Building Details

Buildings 1

Stories 4

Units 8

Listing Agency: eXp Realty c***@atproperties.com Show Phone

Listed By: Christopher Olson · License #MA 9032966

Source: Crexi

Added: Mar 9 Changed: Aug 8 Last Checked: Aug 20 at 11:39AM

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Investment Insights

Based on property information with market context.

This rare and impeccably maintained mixed-use historic building is located in Foxboro Center, directly across from The Boyden Library, Doolittle Home, and Historic Baker Street. The property features four boutique, by-appointment-only retail commercial spaces, currently used as a hair salon, healthcare sales, family law office, and a second-floor photography studio. The former iconic Foxboro Hat Shop (and Grange Hall prior to that) has been converted into an exceptionally appealing residential space. Constructed around 1887, the building blends historical charm with 21st-century improvements. The property includes a full basement, a walk-up attic for potential expansion or storage, and off-street parking with recently updated drainage. A new roof was installed in 2018, and the exterior has been recently painted. Common laundry facilities are available on each level, along with a private hardscape patio and a second-floor deck. The property has been meticulously managed by a local family for over 30 years. The building has a total size of 9910 square feet.

Key Highlights

• Rare, impeccably maintained historic mixed‑use building in Foxboro Center.
• Four boutique commercial spaces currently occupied by established businesses.
• Exceptionally appealing residential space converted from the former Foxboro Hat Shop.

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

$95,731

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

5.99%

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%

$1,914,620 $1.9M

Cap Rate 7%

$1,367,586 $1.4M

Cap Rate 9%

$1,063,678 $1.1M

Market Conditions

NOI Build-Up for 9,910 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

$166.5K $16.80/SF

− Vacancy

−$13.3K −$1.34/SF

EGI

$153.2K $15.46/SF

− OpEx

−$57.4K −$5.80/SF

NOI

$95.7K $9.66/SF

Area

Norfolk County, MA

Vacancy

8.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

37.50%

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%

$1,914,620

Cap Rate 7%

$1,367,586

Cap Rate 9%

$1,063,678

Alternative Uses

Best Use

Retail

$2.41M

$2.11M – $2.81M (±1% cap)

NOI $168,646 @ 7.0% cap · market cap 10.55%

Second Best

Mixed Use

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $95,731 @ 7.0% cap · market cap 5.99%

Theoretical Best

Office A

$5.87M

$5.13M – $6.84M (±1% cap)

NOI $410,668 @ 7.0% cap · market cap 25.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail space

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Furniture & Home Goods Cafe & Coffee Shop Auto Parts Store Home Appliance Store

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

Location Intelligence

Trade Area within ½ mile

759

Businesses Nearby

27k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Cumberland Farms Shops & Services

14,446 visits/mo 0.1 miles

Bank of America Shops & Services

3,985 visits/mo 0.2 miles

BP Shops & Services

3,421 visits/mo 0.1 miles

TD Bank Shops & Services

2,555 visits/mo 0.3 miles

O'Reilly Auto Parts Shops & Services

2,264 visits/mo 0.1 miles

Demographics for 02035, MA

18,618

Population

7,414

Households

2.5

Avg Household Size

42

Median Age

58%

College-Educated

97%

High-School Grad

19.9 sq mi

ZIP Area

936

Density / Sq Mi

$108,559

Median Household Income

$62,457

Median Earnings

$1,763

Median Rent

$581,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Impeccably maintained mixed-use building with retail and residential spaces.

Where is this mixed-use property located?

The property is located at 11-15 Bird Street Foxborough, MA.

What is the asking price?

The asking price for this property is $1,599,000.

What are key features of this property?

This property features: Rare, impeccably maintained historic mixed‑use building in Foxboro Center.; Four boutique commercial spaces currently occupied by established businesses.; Exceptionally appealing residential space converted from the former Foxboro Hat Shop.