653 Killingly StJohnston, RI 02919

This exceptional mixed-use property, located at 653 Killingly St, Johnston, RI 02919, presents a compelling investment opportunity. The 3,040 square foot building, constructed in 2003, boasts a prime location on Killingly Street, offering high visibility and easy access to Routes 6 and 295. Currently operating at 100% occupancy with two ground floor retail units and a second-floor residential unit, the property generates a current NOI of $30,000, representing a 5.01% cap rate. However, a pro-forma analysis projects a significant increase in NOI to $50,000, resulting in an 8.35% cap rate. The building features ample parking (12 spaces) on a 9,583 square foot lot, separate gas and electric utilities for each of the three units, low-maintenance siding, fire code compliance, central air conditioning, and underground utilities. The B2 zoning allows for a variety of uses. The asking price is $599,000, translating to $197.04 per square foot. Seller financing is available. This is a rare opportunity to acquire a well-maintained, high-performing mixed-use asset in a desirable location with significant upside potential.