Highly Visible Mixed Use | 653 Killingly St
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Highly Visible Mixed Use 653 Killingly St
3,040 SF 100% Leased Retail Building Johnston, RI 02919 $599,000 ($197/SF) 7.21% Cap Rate
Investment Highlights
- High Visibility
- Young Building w/Ample Parking & Many Potential Uses
- Moments to Route 6 & I-295
Executive Summary
This young Mixed-Use building is set on highly visible Killingy Street just moments to Route 6 & 295. Featuring two 1st floor retail units and a second floor residential unit. Built in 2003 this well-maintained building offers wrap around ample parking, signage for both retail units, separate gas & electric utilities for all 3 units, low maintenance siding, fire coded, central air, underground utilities & more. Great visibility, corner lot and high daily car counts for your business(s) exposure. Zoned B-2, which offers many potential uses! Seller financing available.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$57,600
|
$10.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$57,600
|
$10.91
|
| Taxes |
$8,854
|
$1.68
|
| Operating Expenses |
$5,584
|
$1.06
|
| Total Expenses |
$14,438
|
$2.73
|
| Net Operating Income |
$43,162
|
$8.17
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $10.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $57,600 |
| Annual Per SF | $10.91 |
| Taxes | |
|---|---|
| Annual | $8,854 |
| Annual Per SF | $1.68 |
| Operating Expenses | |
|---|---|
| Annual | $5,584 |
| Annual Per SF | $1.06 |
| Total Expenses | |
|---|---|
| Annual | $14,438 |
| Annual Per SF | $2.73 |
| Net Operating Income | |
|---|---|
| Annual | $43,162 |
| Annual Per SF | $8.17 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,040 SF
Building Class
B
Year Built
2003
Price
$599,000
Price Per SF
$197
Cap Rate
7.21%
NOI
$43,162
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
10’
Building FAR
0.32
Land Acres
0.22 AC
Zoning
B2 - B-2 Zoned. Many potential uses.
Parking
12 Spaces (3.95 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Tenant Controlled HVAC
- Accent Lighting
- Storage Space
- Recessed Lighting
- Monument Signage
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | JOHN-000014-000000-000066 | Total Assessment | $322,800 |
| Land Assessment | $124,200 | Annual Taxes | $8,854 ($2.91/SF) |
| Improvements Assessment | $198,600 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
JOHN-000014-000000-000066
Land Assessment
$124,200
Improvements Assessment
$198,600
Total Assessment
$322,800
Annual Taxes
$8,854 ($2.91/SF)
Tax Year
2024
-
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RI Real Estate Services
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Highly Visible Mixed Use | 653 Killingly St
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