Building Details

Year Built 1960

Listing Agency: Carey Realty Group, Inc.

Listed By: Robert P. Carey Show Phone

Source: Lockandkeyre

Added: Jul 21 Changed: Oct 29 Last Checked: Oct 28 at 7:27AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carey Realty Group, Inc.

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Investment Insights

Based on property information with market context.

This updated retail/office suite offers approximately 1,350 square feet of usable space with 9-foot ceilings and sprinklers in the unit. Signage is available to help showcase a tenant’s business. The space is served by central air, and it includes electric, water, sewer, and snow removal as part of the rent structure.

The suite is located on busy Rt 106 (East Bacon St), providing high-traffic exposure. Parking is available in front of the unit for customer or staff access.

Heat is tenant responsibility via a natural gas setup with its own meter. The tenant also pays for trash removal.

Key Highlights

• Updated 1,350‑sq‑ft suite with approx. 9' ceilings and sprinkler system
• Signage available to help showcase your business
• Front parking available for tenant access and operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,974

Suggested Prices Based on Cap Rates

Cap Rate 5%

$459,480 $459.5K

Cap Rate 7%

$328,200 $328.2K

Cap Rate 9%

$255,267 $255.3K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,350 SF

Gross rent

$33.7K $24.96/SF

− Vacancy

−$876 −$0.65/SF

EGI

$32.8K $24.31/SF

− OpEx

−$9.8K −$7.29/SF

NOI

$23.0K $17.02/SF

Area

Norfolk County, MA

Vacancy

2.60%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$459,480

Cap Rate 7%

$328,200

Cap Rate 9%

$255,267

Alternative Uses

Best Use

Office B

$423.2K

$370.3K – $493.7K (±1% cap)

NOI $29,624 @ 7.0% cap · market cap 1,481.20%

Second Best

Retail

$328.2K

$287.2K – $382.9K (±1% cap)

NOI $22,974 @ 7.0% cap · market cap 1,148.70%

Theoretical Best

Office A

$799.2K

$699.3K – $932.4K (±1% cap)

NOI $55,944 @ 7.0% cap · market cap 2,797.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office Units

Suggested Use

Top Pick HVAC Service Electrical Service Bakery Garden Center (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9 ft

Clear height

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

674

Businesses Nearby

Explore this area Business Placement

Demographics for 02762, MA

9,945

Population

4,416

Households

2.3

Avg Household Size

43

Median Age

43%

College-Educated

95%

High-School Grad

11.0 sq mi

ZIP Area

904

Density / Sq Mi

$95,625

Median Household Income

$56,133

Median Earnings

$1,901

Median Rent

$461,200

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Updated 1,350-square-foot suite with 9-foot ceilings, sprinklers, and front parking for tenant access and operations.

Where is this office unit located?

The property is located at 1 George Street Unit 2B Plainville, MA.

What are key features of this property?

This property features: Updated 1,350‑sq‑ft suite with approx. 9' ceilings and sprinkler system; Signage available to help showcase your business; Front parking available for tenant access and operations