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    2128 Hartford Ave Johnston, RI 02919
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    2128 Hartford Ave Johnston, RI 02919

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    • Commercial land
    • 1,080 SF
    For Sale
    $999,000
    View Listing →
    Prime Location Interchange Business District For Sale
    $999,000
    1,080 SF

    Prime Location Interchange Business District

    Commercial property with many possibilities near Amazon and medical facilities.

    2128 Hartford Avenue, Johnston, RI 2919
    View Listing
    Property ID
    US76-0307555
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2128 Hartford Ave

    Year built
    1950
    Property size
    1,080 SF
    Property type
    Commercial land
    Property subtype
    Mixed-use properties

    Description

    PRIME LOCATION & ZONED INTERCHANGE BUSINESS B-3 DISTRICT. "LEASE OPTIONS" MAY ALSO BE AVAILABLE. This Property Has MANY COMMERCIAL Possibilities for the Future. It's Located Next to an Entrance of the NEW AMAZON DISTRIBUTION FACILITY and a NEW MEDICAL FACILITY. The Interchange Business B-3 District ... is Composed of Large-Scale, Mixed-Use Development of a Regional Scale which may Contain High-Density Residential, Retail/Commercial, Office, Light Manufacturing Projects, and Distribution Facilities. This Property is Located at the Highway Interchanges for Immediate Access to MA & CT. The Town of Johnston is Centrally Located, Business Friendly and Eager for New Ideas for Continued Development. The Existing Structure is a Residential 3 Bedroom, 1 Full Bath, Eat in Kitchen, Fireplace Living Room, Hardwoods Through-Out, Full Basement, Laundry Room and Plenty of Parking. Currently Being Rented and Tenant Pays Utilities. Close to All Conveniences Including: Many Business Campuses, Medical Offices, Shopping, and Schools.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Johnston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5253038
    Latitude
    41.8304768

    Comparable in this City

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      1,080 SF

      Prime Location Interchange Business District

      Commercial property with many possibilities near Amazon and medical facility.
      2128 Hartford Ave, Johnston, RI 02919
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    • $999,000
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      Prime Location Interchange Business District

      Commercial property with many possibilities near Amazon distribution facility.
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      Johnston, RI Development Opportunity

      1.76-acre corner lot ideal for retail or office development.
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    • $2,495,000

      1.76 Acre Corner Lot

      1.76-acre corner lot ideal for retail or office development.
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    Similar Nearby for Sale

    • $999,000
      19,166 SF

      Prime Location Interchange Business District

      Commercial property with many possibilities near Amazon distribution facility.
      2128 Hartford Ave, Johnston, RI 02919
      View Details
    • $999,000
      1,080 SF

      Prime Location Interchange Business District

      Commercial property with many possibilities near Amazon and medical facility.
      2128 Hartford Ave, Johnston, RI 02919
      View Details
    • $2,495,000
      1.76 Acres

      Johnston, RI Development Opportunity

      1.76-acre corner lot ideal for retail or office development.
      1835 Plainfield Pike, Johnston, RI 02919
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    • $2,495,000

      1.76 Acre Corner Lot

      1.76-acre corner lot ideal for retail or office development.
      1835 Plainfield Pike, Johnston, RI 02919
      View Details
    • $2,495,000
      1.16 Acres

      Prime Johnston Commercial Corner Lot

      1.16-acre corner lot with high visibility and B-2 zoning.
      1827 Plainfield Pike, Johnston, RI 02919
      View Details
    • $2,495,000

      Prime Johnston Corner Lot

      1.16-acre corner lot with B-2 zoning on Plainfield Pike.
      1827 Plainfield Pike, Johnston, RI 02919
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr

      Commercially Zoned Land on Route 6

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      Prime Commercial Land For Rent

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    • $25 SF/Yr

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      Versatile Commercial Space For Rent

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      Commercial Space For Lease

      7500 sq ft commercial space for lease. Heat/electricity included.
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      12,025 SF

      Versatile Space Near I-295

      Adaptable property suitable for automotive, light manufacturing, warehouse, and office uses.
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    View Listing
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    Johnston, RI 02919
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2128 Hartford Ave, Johnston, RI, 02919
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