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    Property profile & analytics

    51 Grn Hl Rd Johnston, RI 02919-5605

    • Industrial properties
    • 3,600 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2021
    $375,000
    Value Estimations
    $450,000
    Show details
    Cap Rate Potential
    8%
    Industrial properties
    Location Intelligence
    Property ID
    US76-0366265
    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.

    Current Use by Public Records

    • Industrial properties

    Property Details for 51 Grn Hl Rd

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    0.35 lot acres
    Property size
    3,600 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    JOHN M:0032 L:028
    APU
    JOHNM0032L028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $445,000
      ML approach
      $465,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $595,000
      6.5%
      $550,000
      7%
      $510,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $440,000
      Market price range: $147k - $447k

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnston
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.5303
    Latitude
    41.8019
    CBSA code
    39300
    CBSA name
    PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $6,312
    $99,900
    $130,200
    $230,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $280,000
      0.15 Acres

      50 Starr St

      INDUSTRIAL (GENERAL) • 0.15 Acres
      50 Starr St, Johnston, RI 02919-6246
      View Details
    • Value Estimation
      $600,000
      21.86 Acres

      29 Grn Earth Way

      INDUSTRIAL (GENERAL) • 21.86 Acres
      29 Grn Earth Way, Johnston, RI 02919-5845
      View Details
    • Value Estimation
      $1,195,000
      76,570 SF

      19 Industrial Ln

      INDUSTRIAL (GENERAL) • 76,570 SF
      19 Industrial Ln, Johnston, RI 02919-3124
      View Details
    • Value Estimation
      $390,000
      3.57 Acres

      23 Grn Hl Rd

      INDUSTRIAL (GENERAL) • 3.57 Acres
      23 Grn Hl Rd, Johnston, RI 02919-5605
      View Details
    • Value Estimation
      $300,000
      4,000 SF

      55 Grn Hl Rd

      INDUSTRIAL (GENERAL) • 4,000 SF
      55 Grn Hl Rd, Johnston, RI 02919-5605
      View Details
    • Value Estimation
      $295,000
      5,292 SF

      10 Alcazar Ave

      INDUSTRIAL (GENERAL) • 5,292 SF
      10 Alcazar Ave, Johnston, RI 02919-4069
      View Details

    Similar Nearby for Sale

    • $289,000

      Johnston Warehouse Condo - $289K

      New 2024 Warehouse Condo, High Visibility
      2631 Hartford Ave, Johnston, RI 02919
      View Details
    • Contact for pricing
      0.28 Acres

      Renovated Flex Commercial Space

      Newly renovated flex space with drive-in door in Johnston, RI.
      8 Dyerville Ave, Johnston, RI 02919
      View Details
    • New
      $575,000
      5,292 SF

      Johnston Manufacturing/Industrial Building For Sale

      Well-maintained 5,292 SF manufacturing/industrial space near major highways.
      10 Alcazar Ave, Johnston, RI 02919
      View Details
    • $2,200,000
      13,927 SF

      Food Processing Facility For Sale

      13,927± SF food processing facility on 1.16± acres.
      74 Railroad Ave, Johnston, RI 02919
      View Details
    • $999,999
      1,080 SF

      Mixed-Use Development of a Regional Scale which may Contain High-Density Residential

      Retail\/Commercial
      2128 Hartford Ave, Johnston, RI 02919
      View Details
    • $289,000
      1,250 SF

      providing plenty of room for your business or storage needs. The 12 foot overhead doors grant easy access for loading and unloading

      while the generous 16 foot ceilings allow for maximum storage capacity. With gas heat
      2631 Hartford Ave, Johnston, RI 02919
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      88,862 SF

      Johnston Commercial Land - 2 Acres

      High-traffic Route 6 location, B-2 zoning.
      2207 Hartford Ave, Johnston, RI 02919
      View Details
    • $25 SF/Yr
      1,600 SF

      Renovated Flex Space Available

      Newly renovated flex space with drive-in door for lease.
      8-14 Dyerville Ave, Johnston, RI 02919
      View Details
    • $3,500 /Mo
      3,132 SF

      Renovated Industrial Unit with Lift

      3132 SF renovated industrial unit with 10,000 lb lift.
      30 Starr St, Johnston, RI 02919
      View Details
    • Contact for pricing
      12,025 SF

      Versatile Space Near I-295

      Adaptable property suitable for automotive, light manufacturing, warehouse, and office uses.
      1678 Hartford Ave, Johnston, RI 02919
      View Details
    • $1,300 /Mo
      1,100 SF

      Johnston Flex Space Available

      1,100 SF flex space for rent in Johnston.
      767 Hartford Ave, Johnston, RI 02919
      View Details
    • $25 SF/Yr
      84,860 SF

      Atwood Medical Office Space

      Prime Johnston, RI medical office building
      1526 Atwood Ave, Johnston, RI 02919
      View Details
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    51 Grn Hl Rd
    Johnston, RI 02919-5605
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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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