights
- 13,927± SF food processing facility on 1.16± acres
- 3,248± SF 25 FT freezer and blast freezer
- 25 FT ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,453,560
$1.5M
Cap Rate 7%
$1,038,257
$1.0M
Cap Rate 9%
$807,533
$807.5K
Market Conditions
NOI Build-Up for 13,927 SF
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.
Gross rent
$104.5K $7.50/SF
− Vacancy
−$627 −$0.05/SF
EGI
$103.8K $7.46/SF
− OpEx
−$31.1K −$2.24/SF
NOI
$72.7K $5.22/SF
Area
Providence County, RI
Vacancy
0.60%
Lease Rate
$7.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,453,560
Cap Rate 7%
$1,038,257
Cap Rate 9%
$807,533
Alternative Uses
Best Use
Industrial
$1.04M
$908.5K – $1.21M
NOI $72,678 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.31M
$2.90M – $3.86M
NOI $231,891 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
25 ft
Clear height
5
Dock-high doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
305
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial facility includes freezer space, dock access, and production-area compressed air lines.
Where is this manufacturing property located?
The property is located at 74 Railroad Ave Johnston, RI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 13,927± SF food processing facility on 1.16± acres; 3,248± SF 25 FT freezer and blast freezer; 25 FT ceiling height
