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    Investment properties

    39 Greenville Ave, Johnston, RI 02919

    10,638 SF 0.5 ac lot Built 1940
    Individually Owned 4-yr Hold ~ Est. High Equity
    Property ID
    US76-0331590
    Property summary
    AI-generated overview

    This exceptional investment opportunity presents a thriving strip center strategically located at a bustling intersection in Johnston, Rhode Island, offering convenient highway access. The property boasts a substantial 14,023 square feet of space distributed across two buildings situated on a half-acre lot. The diverse tenant mix includes four residential units, four to five retail spaces, and three commercial/warehouse units, all currently generating rental income with many tenants holding multi-year leases. The potential for further development is significant, with ample room to subdivide existing units and create additional rental spaces to increase revenue streams. The property's high occupancy rate and established tenant base provide immediate cash flow and a strong foundation for future growth. The expansive parking lot comfortably accommodates over 20 vehicles, ensuring convenient access for tenants and customers. This well-maintained property presents a rare opportunity to acquire a high-performing commercial asset in a prime Johnston location with excellent visibility and accessibility. The combination of residential, retail, and commercial/warehouse units creates a diversified income stream, mitigating risk and maximizing return on investment. This is an ideal opportunity for investors seeking a stable, high-yield property with significant upside potential. The property's location at a busy intersection and its proximity to major roadways guarantee high traffic counts and excellent visibility, attracting a wide range of potential tenants.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1940
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 10,638 SF
    Lot 0.5 ac (21,800 SF)
    Zoning code B2
    APN JOHN M:0017 L:010
    UPID US76-0331590
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.79M
    CAP Approach CAP
    $1.94M
    Comparable Approach Comparable
    $1.79M
    Blend (final) Blend
    $1.85M
    Owner & transaction history
    561 Dudley Street RT · 4 yrs held
    561 Dudley Street RT
    since 2021
    Last sale
    $1.2M
    5 recorded transactions
    2021
    $1.2M
    2010
    $565,000
    2010
    $604,000
    2007
    2003
    Zoning & alternative use
    B2 · Johnston, RI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $2.0M +11.9%
    Try Rey
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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