Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Holbrook Redevelopment Opportunity on Route 139 Title is generated by Realmo AI

    259-289 Union St, Holbrook, MA 02343

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,500,000

    Ideal Self Storage Site on Route 139

    Property size:
    2,150 SF
    Lot size:
    8.28 Acres
    Price / SF:
    $3,023/SF
    Added:
    Dec 26, 2024
    Days on Market:
    511
    Last Refresh:
    Mar 16 at 9:06 am

    Property Features for 259-289 Union St

    General Information

    Standard status
    Active
    Property type
    Retail residential properties, Other retail properties, Mixed-use properties, Retail properties & Spaces
    Size
    2,150 SF
    Class
    C
    Elevators
    N/A
    Lot size
    8.28 Acres
    Sale Condition
    Redevelopment Project
    Investment Type
    Owner User

    Building Details

    Year Built
    1920
    Stories
    1

    We can help!

    Listing Contact
    Jay Nuss

    Listing agent Jay

    Listing office

    Listing date Dec 26, 2024

    HighLights

    • Outstanding Route 139 Exposure Municipal Utilities Available
    • Flood Plain: 259 and 259R‑Zone AE, 269R‑Zone AE, 269 and 289‑Zone X
    • Over 400 Feet of Street Frontage with 4 Curb Cuts 2024
    • Assessed Value: $1,440,300 with annual property taxes of $28,956.92

    Overview

    This 8.28-acre site in Holbrook, MA, offers redevelopment potential. The property includes approximately 5.4 acres of uplands across six separate parcels. It features over 400 feet of frontage on Route 139, enhanced by four curb cuts, providing high visibility for commercial uses. The site is located within a half-mile radius of the Holbrook/Randolph Commuter Rail Station. Municipal sewer, water, and natural gas services are available on the street. The property is currently assessed at $1,440,300, with annual property taxes of $28,956.92. Portions of the property fall within flood zones AE and X, as detailed in the flood plain information (259 and 259R-Zone AE, 269R-Zone AE, 269 and 289-Zone X). The property is suitable for an owner-user investment. The site's size, location, and accessibility make it an attractive proposition for developers seeking a high-impact commercial project.
    Location Intelligence

    Current Use by Public Records

    Retail residential properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Holbrook
    County
    Norfolk
    State
    Massachusetts
    Longitude
    -71.0046
    Latitude
    42.1471

    Nearby Similar for Sale

    • $499,900
      2,443 SF

      Class A Office Condo

      Like-new office condo in Holbrook, convenient location, investment opportunity.
      181 S Franklin St #400, Holbrook, MA 02343
      View Details
    • $899,999
      4,740 SF

      Retail Property in Holbrook, MA

      Retail space available for sale in Holbrook, Massachusetts.
      210 S Franklin St, Holbrook, MA
      View Details
    • Contact for pricing
      5,048 SF

      Holbrook Flex/Industrial Condo For Rent

      5,048 SF flex/industrial condo with high-end office buildout.
      275 Centre St, Holbrook, MA
      View Details
    • $499,900
      2,443 SF

      Class A Office Condo

      Like-new office condo in Holbrook, convenient location, tenant in place.
      181 S Franklin St 400, Holbrook, MA 02343
      View Details
    • $10,394,460
      115,494 SF

      Holbrook Industrial Property For Sale

      115,494 SF industrial property for sale in Holbrook, MA.
      1 Mear Rd, Holbrook, MA 02343
      View Details

    FAQs

    What type of property is this?
    Retail residential property - Ideal Self Storage Site on Route 139
    Where is this retail residential property located?
    The property is located at 259-289 Union St Holbrook, MA.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Outstanding Route 139 Exposure Municipal Utilities Available; Flood Plain: 259 and 259R‑Zone AE, 269R‑Zone AE, 269 and 289‑Zone X; Over 400 Feet of Street Frontage with 4 Curb Cuts 2024
    (781) 910-6575
    We can help!
    Listing Contact
    Jay Nuss
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    259-289 Union St, Holbrook, MA 02343
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!