Furnished First-Floor Office
For Sale
$349,900
105-511 W Grove St, Middleboro, MA
Five private offices, reception, storage, break room, and private bathroom support medical, legal, or administrative operations.
Property Size1,446 SF
Price / SF$241.98
Days on Market113
Property Features for 105-511 W Grove St
General Information
Standard status
Active
Size
1,446 SF
Taxes and HOA fees
Annual Taxes
$1,569
Listing Agency:
Keller Williams Elite
(617) 851-0150
Listed By:
Team Kelleher
(617) 851-0150
Source:
Exprealty
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 8:12PM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This 1,446-square-foot office condominium occupies the first floor and is being offered furnished. The layout includes a client waiting area, reception space, five private offices, a dedicated record storage room, a private bathroom, and a break room. A street-level entrance supports convenient access for occupants and visitors.
The property includes parking for staff and clients and is configured for professional office use. Its existing arrangement can accommodate medical, legal, or administrative practices seeking multiple enclosed work areas alongside reception and support spaces.
The property includes parking for staff and clients and is configured for professional office use. Its existing arrangement can accommodate medical, legal, or administrative practices seeking multiple enclosed work areas alongside reception and support spaces.
Key Highlights
- 1,446‑square‑foot furnished office condominium on the first floor
- Five private offices provide enclosed workspace for professional operations
- Waiting area and reception space are included in the existing layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,245
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,900
$604.9K
Cap Rate 7%
$432,071
$432.1K
Cap Rate 9%
$336,056
$336.1K
Market Conditions
NOI Build-Up for 1,446 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.6K $33.60/SF
− Vacancy
−$8.3K −$5.71/SF
EGI
$40.3K $27.89/SF
− OpEx
−$10.1K −$6.97/SF
NOI
$30.2K $20.92/SF
Area
Plymouth County, MA
Vacancy
17.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,900
Cap Rate 7%
$432,071
Cap Rate 9%
$336,056
Alternative Uses
Best Use
Office B
$432.1K
$378.1K – $504.1K
NOI $30,245 @ 7.0% cap · market cap 8.64%
Second Best
Healthcare Medical
$385.2K
$337.1K – $449.4K
NOI $26,965 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$856.0K
$749.0K – $998.7K
NOI $59,922 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Five private offices, reception, storage, break room, and private bathroom support medical, legal, or administrative operations.
Where is this office units located?
The property is located at 105-511 W Grove St Middleboro, MA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,446‑square‑foot furnished office condominium on the first floor; Five private offices provide enclosed workspace for professional operations; Waiting area and reception space are included in the existing layout
