Building Details

Building Size 4,000 SF

Year Built 1987

Buildings 1

Stories 1

Listed By: Michele Costa Show Phone

Source: Milestonerealtyinc

Added: Jun 4 Changed: Oct 7 Last Checked: Oct 7 at 9:32AM

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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 Michele Costa

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Investment Insights

Based on property information with market context.

This one-level strip plaza has been updated and is currently operating as a pub and pizza place. The property is offered for sale, with the option for the owners to lease back the building.

The asset includes a large parking lot designed to support day-to-day customer traffic. The property is located at 80 Greenville Avenue in Johnston, Rhode Island.

At approximately 4,000 square feet, the building is configured to serve both bar and food service uses within a strip plaza setting.

Key Highlights

• One‑level strip plaza built in 1987
• Updated property currently operated as a pub and pizza place
• Large parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,449

Cap Rate

4.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$968,980 $969.0K

Cap Rate 7%

$692,129 $692.1K

Cap Rate 9%

$538,322 $538.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,000 SF

Gross rent

$72.0K $18.00/SF

− Vacancy

−$7.4K −$1.85/SF

EGI

$64.6K $16.15/SF

− OpEx

−$16.1K −$4.04/SF

NOI

$48.4K $12.11/SF

Area

Providence County, RI

Vacancy

10.28%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$968,980

Cap Rate 7%

$692,129

Cap Rate 9%

$538,322

Alternative Uses

Best Use

Specialty Retail

$692.1K

$605.6K – $807.5K (±1% cap)

NOI $48,449 @ 7.0% cap · market cap 4.85%

Second Best

Retail

$645.1K

$564.5K – $752.6K (±1% cap)

NOI $45,158 @ 7.0% cap · market cap 4.52%

Theoretical Best

Multifamily LT 5

$951.5K

$832.5K – $1.11M (±1% cap)

NOI $66,602 @ 7.0% cap · market cap 6.66%

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 Dental Office Building Supply Pharmacy Gym & Fitness Center

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

70k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 62% Shops & Services 37% Electronics 1%

Wendy's Dining

22,768 visits/mo 0.4 miles

Dunkin' Donuts Dining

18,842 visits/mo 0.4 miles

Cumberland Farms Shops & Services

18,472 visits/mo 0.1 miles

Family Dollar Shops & Services

6,976 visits/mo 0.4 miles

Hometown Pizza Dining

1,930 visits/mo 0.3 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Strip mall - One-level strip plaza is updated and currently operated as a pub and pizza place, with a large parking lot.

Where is this strip mall located?

The property is located at 80 Greenville Avenue Johnston Johnston, RI.

What is the asking price?

The asking price for this property is $999,900.

What are key features of this property?

This property features: One‑level strip plaza built in 1987; Updated property currently operated as a pub and pizza place; Large parking lot